Car buying dilemma...
Discussion
I've been leasing cars since about 2012 (always 24 months, 10k and 6 months up front deals), my current deal ends in Dec 24 and I need to get another. Only thing is the price of lease deals nowadays are really high, anyway I've managed to find a deal on a Hyundai Tucson which I'm ok with.
However part of me feels like its time to move away from leasing and buy a 2nd hand car, I'm looking at SUV's and really like the Volvo's XC60's, however the prices are high and to buy one I'll likely put in a decent deposit and get a bank loan to buy outright rather than PCP.
Seen a lot of XC60's around the £24k mark, test drove one yesterday but it was a 2018 for £23k and a bit bland as it was the base model, I saw a stunning one in the dealers yesterday for £32.5k and I suddenly realised I've gone from looking at £20k ish prices to being totally smitten with this one for £32.5k.
What do you think is a reasonable discount on car dealerships nowadays especially how all I hear is dealers struggling to sell cars, 2nd hand prices falling etc etc. I ask because I put the licence plate in parkers free price valuation and it comes out at £29.5 to £30k for a dealer.
On a last note a little part of me thinks just take one more lease deal then in 2 years time hopefully the market is a bit more settled and gives me time to work out what I want and can afford without rushing into anything?
Thoughts?
However part of me feels like its time to move away from leasing and buy a 2nd hand car, I'm looking at SUV's and really like the Volvo's XC60's, however the prices are high and to buy one I'll likely put in a decent deposit and get a bank loan to buy outright rather than PCP.
Seen a lot of XC60's around the £24k mark, test drove one yesterday but it was a 2018 for £23k and a bit bland as it was the base model, I saw a stunning one in the dealers yesterday for £32.5k and I suddenly realised I've gone from looking at £20k ish prices to being totally smitten with this one for £32.5k.
What do you think is a reasonable discount on car dealerships nowadays especially how all I hear is dealers struggling to sell cars, 2nd hand prices falling etc etc. I ask because I put the licence plate in parkers free price valuation and it comes out at £29.5 to £30k for a dealer.
On a last note a little part of me thinks just take one more lease deal then in 2 years time hopefully the market is a bit more settled and gives me time to work out what I want and can afford without rushing into anything?
Thoughts?
Edited by Martylaa on Wednesday 13th November 09:04
Inflation means prices will only head one way. Fact is the only second bargains around at the moment are for 12-36 month old EVs, eg 2022 jag ipace hse - top spec and originally an £80k car - plenty available between £25k and £30k. That or stick to leasing brand new EVs, just watch out for the tax hike next April.
If EV is an option then there will never be a better time to get one, otherwise just need to accept that paying £10k for an 8 year old 100k miles ford s max like in a recent thread, or £25k for a 6 year old poverty spec xc60, depressing as that is, is just the going rate now.
If EV is an option then there will never be a better time to get one, otherwise just need to accept that paying £10k for an 8 year old 100k miles ford s max like in a recent thread, or £25k for a 6 year old poverty spec xc60, depressing as that is, is just the going rate now.
Are you able to extend your current lease deal for 12 months or so, in order to give you some time to decide what you wish to do, especially if you can extend it at the current rate?
Check similar XC60s on Autotrader and that will give you an indication of the prices / specification of various models / mileages.
It is easy to start off with a specific budget and then be enticed by the newer, higher spec'd model and before you know it your budget has run away from you.
Check the costs of bank loans as well and build that into what you can afford as that way you'll know your total budget.
Check similar XC60s on Autotrader and that will give you an indication of the prices / specification of various models / mileages.
It is easy to start off with a specific budget and then be enticed by the newer, higher spec'd model and before you know it your budget has run away from you.
Check the costs of bank loans as well and build that into what you can afford as that way you'll know your total budget.
66HFM said:
Are you able to extend your current lease deal for 12 months or so, in order to give you some time to decide what you wish to do, especially if you can extend it at the current rate?
Check similar XC60s on Autotrader and that will give you an indication of the prices / specification of various models / mileages.
It is easy to start off with a specific budget and then be enticed by the newer, higher spec'd model and before you know it your budget has run away from you.
Check the costs of bank loans as well and build that into what you can afford as that way you'll know your total budget.
Already extended it 6 months tbh, I get what you mean about the enticement side of things, my missus doesn't help just telling me to buy what I really want haha, when it comes to cars I normally just plunk for a decent priced SUV on a lease, cars are just for getting me from A to B but my missus on the other hand is a bit of a brand snob.Check similar XC60s on Autotrader and that will give you an indication of the prices / specification of various models / mileages.
It is easy to start off with a specific budget and then be enticed by the newer, higher spec'd model and before you know it your budget has run away from you.
Check the costs of bank loans as well and build that into what you can afford as that way you'll know your total budget.
Might just do the lease for the last time and see where things are in 2 years time...
Martylaa said:
I've been leasing cars since about 2012 (always 24 months, 10k and 6 months up front deals), my current deal ends in Dec 24 and I need to get another. Only thing is the price of lease deals nowadays are really high, anyway I've managed to find a deal on a Hyundai Tucson which I'm ok with.
Can I be rude and ask what the approx acceptable monthly has been vs the now not so much? eg are we talking from £400 to £600 type of thingBaldchap said:
MYOB said:
A Volvo will certainly cope with getting old.
The stats seem to suggest that's no longer true. I saw Volvo languishing down with JLR on the last reliability stats I saw... That's from someone with a 20 year old Volvo PubKa. Scootersp said:
Can I be rude and ask what the approx acceptable monthly has been vs the now not so much? eg are we talking from £400 to £600 type of thing
Well for me, I've gone from a Qasqhai for £280 per month to a Tuscon for £365, same spec Qasqhai to my current model has gone up about £80 per month...MYOB said:
Baldchap said:
MYOB said:
A Volvo will certainly cope with getting old.
The stats seem to suggest that's no longer true. I saw Volvo languishing down with JLR on the last reliability stats I saw... That's from someone with a 20 year old Volvo PubKa. https://www.which.co.uk/news/article/is-this-the-u...
_Hoppers said:
MYOB said:
Baldchap said:
MYOB said:
A Volvo will certainly cope with getting old.
The stats seem to suggest that's no longer true. I saw Volvo languishing down with JLR on the last reliability stats I saw... That's from someone with a 20 year old Volvo PubKa. https://www.which.co.uk/news/article/is-this-the-u...
Martylaa said:
Well for me, I've gone from a Qasqhai for £280 per month to a Tuscon for £365, same spec Qasqhai to my current model has gone up about £80 per month...
Ok so about a grand extra a year, one years contributions could get a reasonable car, two years what i'd consider a very nice one, so I can see your point, the 'come down' is the issue I spose after being so long in new cars hence you looking in the £20k range and then getting that budget creep upwards! Difficult for me to say much more as it's not my area of experience, other than I'd struggle to keep the same car for long, the leasing at least changes things up?
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