Buying a brand new 200 from Renault...

[Jamie16v]

I've never bought a brand new car and was looking at this. Whats peoples opinions on it?

http://www.renault.co.uk/cars/model/renaultsport/offerdisplay.aspx

Basically £269 deposit then £269 for 43 months

Regarding the optional final payment does this mean if you don't pay it you give the car back?

 

[Fred@BTM]

expensive way to lose money!

 

[Jamie16v]

expensive way to lose money!

I couldn't work out if it was expensive or not. After 43 months would it be worth more than the final payment?

Also do they have a mileage cap as I do 50+ a day!

 

[Maccy]

Why not add it all up and work it out?

And read the small print - The Finance example is based on 6,000 miles per annum.

 

[Fred@BTM]

so you can do 16miles a day, whoo!

 

[Revels]

So you're going to potentially pay £11.5k and then hand it back? Or then pay another £6k to keep it?

Depends how much money you have and if you want to spend a lot of it on a Clio.

How old are you? Do you have a house/deposit?

 

[ado]

It's not bad for a new 200. Different people is going to have different views but it comes down to you. Are you not adding options?

Get £13k and buy mine. 1 yr old with lots of option vs new with none.

 

[COLZO]

Great feeling buying a new car BUT the money use lose is scary. Before you pay the final payment I would be checking trade in prices for 4 year old cars. Depends on your financial circumstances really.

 

[andyclio200]

I got a clio rs200ff with 0% can choose over how long ya want to pay it and its as simple as that, no need for a huge deposit just straight forward payments and no baloon

 

[Iain C]

Id get a 2nd had one for 10k .

 

[Gaz_]

But you'll be 27 buy the time the finance up, and you'll still be in a Clio *cringe*

 

[UnderSteerDan]

But you'll be 27 buy the time the finance up, and you'll still be in a Clio *cringe*

I'm about to turn 29 and still have a 182 in the garage... *cringe even more!*

 

[GiT]

It's depreciation... that's all. PCP or Cash deal - PCP holds the naffness of interest unless you tie it down to a great rate.

I'd do another PCP tomorrow if I was going to actually use the car - but it's the reason the 200 went... it wasn't getting used.

 

[Bluebeard]

a 4 year PCP is financial suicide.

Avoid.

 

[GiT]

a 4 year PCP is financial suicide.

Avoid.

In what way?

 

[riz]

In what way?

A way similar to rubbing your anus with £50's.

 

[edde]

Alternativly buy a used 200 the cheapest is £9k asking for on the trader and get a personal loan. Some quick guessed numbers show you could own one fully after 3 years so Ok would be a 6 year old car but you'd own it all.

Compaired to buying one on this deal the second hand one is worth say £2~2.5k after 43 months plus the extra £1750 you have you won't have spent on finance over the last 7 months. Your new now 3.5 year old cars worth the buy back value so realy you have no deposit vs £3.75k~4.25k by buying the second hand one.

£13k will see you in a 2011 car which assuming you finance over 36 month ie when you sell its worth same/same age as the new one it would cost you an extra £4.7k but the car should be worth say £6k so you have £1.3k in your hand.

Things get better still if your willing to go for a Mk3 197 though £7k for a low milage 08 model. get a loan and pay back over 2 years the same level as the new car and you own it outright.

 

[Martin_172]

depends on your outlook, cars are a complete waste of money no matter what way you look at it, you can limit how much you waste but depends what your looking for, ive started buying new and changing when its a year old, i loose quite a bit but it suits me as i like having something new, you may be the complete opposite it totally depends on what your looking for!

 

[Fred@BTM]

^unless you buy a V6 and then you lose no money

 

[COLZO]

ive started buying new and changing when its a year old

Just plain crazy, but it's your money!

 

[Brett]

200's have got silly expensive. What happened to £999 down and £199 for 2 years?

 

[MarkCup]

I've never bought a brand new car and was looking at this. Whats peoples opinions on it?

http://www.renault.co.uk/cars/model/renaultsport/offerdisplay.aspx

Basically £269 deposit then £269 for 43 months

Regarding the optional final payment does this mean if you don't pay it you give the car back?

If you give it back and walk away, having limited yourself to the 6,000 mile a year over 4 years, that's 50p per mile on 'depreciation' alone.

How many miles a year do you do?

 

[Sargara]

200's have got silly expensive. What happened to £999 down and £199 for 2 years?

Even worse take a look at that Megane deal on the same link posted. £403 per month compared with £1999 down, and £199 per month! ouch.

 

[gwilson]

funny how people who want a new car never have the cash to go buy one outright, but are quite happy to lose £6-8 grand on owning one, it would take the fun out of owning one if i thought it was going to lose all that cash. i would always save half the amount needed then get the best deal for the rest, that way if i lost my job or could not work i would be able to clear all i owed....

 

[Sargara]

funny how people who want a new car never have the cash to go buy one outright, but are quite happy to lose £6-8 grand on owning one, it would take the fun out of owning one if i thought it was going to lose all that cash. i would always save half the amount needed then get the best deal for the rest, that way if i lost my job or could not work i would be able to clear all i owed....

You would "lose all that cash" either way on a new car even if you bought it outright, either through finance/PCP repayments or through depreciation on the value.

Buy car outright for £15k. Sell in 2yrs for 10k. 5k depreciation.
PCP 15k car for £250pcm. Trade back in 2yrs for 10k. 5k used for leasing.

Your losing money regardless of which method you use its just a matter of would you rather tie up 15k of your funds in an asset or not for example.

 

[Jamie16v]

Thanks for everyones advice on this.

If you give it back and walk away, having limited yourself to the 6,000 mile a year over 4 years, that's 50p per mile on 'depreciation' alone.

How many miles a year do you do?

Thats a good calculation, I do at least 50 miles per day (motorway) therefore I'd have to drive it backwards alot at the weekend!

 

[Sargara]

The mileage limitation only comes into things if you hand the car back at the end. If you decide to Part-ex this, buy it, or re-finance at the end then the mileage doesnt matter in regards to the "over mileage fine per mile" or whatever its called.

 

[COLZO]

The mileage limitation only comes into things if you hand the car back at the end. If you decide to Part-ex this, buy it, or re-finance at the end then the mileage doesnt matter in regards to the "over mileage fine per mile" or whatever its called.

Surely you can't 'part exchange' the car if its not technically yours?

 

[Sargara]

Lets say the balloon payment at the end of the deal is 8k, but the car is worth 9k. You can part-ex this to a dealer (they settle the finance) and use the 1k as a deposit/part-ex on something else.

[edit]Lol sorry to have de-railed the topic, im not claiming to be an expert on this subject but obviously being in this position myself and from the research ive done this is how i see the situation. I might be wrong of course so please dont take my word as gospel.

 

[COLZO]

Lets say the balloon payment at the end of the deal is 8k, but the car is worth 9k. You can part-ex this to a dealer (they settle the finance) and use the 1k as a deposit/part-ex on something else.

OK understood.

 

[edde]

Lets say the balloon payment at the end of the deal is 8k, but the car is worth 9k. You can part-ex this to a dealer (they settle the finance) and use the 1k as a deposit/part-ex on something else.

[edit]Lol sorry to have de-railed the topic, im not claiming to be an expert on this subject but obviously being in this position myself and from the research ive done this is how i see the situation. I might be wrong of course so please dont take my word as gospel.

But in the case of this deal the car will only be worth approx what the baloon is I'd guess won't get much equity out,

 

[Martin_172]

funny how people who want a new car never have the cash to go buy one outright, but are quite happy to lose £6-8 grand on owning one, it would take the fun out of owning one if i thought it was going to lose all that cash. i would always save half the amount needed then get the best deal for the rest, that way if i lost my job or could not work i would be able to clear all i owed....

i would never buy a brand new car cash with savings, i prefer to keep the savings and loose cash monthly in the payments rather than in one chunk. however it probably doesnt matter what way you look at it your still loosing it!

 

[Jamie16v]

i would never buy a brand new car cash with savings, i prefer to keep the savings and loose cash monthly in the payments rather than in one chunk. however it probably doesnt matter what way you look at it your still loosing it!

Yeah and the fact most people don't have 16-17k lying around in their savings

 

[Martin_172]

Yeah and the fact most people don't have 16-17k lying around in their savings

remember this is CS.net, most have that just lying in the cup holder of there car

 

[Revels]

i would never buy a brand new car cash with savings, i prefer to keep the savings and loose cash monthly in the payments rather than in one chunk. however it probably doesnt matter what way you look at it your still loosing it!

So you'd rather pay a large interest rate and keep your savings for at a small interest rate?

And it's lose. Not loose.

 

[Gally]

Really you're just leasing/renting the car. It'll never really be yours on PCP especially.

 

[nick30]

I got a clio rs200ff with 0% can choose over how long ya want to pay it and its as simple as that, no need for a huge deposit just straight forward payments and no baloon

this is what i did. If you can get a good wedge off the list price as well then it works out quite well. Have a word with Richard at Crawley Down, he gave me a brilliant deal last year, although i guess it depends on what Renault are offering the dealerships at the time.

 

[Rob Gee]

So you'd rather pay a large interest rate and keep your savings for at a small interest rate?

And it's lose. Not loose.

This,

It's nothing short of stupid to be paying interest on borrowed money if you have it in the bank. I can see the appeal with a new car but then again I don't. The money you would lose in a 4 year period is a house deposit ffs.

 

[Bob Leathem]

When you hit 40 you will look back and wish you had saved that money.

 

[SimonR.]

Can people remember with a new car you also get three years warranty (which on a french car you need), usually get three years free servicing labour wise, you don't have to buy the car at the end, for example if they are cheaper than the baloon payment, hand it back buy a second hand one, if its more, free money.

Interest is relatively low or 0% on offers.