What's new

Getting a new car in Uk?

S class is expensive. 190k miles wow, now that's one heck of a car!

Everyone is probably going to hate me for this but here's my idea. If you don't really care about how the car looks and modern tech then buy a used Toyota Avensis. They are cheap for one (probably won't need finance) and they are reliable. They shouldn't have any major problems if you maintain them.


Honestly I'd prefer buying a Toyota or Honda over all the other models available,two years ago I bought a 2007 model Vauxhall corsa for £1500 and ended up spending a whopping 900 on it's maintenance in one year and even after that it ended up with a troublesome gaskit so had to send it to the scrapyard.

Do you guys think keeping a Merc or a Bmw would be a good choice keeping in mind I hardly do 5000 miles a year!
 
.
Brother that all depends how much you wanna spend and that includes road tax as well as insurance. If you wanna buy a high end German cars like Audi or bmw, irrespective of their mileage if they are maintained nicely they are all right but always buy through the proper dealer ship as these mushroom type of dealers always clock their meter back.

I don’t trust them a bit.
 
. .
Most of the dealers here offer upto 8k miles per year and my credit score isn't too bad,I hardly do more than 5000 miles a year anyways so 8k is like a big hop for me.I have got a car worth 3500 pounds now and am thinking of selling that so that can buy a newer one.

Look bro, If you have £3500 to put as a deposit and have good credit rating, I will suggest you go for a brand new car. I will give you advice, the approach I use, even for very expensive cars. So I am sure it would help you a little.

You know that most car dealers offer PCP deals, in which you pay deposit and pay installments over (generally) 3 years and at the end of the period you pay final (future valuation) payment to own the car outright or go for a new car once again.
The issue with this option in my opinion are;

- It may seems that you are paying a smaller payment i.e. £200 pm. Which looks affordable on the surface.
But remember to own the car outright, you still have to pay the final payment, which for argument sake say is £8000. This amount is realistic for a small/medium size car in the UK as a final payment.
- That means that you have to save another £8000 in 3 years (36 months) to own the car outright. i.e. £222 pm.
- Therefore as a matter of fact you have to keep £422 a month to own the car outright in 3 years time.

This is an expensive and not a suitable way to buy a car. Provided you have good credit rating. Get a loan from a a bank to cover the full cost of the car minus the deposit of £3500 you have. For example if the car is worth £18000-£3500=£ 14,500 loan. It probably would cost you may be £100 extra in payment rather than £200 installments.
But another advantage of this approach is that the car is yours from the first day rather than owned by the finance company until you pay off the final payment of £8000, for which you probably would need another loan anyway.
Secondly it would save you plenty of money in interest too. The finance company charge higher rate. typical rates are 6.99% APR to 10.00% APR.

I gave a simple example of me buying a Land Rover 1.5 years ago.
I decided to get a loan of £30,000 from a bank at the rate of 2.5% over 3 years, which costed me around £1500 interest. The rest of £24,000 I paid cash. The car was mine from day one, with no restrictions on use and millage.

If I didn't get the loan, the equation would have been something like this, £14,000 advance, 36 monthly installments of £499.00=£17,964 and final payment of £28000 Total payable £59,964.00 including a interest element of close to £5000. Remember you pay interest on the final payment of £28000 too when you use PCP option.
I was able to pay my loan early in less than 1.5 years and now the car is mine 100% with no payment to make.
I only paid less than £800.00 in Interest by settling the loan early.

The other good option is to chose a car, where dealer is offering 0% finance, as long as the usage annual limit is not a problem. In that case you can try to save the money for final payment and own the car outright after 3 years.
If interest is involved, financing it through bank loan is far far better option, it would save you over £1500 in interest even for a smaller and cheaper car.

I would do neither. It's burning money for 5k annual mileage.

You've got a Vauxhall, it will give you troubles.

Personally, I would buy a 2nd hand Merc S class diesel for the kind of annual mileage you are doing. These are solid cars if you get it checked thoroughly before buying. 2007 E class is also very good.

My S class is touching 190k miles and still going strong. It's serviced and maintained regularly and no big expenses so far. Done 50k miles in last 2 years alone.

So all depends on you wanting new for more money or nicer older car for less money.

I had a new S class of 2017. I gave it up and gone for Land Rover. Yes, they are very nice cars, pleasure to drive, but very expensive to run and maintain.
It costs over £100,000 in the UK to own a new S class. Not everyone's cup of tea.
 
.
Look bro, If you have £3500 to put as a deposit and have good credit rating, I will suggest you go for a brand new car. I will give you advice, the approach I use, even for very expensive cars. So I am sure it would help you a little.

You know that most car dealers offer PCP deals, in which you pay deposit and pay installments over (generally) 3 years and at the end of the period you pay final (future valuation) payment to own the car outright or go for a new car once again.
The issue with this option in my opinion are;

- It may seems that you are paying a smaller payment i.e. £200 pm. Which looks affordable on the surface.
But remember to own the car outright, you still have to pay the final payment, which for argument sake say is £8000. This amount is realistic for a small/medium size car in the UK as a final payment.
- That means that you have to save another £8000 in 3 years (36 months) to own the car outright. i.e. £222 pm.
- Therefore as a matter of fact you have to keep £422 a month to own the car outright in 3 years time.

This is an expensive and not a suitable way to buy a car. Provided you have good credit rating. Get a loan from a a bank to cover the full cost of the car minus the deposit of £3500 you have. For example if the car is worth £18000-£3500=£ 14,500 loan. It probably would cost you may be £100 extra in payment rather than £200 installments.
But another advantage of this approach is that the car is yours from the first day rather than owned by the finance company until you pay off the final payment of £8000, for which you probably would need another loan anyway.
Secondly it would save you plenty of money in interest too. The finance company charge higher rate. typical rates are 6.99% APR to 10.00% APR.

I gave a simple example of me buying a Land Rover 1.5 years ago.
I decided to get a loan of £30,000 from a bank at the rate of 2.5% over 3 years, which costed me around £1500 interest. The rest of £24,000 I paid cash. The car was mine from day one, with no restrictions on use and millage.

If I didn't get the loan, the equation would have been something like this, £14,000 advance, 36 monthly installments of £499.00=£17,964 and final payment of £28000 Total payable £59,964.00 including a interest element of close to £5000. Remember you pay interest on the final payment of £28000 too when you use PCP option.
I was able to pay my loan early in less than 1.5 years and now the car is mine 100% with no payment to make.
I only paid less than £800.00 in Interest by settling the loan early.

The other good option is to chose a car, where dealer is offering 0% finance, as long as the usage annual limit is not a problem. In that case you can try to save the money for final payment and own the car outright after 3 years.
If interest is involved, financing it through bank loan is far far better option, it would save you over £1500 in interest even for a smaller and cheaper car.



I had a new S class of 2017. I gave it up and gone for Land Rover. Yes, they are very nice cars, pleasure to drive, but very expensive to run and maintain.
It costs over £100,000 in the UK to own a new S class. Not everyone's cup of tea.


Your explanation really sense bro,will try to follow your advice.
 
.
Honestly I'd prefer buying a Toyota or Honda over all the other models available,two years ago I bought a 2007 model Vauxhall corsa for £1500 and ended up spending a whopping 900 on it's maintenance in one year and even after that it ended up with a troublesome gaskit so had to send it to the scrapyard.

Do you guys think keeping a Merc or a Bmw would be a good choice keeping in mind I hardly do 5000 miles a year!
I'm 18 and don't have insurance, therefor I don't drive much, we have a Toyota Avensis which isn't used a lot.. Roughly around 3k miles a year. Works like a dream.

Toyota Avensis TR 2008 hatchback.
 
.
for 30-50k pounds you can easily get a nice car in UK. You can easily save 50k or more in a year doing a normal job.
 
Last edited:
.
Look bro, If you have £3500 to put as a deposit and have good credit rating, I will suggest you go for a brand new car. I will give you advice, the approach I use, even for very expensive cars. So I am sure it would help you a little.

You know that most car dealers offer PCP deals, in which you pay deposit and pay installments over (generally) 3 years and at the end of the period you pay final (future valuation) payment to own the car outright or go for a new car once again.
The issue with this option in my opinion are;

- It may seems that you are paying a smaller payment i.e. £200 pm. Which looks affordable on the surface.
But remember to own the car outright, you still have to pay the final payment, which for argument sake say is £8000. This amount is realistic for a small/medium size car in the UK as a final payment.
- That means that you have to save another £8000 in 3 years (36 months) to own the car outright. i.e. £222 pm.
- Therefore as a matter of fact you have to keep £422 a month to own the car outright in 3 years time.

This is an expensive and not a suitable way to buy a car. Provided you have good credit rating. Get a loan from a a bank to cover the full cost of the car minus the deposit of £3500 you have. For example if the car is worth £18000-£3500=£ 14,500 loan. It probably would cost you may be £100 extra in payment rather than £200 installments.
But another advantage of this approach is that the car is yours from the first day rather than owned by the finance company until you pay off the final payment of £8000, for which you probably would need another loan anyway.
Secondly it would save you plenty of money in interest too. The finance company charge higher rate. typical rates are 6.99% APR to 10.00% APR.

I gave a simple example of me buying a Land Rover 1.5 years ago.
I decided to get a loan of £30,000 from a bank at the rate of 2.5% over 3 years, which costed me around £1500 interest. The rest of £24,000 I paid cash. The car was mine from day one, with no restrictions on use and millage.

If I didn't get the loan, the equation would have been something like this, £14,000 advance, 36 monthly installments of £499.00=£17,964 and final payment of £28000 Total payable £59,964.00 including a interest element of close to £5000. Remember you pay interest on the final payment of £28000 too when you use PCP option.
I was able to pay my loan early in less than 1.5 years and now the car is mine 100% with no payment to make.
I only paid less than £800.00 in Interest by settling the loan early.

The other good option is to chose a car, where dealer is offering 0% finance, as long as the usage annual limit is not a problem. In that case you can try to save the money for final payment and own the car outright after 3 years.
If interest is involved, financing it through bank loan is far far better option, it would save you over £1500 in interest even for a smaller and cheaper car.



I had a new S class of 2017. I gave it up and gone for Land Rover. Yes, they are very nice cars, pleasure to drive, but very expensive to run and maintain.
It costs over £100,000 in the UK to own a new S class. Not everyone's cup of tea.

Paying Riba/Interest when you clearly have the option not to ...

I've not found S or even CL to be high maintenance. CL is petrol guzzler but if one can afford the petrol it's not expensive to maintain. Saying that I do most of the work on my cars.
 
. .
Whatttttttt
I save around that much every year i.e. 700k in seks despite all my spendings on travel and outdoor activities but I don't upgrade my car every year rather, my cycle is 5 years. I don't spend too much on the vehicle either. I always find a compromise between my budget and requirements. People in UK can spare a lot more since taxes are lower than Scandinavia. I think the Urdu phrase, "paon dek kar chaddar pelana" is true in my case. So always stay in the budget and no need for lease but I'm not against leasing.
 
.
for 30-50k pounds you can easily get a nice car in UK. You can easily save 50k or more in a year doing a normal job.

I am flaberghasted.

Half of the UK population are financially vulnerable with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator.

The Financial Conduct Authority’s biggest ever survey of households found that 4.1 million people are already in serious financial difficulty, falling behind with bills and credit card payments, with 25- to 34-year-olds the most over-indebted.
https://www.theguardian.com/money/2...financially-vulnerable-fca-interest-rate-rise

If only I can tell you how many people I help regularly to tie them up financially from time to time.
Huge amount of people end up with loan sharks because they run out of money at the end of the month.
 
.
I am flaberghasted.



If only I can tell you how many people I help regularly to tie them up financially from time to time.
Huge amount of people end up with loan sharks because they run out of money at the end of the month.
But my model has so far been to gather money before buying anything.. so I don't take credit and it keeps my life simple.
 
. .
You must be kidding bro,I have been working my *** off for 2 years and haven't even been able to save 25k and I hardly have a luxury lifestyle
An engineer or an entrepreneur should be able to do that... I think in few years you will be there. Just started so it makes sense.
 
. .
Back
Top Bottom