Sarnie

lol

I'd be very curious as to how the one owner had owned it from new...................

Lots of lol's going on in this thread......

£12K FOR AN AUTO JDM IMPORT??????

Dear lord

Where are your cruise buttons?

I feel relieved

Random.

what would be the point in taking over someone else lease deal - there appears to be no financial incentive at all and your driving a "2nd hand" car - the main point of a lease (well one of them anyway) The financial incentive is that you do not have to pay the initial deposit which is usual 2 or 3 times the monthly payment

Speak for yourself

On a final note, as I actually have to do some work today , if you take out the PCP and then find that either you can't afford it, don't like the car or lose your job etc, your stumped. Just like all these people trying to get someone to take over their agreements; http://www.takemylease.co.uk/index.php

Chris, I know your a smart cookie, but your post is way off base. Deposits and GFV's are what PCP's are based on. No one is argueing this, apart from you. My arguement is for if Finance is needed then a straight forward = Deposit + 36/48/60 months of x amount = purchase of the car is the only way to go in my opinion. if you can't afford the payments that result in full ownership of the car at the end, then you can't afford the car imo. Simples. You 'value' the ownership of a car. You bought a car outright for circa £95k rather than putting down a deposit and buying a Huyara or Veyron and swishing around showing off to the world, a car that you could actually afford, and wasn't yours and never was going to be! Which I massively admire and respect. In the same way that I would respect someone more on here by owing a £7k zed outright more than someone wh0 leases a '12 plate Merc that has to give it back in 24 months... The similarities to house purchases is remarkably similar, especially given recent economic times. House prices have been 'depreciating' for at least five years but people haven't suddenly started buying them on Interest Only mortgages........quite the opposite, people/lenders have been strengthening their position by ensuring that repayment mortgages are the norm. When the @*!# hits the fan and you've been on the brink financially, would you rather be in a PCP deal that you have to pay up to the end of the contract or have a loan that you could pay off by selling the car?

Nooooooooooooooooooooooooooooooooooo I think that a one off period in a new car like the SLK could be ok, if you were going to give it back and get back into buying a car of some description. I just feel that once your in the 'system' your never going to have the disposeable cash to pay the monthly payment plus the deposit every 24 months, and then also saving a separate amount to buy another car or at least save a deposit for one etc. There are so many similarities to buying/renting houses. Once your renting it's hard to get out of the cycle and save your own deposit to buy your own house. I fully accept that my profession means that I am propably hyper sensitive to finance and the benefits of any such finance, and apologise if I've upset or annoyed anyone, but my opinion and or advice is based on seeing endless amounts of clients in the @*!# financially based on not really knowing the full implications of what they are getting into etc etc. If you can stomache blowing £3-£4k a year on hiring a car then go for it,

I used to do 2000 miles a month in my zeds, mostly motorway miles and never reset my trip computer ever, and never got over 24mpg...........I don't think I drove them particulary hard either.....

Must have been a strong tail wind to get 33mpg in a zed

My current loan is £310 a month, of which i think about £166 is dead money lost on depreciation. So £144 a month is actually 'buying' you something. When your loan ends, if your car is worth more than zero (which is where you would be after two years of PCP) then your better off. I think what we are actually debating here is almosy unquantifyable (sp) in that what some people view as value for money is different to other. For me, ownership of the car, even at the expense of higher payments and longer term is better than a shorter term, lower payments and driving a brand new car thats never going to be mine and will be getting swapped in x months time. I, personally, could only have a car on finance that I knew was going to be mine at the end. If I couldn't afford a car either to buy it outright, get a straight loan or finance where I owned the car at the end, then I wouldn't get it. Other people would be/are happy with the low repayments and thought of swapping their car every year or so. My mental image of these people (please don't anyone get offended by this ) is sales reps in shiny suits from River Island, who lives on a new build estate, and loves to show off to the neighbours that he can afford a new £40k every other year, when in fact they have a 120% Interest Only mortgage and the cars are on PCP. As Warren Buffet said; "When the tide goes out, you can see who's been swimming naked"

This is only the case if you want to swap your car regularly and is also only relevant if you have the cash to purchase outright. Lets say you do this; a) Buy a £35k car and keep it six years. Car is now worth £13-£14k. Hire a car at £7k every two years = £21k spent. a) This person still owns a car with no monthly repayment and can access the £15k in the car if needed. This person has bugger all to show for their £21k apart from swanning around in a brand new car that they never owned. Unfortunately you missed out a crucial part of the calculation. If person a was to borrow the £35,000 to purchase the car (90% of those who do) OR person b was to have the £35k in cash, but stick it into a savings account over the 6-year period rather than handing it over upfront for the car, at something like 6-7% APR (average over last couple of decades), person b would be around £15k better off in addition to the above calculation. So person b would only have spent £6k relative to the £13-14k outlay for person a. Complete bollocks, far too many holes for me to even bother responding to

He needs a job

This is only the case if you want to swap your car regularly and is also only relevant if you have the cash to purchase outright. Lets say you do this; a) Buy a £35k car and keep it six years. Car is now worth £13-£14k. Hire a car at £7k every two years = £21k spent. a) This person still owns a car with no monthly repayment and can access the £15k in the car if needed. This person has bugger all to show for their £21k apart from swanning around in a brand new car that they never owned.

Yep, im obviously aware that the £250 a month is dead money, in the same way that currently, £166 a month of my car payment is being lost in depreciation each month - on a 10 year old car!!!! This is not aimed at you liam, and im not taking this personally, but i do find it insulting to label anyone who would consider a PCP deal to be trying to buy something they cant afford, or saying they're overreaching etc. Until this last few months I was always of the same opinion, but having given it some thought i no longer feel the same. From a personal point of view i dont have £35k cash waiting in a bank account to be spent, and if i did it would NOT be being spent on a car as you quite rightly said. However that doesnt mean i'm poor and shouldnt consider a £35k car! For me its all about cash flow - lets say i've got £1200 a month of my income *spare* after all my bills have gone out. I could happily go out and get a £35k loan for a new car and afford to pay it, but then i'd have very poor cash flow for a long term. I would rather write off that £250 a month now (which i think with my previous post proved that i would lose more than that in depreciation over 2 years if i bought the car outright) and still have good cash flow to be used for other investment projects, which should eventually earn me more money. However - im raising these points and asking these questions to get some schooling anyway, as any financial advise is always useful. EDIT... i guess what im talking about could be called Opportunity Cost. Tying all my cash in a car to not lose too much money, vs keeping my money free to do other things with and hopefully grow. I never said you were poor Chris. But you are wrong on a few points. £250 a month on PCP is 100% dead money. Your current £166 a month loan is not 100% dead money as you are actually purchasing as asset and you can realise that money back as the car will be yours and at some point the loan will be repaid. At that point even if the car is worth £10k or £4k then that is something. With regards to utilising PCP to purchase a car you couldn't ordinarily afford, this is EXACTLY what it is. Your only financing the depreciation of the car whilst you hire it. I don't think it's insulting to say that PCP allows you to get into a car that you ordinarily couldn't afford, as this is EXACTLY what it is designed for. If you can't afford to pay it cash or get a loan or HP and afford the subsequent repayments; then you can't afford it. Hence where PCP comes in and allows you hire it for two years, at a lower cost than purchasing it and pay someone elses depreciation.

1. I never pee standing up, apparently this is not normal manly behaviour 2. I have many different watches, to match specific outfits and shoes/boots to match. 3. I remove long hairs from my eyebrows. 4. I get my back waxed. 5. I prefer to use ladies deodorant. 6. I get my body hair waxed off or shaved, including arse and balls 7. I mix lynx shower gel with dove triple moisturing shower gel so I smell nice and have soft skin. Oh and I use exfoliating gloves. 8. I use face moisturiser at least 3 times a day 9. I love when I can use girls lip balm. tastes, smells and looks awesome! Ive tried lip gloss a once aswell. It slidy but looks great. 10. I own (and use) hair straighteners 11. I like it when my missus buffs up my finger nails (makes them nice and smooth!) 12. I own more pairs of shoes than my wife.

Boom! Probably about 18 years left to pay on those Work wheels that have probably now corroded into a pile of ash

Good post. So i've just worked out two values... The first - i've worked out how much i've lost in depreciation on cars over the last 7 years. I've only ever had non-new cars (newest was 4 years old, but the average age of my cars is about 7 years old). During this time, i've lost a totoal of £14000 in depreciation, or £2k per year. Comparing the price of the SLK on PCP, a £1500 deposit + 23x £250 = £7250, or £3625 a year - so i'd be losing 80% more than i have done in the past on depreciation. Not good - although i would be driving a brand spanking new car for the first time ever. However - looking on parkers at the previous gen SLK, price new vs 2yrs old for the cheapest model in the range (and therefore lowest depreciation) - they lose £11k over 2 years (not including any interest on finance i'd have to pay!) - which is a damn site more than the £7250 it would cost me to own via PCP. Okay this isnt a totally fair test seeing as the 2011 SLK is at the end of the model iteration, but it's as good a comparison as i've got. (source = http://www.parkers.co.uk/cars/prices/us ... arplate=94) So based on the above... financially i'd be better off sticking with old cars as i've always done - obviously. However over a 2 year period, PCP works out cheaper than ownership, as far as i can see, and doesnt leave me with the overhead of trying to to pay a £35k loan. As with most things, it all really comes down to what you want for your money. I'm not directing this at you personally Chris, but I see this type of PCP deal as exploiting people who desperately want to be seen in the latest and greatest thing but can't actually afford to be doing so. If you had £35k-£40k cash sitting in the bank, would you drop it all on a diesel SLK? Probably not I'd say. But at £250 a month it seems reasonable, as long as your happy that it's completely dead money like renting a house. The actual depreciation may be the same or more than what you would pay by buying the car but the car would actually be an asset, in the same way that buying a house does. £7,500 over two years seems attractive but I couldn't stomache in two years time driving it to the dealership, handing the keys back and walking out thinking "what have I got to show for that money now?"

http://www.ebay.co.uk/itm/ALFA-ROMEO-GT ... 25725afe77