[siross]

Hi all,

Looking for a second opinion on a deal for my wife from Arnold Clark in Huddersfield.

The car is a 67 reg Peugeot 2008 with 1800 miles on the clock, it's a lower spec model with the 1.2 petrol engine but it has everything my wife wants/needs in a car.

The list price (new) was around £16k, the price at Arnold Clark is around £11.5k

The deal is as follows;

- £1k deposit
- 36 month PCP duration
- £200 a month
- Service plan included (we've haggled this to FOC)

Total payable over the term is £8,200.

Any opinions welcome.

Thanks,

Simon

[ciscopete822]

Did you consider leasing?

[siross]

Originally Posted by ciscopete822

Did you consider leasing?

Yes, but never done it before so a bit apprehensive.

[NotGotABimmer23]

I'd be getting a cheap loan at around 3%.

Don't know what rate that is or what the gfv is but the bank loan will almost certainly be cheaper and you own the car from day 1.

[siross]

ciscopete822

Just found this deal:
https://www.nationwidevehiclecontrac...re-2-83566.htm

£1200 up front (including booking fee)
£169 per month

That's on a 6+36 deal. In stock and the right colour, seems like a good deal to me? Works out around £30 cheaper a month but road tax is included from what I understand?

[73henny]

As above, look at a cheap loan. Probably £330ish a month for the 3 years with no deposit and you'll own the car at the end. The 1k deposit will pay for the first 8 months or so of the extra £130 per month too. Also maybe look at 0% credit card for at least some of the payment. Check/haggle with AC for any CC cost.

[siross]

Originally Posted by kylemacca01

I'd be getting a cheap loan at around 3%.

Don't know what rate that is or what the gfv is but the bank loan will almost certainly be cheaper and you own the car from day 1.

Looking at it, that's definitely the cheapest way of doing it but over 36 months, the payments would be over £300, we'd want them to be closer to £200. To get the monthly payments close it would have to be over 54 months and I'm not sure we'd want to commit to a loan over that period.

My wife also likes the idea of "resetting" the deal and getting a new car within the PCP term, assuming there's no negative equity

[NotGotABimmer23]

Originally Posted by siross

Looking at it, that's definitely the cheapest way of doing it but over 36 months, the payments would be over £300, we'd want them to be closer to £200. To get the monthly payments close it would have to be over 54 months and I'm not sure we'd want to commit to a loan over that period.

My wife also likes the idea of "resetting" the deal and getting a new car within the PCP term, assuming there's no negative equity

10k over 4 years is 220 pm. Obviously you can pay that off at any time when you sell the car or otherwise. Pcp does help keep the monthlies down but on a relatively cheap car with a very low gfv I'd definitely go with the loan.

[ciscopete822]

Originally Posted by siross

ciscopete822

Just found this deal:
https://www.nationwidevehiclecontrac...re-2-83566.htm

£1200 up front (including booking fee)
£169 per month

That's on a 6+36 deal. In stock and the right colour, seems like a good deal to me? Works out around £30 cheaper a month but road tax is included from what I understand?

With leasing , road license is always included. You can get away with admin fees as well if you order directly from dealer. When back in office tomorrow , I will ping useful Pistonheads thread regarding good lease deals. I am currently driving Golf R mk7.5 and it is going to cost me less than 6500k all included for 2 years. Just to put things into perspective.

[siross]

Originally Posted by ciscopete822

With leasing , road license is always included. You can get away with admin fees as well if you order directly from dealer. When back in office tomorrow , I will ping useful Pistonheads thread regarding good lease deals. I am currently driving Golf R mk7.5 and it is going to cost me less than 6500k all included.

Thanks!

[Nobby Clark]

Originally Posted by siross

Looking at it, that's definitely the cheapest way of doing it but over 36 months, the payments would be over £300, we'd want them to be closer to £200. To get the monthly payments close it would have to be over 54 months and I'm not sure we'd want to commit to a loan over that period.

My wife also likes the idea of "resetting" the deal and getting a new car within the PCP term, assuming there's no negative equity

If you definitely want a new car at the end, leasing is the way to go. PCP gives you slightly more options if you need/ want to change your mind for example you decide to keep the vehicle.

Certainly, as you have found, you can lease a new car cheaper than AC will PCP a second hand one.
I’d also advise against dealing with Arnold Clark. I bought one vehicle from them but never again.

You’d need to do the maths on a loan,
Take out a long loan and pay it back early when you sell the car is an option but why you’d want to own a car that you plan to move on in 3 years doesn’t compute with me.

You can also manipulate financial services protection with a pcp and work out when you can VT it. This gives a similar model to a lease but in some cases is cheaper as you can get very low deposits to start the plan. I don’t condone this practice but plenty people seem to sleep well doing it.

One final bit of advice if you lease or pcp, get gap insurance.

[siross]

Originally Posted by Nobby Clark

If you definitely want a new car at the end, leasing is the way to go. PCP gives you slightly more options if you need/ want to change your mind for example you decide to keep the vehicle.

Certainly, as you have found, you can lease a new car cheaper than AC will PCP a second hand one.
I’d also advise against dealing with Arnold Clark. I bought one vehicle from them but never again.

You’d need to do the maths on a loan,
Take out a long loan and pay it back early when you sell the car is an option but why you’d want to own a car that you plan to move on in 3 years doesn’t compute with me.

You can also manipulate financial services protection with a pcp and work out when you can VT it. This gives a similar model to a lease but in some cases is cheaper as you can get very low deposits to start the plan. I don’t condone this practice but plenty people seem to sleep well doing it.

One final bit of advice if you lease or pcp, get gap insurance.

Thanks for the advice. I think we'll be going down the lease or PCP route. Just unsure which one.

[siross]

Originally Posted by Lobb

I wouldn't worry about going either way. It's the deal that's important.

Mrs Lobbs Tiguan was a lease last year. First time she went lease but the deal was one of those end of quarter specials.

It's also worth thinking about exactly when you give the car back. My M135i is a three year pcp. Due to finish Oct 218. However, at that time it will be due it's service (£500) road tax and MOT (£300). So I'll be giving it back a couple of months earlier

Thanks. What do you think of the deal I posted? Seems about the same as the lease deals, maybe £10-20 more per month

[siross]

We're flexible, she wants a mini SUV type thing. Something like the 2008 or Crossland X etc. A more premium brand would be fantastic as long as the car wasn't so big.

We're ready to buy too so I was hoping for a good deal before January is here...

[ciscopete822]

Originally Posted by siross

We're flexible, she wants a mini SUV type thing. Something like the 2008 or Crossland X etc. A more premium brand would be fantastic as long as the car wasn't so big.

We're ready to buy too so I was hoping for a good deal before January is here...

dude

try this link first

https://www.pistonheads.com/gassing/...t=1713219&i=80

Then that's one of the best lease comparison sites

https://www.contracthireandleasing.com


General rule is , you find the deal you want and then either through first link to find dealer contacts or approaching dealers directly to match offer , this way you can save on admin fees and dealer is a dealer not a broker so constant updates regarding car etc.

[siross]

Originally Posted by ciscopete822

dude

try this link first

https://www.pistonheads.com/gassing/...t=1713219&i=80

Then that's one of the best lease comparison sites

https://www.contracthireandleasing.com


General rule is , you find the deal you want and then either through first link to find dealer contacts or approaching dealers directly to match offer , this way you can save on admin fees and dealer is a dealer not a broker so constant updates regarding car etc.

Just posted on there. I posted on a week or so back and nothing came up. Can't seem to find a great deal for a petrol crossover in stock.

[ciscopete822]

Originally Posted by siross

Just posted on there. I posted on a week or so back and nothing came up. Can't seem to find a great deal for a petrol crossover in stock.

https://www.contracthireandleasing.c...qai/247598455/

but thats 24 months not 36. In stock. Loaded car , 360 cameras , cruise etc and pano roof!

[siross]

Originally Posted by ciscopete822

https://www.contracthireandleasing.c...qai/247598455/

but thats 24 months not 36. In stock. Loaded car , 360 cameras , cruise etc and pano roof!

That's not a bad deal at all. Will do a bit of research on it.

Only concern would be the size. My wife wouldn't want a bigger car than the 2008.

Edit: would it be possible for Nissan to match those figures directly so we could test drive one?

[siross]

Originally Posted by Lobb

I'd certainly be marching down to my local Nissan garage and asking the question!

Just rang them and they're currently looking in to it. Will be popping down shortly

[ciscopete822]

Originally Posted by siross

Just rang them and they're currently looking in to it. Will be popping down shortly

Result!

[siross]

Originally Posted by ciscopete822

Result!

Just come back from Nissan and the closest they can get is £260 a month based on 6k miles. So nowhere near.

[ciscopete822]

Originally Posted by siross

Just come back from Nissan and the closest they can get is £260 a month based on 6k miles. So nowhere near.

No drama , not interested in your business , on to the next one!