Adge
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Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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iam not 100% sure what iam asking but iam sure ive heard some people say
they pay so much a week for a Brand new car
Every 3 years you get an upgrade???
any1 heard anything like that?
is it like hire car? or how does it work
[Edited on 02-10-2008 by Ian]
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Ellis
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Registered: 11th Sep 07
Location: Aberdeenshire
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Heard something about that on the radio, didn't soak up the info though, my bad
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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Could be leasing. You generally put 3 months down as a deposit, then pay monthly over your contract term.
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alan-g-w
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Registered: 9th Nov 07
Location: Glasgow
User status: Offline
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I think you're talking about finance...
A guy at work has it on his Corsa C. After 3 years he can get a new car at a discounted price or something like that.
[Edited on 01-10-2008 by alan-g-w]
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Joe
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Registered: 20th Jun 04
Location: Hesketh Bank, Lancashire
User status: Offline
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pcp finance is it not?
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Kyle471
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Registered: 22nd Feb 08
Location: Wombwell, Barnsley
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someone i know got a car on finance payin something like £400 a month for it or something silly then after 3 years he can get some cash and wakl away... upgrade to the latest model and start finance again or pay like a grand and get the car.
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Kurt
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Registered: 23rd Oct 05
Location: Hi
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Well in my case ill be paying £250 a month for 3 years to own my car outright.. then after 3 years ill just trade it in (part ex)..
The bonus i get is that i have 25% off a new fiat.. so straight away im saving £3000..
With any new car you lose the vat as soon as you drive it away... (worked out around £1000 in my case)
my car is worth 13k.. i pay £9k
my car stands to lose 3-4k in that 3 years..
so essentially i get 3 years hassle free motoring under warranty for about £1000
[Edited on 01-10-2008 by Kurt]
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Adge
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Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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yeah iam not100% sure either! but i was lead to believe that, you upgrade after 3 years at no extra cost, just continue paying per month! iam tempted as i want a new car!!
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Kurt
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Registered: 23rd Oct 05
Location: Hi
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sounds like your talking about hire purchase.. you pay so much a month.. then in the last month you either pay off the remainder... chuck it back at them or start again with a new car
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Most finance deals at garages aren't strictly advertised as leasing, although it is.
The main thing is £1k deposit for example, £250-ish monthly instalments. Then at the end of the 3 years, you either pay the rest off (can work out as much as £2.5k if not more) or get another new car, and start the finance all over again.
I shouldn't imagine you strictly own the car though, so modding etc would be a no no.
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deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by Kurt
sounds like your talking about hire purchase.. you pay so much a month.. then in the last month you either pay off the remainder... chuck it back at them or start again with a new car
Beat me 
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Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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yeah that sounds more like it! any links to info etc??
i dont want a small car i want something proper! willing to pay £400 a month Max!
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by Adge
yeah that sounds more like it! any links to info etc??
i dont want a small car i want something proper! willing to pay £400 a month Max!
Choose and car and see what dealers are doing what deals. Simple as that really.
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Kurt
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Registered: 23rd Oct 05
Location: Hi
User status: Offline
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The only thing with hire purchase is usally the last payment is huge!!
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Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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quote:
Originally posted by deano87
quote:
Originally posted by Adge
yeah that sounds more like it! any links to info etc??
i dont want a small car i want something proper! willing to pay £400 a month Max!
Choose and car and see what dealers are doing what deals. Simple as that really.
Orite so any dealer does it!
i fancy a Audi/bmw so i might just call in at the weekend!
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AndyKent
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Registered: 3rd Sep 05
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Most dealers do it but it isn't as cheap as you think.
Vauxhall for instance do "choices".
You pay no deposit at all, monthly payments over 3 or 4 years, then either return the car free of charge, or buy it off them at a 'fixed price'.
Problem is that if you return the car, you have just spent 4 years paying something you no longer have. If you buy the car off them, you'll pay just as much as buying it outright in the first place.
If you decide to give it back, thats it. You won't get any discount on the next car, you just start all over again.
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Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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yeah but with the way car prices are falling at the minute even if u buy 2nd hand ure gona lose mega money in a short time peroid! i dont mind paying for sumthing that i have to give back as long as its worth it!
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Mike
Organiser: North West and North Wales
Premium Member
Registered: 20th May 06
Location: nr. Skipton, North Yorkshire
User status: Offline
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Think you're on about contract leasing, where you lease a brand new car for 2-3 years. Generally pay a deposit then so much a month. End of it you give the car back or sometimes you get the option to buy I think.
My Dad and brother have both looked into it, none have gone for it yet but my brother worked it out that over the time it'd probably cost slightly less than the depreciation if you actually went out and bought the same car then sold it after the same period.
Seems like a good idea to me, you don't have to pay the full sum upfront or go through finance or try and find a loan.
Only downside I'd say is that at the end of the term any damage beyond 'normal wear and tear' (each company'll have their own guidelines, chips upto a certain diameter etc.) has to either be repaired or the company charge you for the repair.
Just type contract leasing into Google, there's plenty about. A lot of main dealers do it too, although when my mum asked at the local fiat dealer the salesman said yeah, then walked off and sat down 
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Adge
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Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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cheers ill look into it  , my other option at the minute is to buy a really old classic car!! i duno why i just really want 1!
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AndyKent
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Registered: 3rd Sep 05
User status: Offline
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If you're worried about depreciation in the current market, the worst thing you could do now is be looking at new cars, whatever the purchase method
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Joe
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Registered: 20th Jun 04
Location: Hesketh Bank, Lancashire
User status: Offline
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Matty G off here with the A3 has this kinda thing on his car I think.
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Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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quote:
Originally posted by aPk
If you're worried about depreciation in the current market, the worst thing you could do now is be looking at new cars, whatever the purchase method
haha i know! but i cant help it! ive just got 5 years no claims and just turned 22 AND A payrise! and things are going good so iam treating my self!
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Colin
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Registered: 4th Apr 02
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Dont think id want to be tied to payig a car for 3 or 4 years tbh.
Save up, it takes a while but its good to pay cash.
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Adge
Member
Registered: 28th Aug 04
Location: Lancashire
User status: Offline
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quote:
Originally posted by Colin
Dont think id want to be tied to payig a car for 3 or 4 years tbh.
Save up, it takes a while but its good to pay cash.
IMPOSSIBLE MATE! i cant save up, i am a homeowner aswell so weneva i save up it gets spent
ive tryed before and ended up with a spenting 2k on my kitchen !
so ive just got to go for it now! but i dont want another loan!
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by Adge
quote:
Originally posted by Colin
Dont think id want to be tied to payig a car for 3 or 4 years tbh.
Save up, it takes a while but its good to pay cash.
IMPOSSIBLE MATE! i cant save up, i am a homeowner aswell so weneva i save up it gets spent
ive tryed before and ended up with a spenting 2k on my kitchen !
so ive just got to go for it now! but i dont want another loan!
Buy a car for £8k then
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