Spec me a car

[tom26]

Hi Guys,
Hoping you can help...
I've just had a new job offer which would mean me having to have my own car instead of a company car and I've no idea of what I could have with the budget I've got.

Currently I've got a 320d which is fully spec'd with leather, nav etc and would ideally like to get something similar.

With the new job I'll be doing 50 miles commuting each day with a mix of motorway and town driving involved so don't want something that's going to be too costly on fuel.

Budget I have is £450pm to spend and I'm not bothered whether it's new, used or even a lease. I'm just looking for advice really as it's 4 years since I've had to have my own car so I'm open to suggestions.

Thanks

 

[rodenal]

Depends what you're aiming for I guess

Maximum savings whilst running an acceptable car would give you different choices from of you're happy to spend the full allowance on something.

Have you worked out what you have nett for the car itself?

 

[mr tommo]

Will your company be able to get you a business rate lease for you?

If so Jag XF £272 +vat 9+35 http://www.mad-sheep.co.uk/business...iesel-saloon-22d-163-luxury-4dr-auto-12608747

Mercedes C class coupe - 9+23 at £217 +vat http://www.mad-sheep.co.uk/business...coupe-c250-cdi-amg-sport-edition-2dr-10365655

 

[rodenal]

9+35's are crazy, much better with a sensible up front payment and higher monthly sums.

Who honestly wants to lay down 3 grand up front for a lease?

 

[tom26]

I can afford to spend the full £450 on the car each month that's not an issue but literally have no idea what I can get for that money as it's been such a long time since I've bought a car.

Unfortunately they won't let me get a business rate lease so I'd have to rule that out

 

[mr tommo]

9+35's are crazy, much better with a sensible up front payment and higher monthly sums.

Who honestly wants to lay down 3 grand up front for a lease?

My mistake it's a 6+35.

EDIT : Infact, just ignore my whole post. Mileage is at 10k per year and the OP will be commuting around 13k.

 

[rodenal]

I can afford to spend the full £450 on the car each month that's not an issue but literally have no idea what I can get for that money as it's been such a long time since I've bought a car.

Unfortunately they won't let me get a business rate lease so I'd have to rule that out

What size / class of car are you after?

If you like the 320d I'd expect you to have change on a lease - would it not get you a nice 5 too? Or any of their equivalents. ( though without maintenance on the larger car at a guess)

Buying makes more financial sense for you, but if you're being given the money regardless and are just not bothered then a maintained lease will give you the co car experience

Edit in saying that maybe at 24kpa you'll be limited to the smaller car, I really like the f30 though

 

[tom26]

I'd like another 3 series but to be honest it's not essential. I don't have a family so could down size to a 1 series or maybe an A3.

Can you recommend any good lease companies so I can take a look?

 

[rodenal]

I haven't actually used any for years but a couple of decent sites to get you started:

Www.nationwidevehiclecontracts.co.UK

The above is pretty useful as it will instantly adjust for mileage rather than an emailed quote

Www.gateway2lease.co.UK

Www.contracthireandleasing.co.UK

There are a couple of others that come up with cracking deals every so often but I can't remember the names unfortunately, possibly pantheon leasing?

It's also well worth considering picking up a 6 month old car then moving it on after 2 years. I can't see a £10k loss over 2 years and say 50k miles on the likes of an F30 320/25/30d (though it might be relatively close), but the leasing cost without maintenance looks like it'd be close to your £450 per month.

Again it depends on what your priorities are for the money really

 

[rossk26]

Personal Loan a viable option? £15k over 3 years is just under £450 a month. Or take it over 4 years for £340 a month and the rest to cover insurance/maintenance/tax etc.

Then after 4 years you have an asset to sell, rather than handing the keys back and nothing to show.

You could get a 1/2 year old fully kitted Mondeo for £15k

 

[rodenal]

4 years and 100k miles will aboslutely destroy the value though. I still think buying a car is worthwhile but i'd probably only keep it two years.

I can also see why the OP would just chose to lease given it's a guaranteed car allowance

 

[rossk26]

Less hassle leasing I suppose, but there is potentially money to be made in buying and then selling on. Could pay for a holiday every 3/4 years...

 

[Stringy]

4 years and 100k miles will aboslutely destroy the value though.

I think your calc there is based on 50 miles each way, each day, which is not what the OP has said, he's merely stated 50 a day which is less than 12000 miles a year commuting based on 30 days Leave on top of weekends.

Need clarification from the OP...

 

[rodenal]

That's true, having re-read it I must have thought it said "each way" not "each day"

12kpa makes a massive difference to both lease costs and the potential cost of ownership.

Potentially you'd be able to come close to fully cover the running costs of an average (focus etc) car - or use the cash solely to cover the month to month "purchase" cost of a very nice car

 

[tom26]

Sorry I should have clarified its 50 miles per day. In total with personal use I'd expect to be doing about 16k per year.