Does anyone have advice they can offer on a lease or pcp?
I’m thinking that I need something newer than my much loved MK1 Harvard, ideally with a good warranty package.
I’m doing a little over 30k per annum and was thinking that a lease on a new car under mazda warranty was probably the best way to go(?).
The best quote I have so far is £242 (ex vat) per month with an initial payment of £726, this is for a 2.0i SE on a 36 month term. Any opinions on how good a deal this is? or recommendations for companies that I should talk to?
But think about this. If you work it out over the three years with vat and your deposit you spend over £11,000.
From the sound of it it will be what is called in the trade a “non maintained package”. If you do 30K per year then you will need a service and consumables every 12,000 miles. Thats a significant maintenance cost. Or was the 30K over the three years. Less servicing but then the leasing company will want to sell you a low milage car at a premium.
Then after 36 months you either hand the car back or buy it.
Heres an alternative. Keep the Mark 1 as your fun car and go and buy a Ford Focus about a year old for about £9K and it will be comfortable to drive, reliable and will take the miles. Thats what I did and got £6K back when I traded it in at 4 years old for another 1 year old. Try that with a £25K Beamer!.
Still you pays yer money and makes yer choice as they say.
Thanks. I was hoping that the maintenance costs would be lower than they are now, but perhaps even though the car will be newer the maintenance will be higher if I’m forced to use a main dealer at each service.
I’ve got a bit of cash from work with all the miles I’m doing (it is 30k per annum - not a total for the three years) so I need to decide to get something newer, or start buying lots of bits for the current one. Of all the parts of my job driving my mx5 around the country is probably the most enjoyable, so while the cost is higher than something like a focus I’m happy to pay it.
On Monday I’ll talk to a few more companies but my thoughts at the minute are that a 2 year old car with less than 10k on the clock might be a better bet, based on autotrader that should cost around £9k. Assuming a £1k deposit and 12.9% apr (bank loan rate) that comes to £266.40 over 36 months, which (once vat is accounted for) is less than the lease cost and leaves me with the car at the end of the term. It would be interesting to see a lease figure based on the same car - hopefully I can get that on Monday.
are you sure the pcp figure includes the 30k, thats 90k at 3 years and the car wont have a great value, you should see an excess mileage charge in the quote? 30k a year in an MX5, not that great, even a focus will be more comfortable!
We keep an MX5 which we put on a low mileage PCP - give it back at 3 years and walk away, do the high miles in a car!?