Leasing or Buying? Please help the poor newbie
#1
Leasing or Buying? Please help the poor newbie - (Updated) Buying it was!
First off, hello to everyone - this is my first post after weeks of ‘snooping’ and I’ve finally decided to submit my first post. I must say from what I’ve seen so far, compared to other internet forums, everyone on here seems very friendly and helpful!
So here’s my dilemma – I’m approaching 30 (next Fri btw ) and therefore I’m getting to the age where insuring a Scooby is becoming (slightly) more affordable. I’ve decided after much research that I’m looking at getting an Impreza WRX. I’ve got about an 8k budget and as I see it, I have two options:-
1) Lease (private not business)
At approx £350 a month for 2 years I get a fully maintained, fully serviced and fully taxed shiny new one. This gives you piece of mind that if anything goes wrong (I know this is unlikely) then you’re covered, however you get no car at the end of it!
2) I buy second hand
To be honest the whole thought of this scares the hell out of me. I’ve no idea what is a good buy – Import/UK? Trade or Private? What if I get stitched up? What if the car dies after a week?
So does anyone on here currently lease? Or generally any advice on buying second hand - any good examples on eBay you can see. For imports I’ve been looking at www.japuk.co.uk anyone bought from here before?
Sorry I know you get hundreds of these types of requests a week from us newbie’s!
Cheers
Paul
So here’s my dilemma – I’m approaching 30 (next Fri btw ) and therefore I’m getting to the age where insuring a Scooby is becoming (slightly) more affordable. I’ve decided after much research that I’m looking at getting an Impreza WRX. I’ve got about an 8k budget and as I see it, I have two options:-
1) Lease (private not business)
At approx £350 a month for 2 years I get a fully maintained, fully serviced and fully taxed shiny new one. This gives you piece of mind that if anything goes wrong (I know this is unlikely) then you’re covered, however you get no car at the end of it!
2) I buy second hand
To be honest the whole thought of this scares the hell out of me. I’ve no idea what is a good buy – Import/UK? Trade or Private? What if I get stitched up? What if the car dies after a week?
So does anyone on here currently lease? Or generally any advice on buying second hand - any good examples on eBay you can see. For imports I’ve been looking at www.japuk.co.uk anyone bought from here before?
Sorry I know you get hundreds of these types of requests a week from us newbie’s!
Cheers
Paul
Last edited by spursfc; 02 April 2006 at 11:11 PM.
#2
as far as im concerned, i would always go new if i can afford it.
modifying it not really possible, well, not serious stuff anyway, but im not to bothered.
i think im right in saying though that theres an option to purchase at the end of it, and its not a top dollar price either. with 8k you could get a good one, but also a bad one, if you can afford the monthly payments, my choice would be on the lease.
thats my advice, but there are pro's n cons with every purchase, just take your time
john
modifying it not really possible, well, not serious stuff anyway, but im not to bothered.
i think im right in saying though that theres an option to purchase at the end of it, and its not a top dollar price either. with 8k you could get a good one, but also a bad one, if you can afford the monthly payments, my choice would be on the lease.
thats my advice, but there are pro's n cons with every purchase, just take your time
john
#5
"I'm buying one after leasing other vehicles, if you get a good warranty on a used car you get worry free motoring anyway."
Might seem a dumb question but can you get warranties that cover eveything i.e. tyres, servicing etc?
Might seem a dumb question but can you get warranties that cover eveything i.e. tyres, servicing etc?
#6
I'd really would like to buy a brand new one, but unfortuantely I think my marriage would be in trouble if I blew 20k on one. So my theory is, the only way I can get a new one is to lease for two years. This is where the £8k budget would go. The only downer is that at the end of the two years I would have to walk away empty handed, unless of course I bought it off them, but that would set me back another 14k according to Parkers.
Or, I can buy second hand now and run the risk of picking up something that will cause me no end of problems later on.
Dilemma!
Or, I can buy second hand now and run the risk of picking up something that will cause me no end of problems later on.
Dilemma!
#7
If you can afford to lease the new one, go with it. Leasing is only marginally more expensive IMO than buying new and selling at the same point with the heavy initial depreciation etc etc.
However, you may be better off all round buying a second hand classic. I prefer the look and feel of the 2000 turbo myself, and 8 grand would get you a nice, unmodded UK car with FSSH.
You can buy warranties, but really, if it's maintained well your exposure is pretty limited, as long as the turbo doesn't blow!
Guess what I am saying is it's personal choice! Do you prefer the smell and feel of a new car? Is it worth paying for? If having second hand will worry you with potential bills, that could be a good decider!
If you decide second hand, be prepared to put a lot of time and effort into finding a good one, and there is plenty to be learnt on here. For me, UK everytime, takes a lot of risk away, Full Subaru Service History only. HPI and RAC checks for several possible specimens. Not bought from a 19 year old with a Halfords loyalty card! Dealer, you pay more, get your extendable warranty, maybe finance I guess, private doesn't have to be hazardous though!
Good luck with the decision and on fourth place!!!!!!
However, you may be better off all round buying a second hand classic. I prefer the look and feel of the 2000 turbo myself, and 8 grand would get you a nice, unmodded UK car with FSSH.
You can buy warranties, but really, if it's maintained well your exposure is pretty limited, as long as the turbo doesn't blow!
Guess what I am saying is it's personal choice! Do you prefer the smell and feel of a new car? Is it worth paying for? If having second hand will worry you with potential bills, that could be a good decider!
If you decide second hand, be prepared to put a lot of time and effort into finding a good one, and there is plenty to be learnt on here. For me, UK everytime, takes a lot of risk away, Full Subaru Service History only. HPI and RAC checks for several possible specimens. Not bought from a 19 year old with a Halfords loyalty card! Dealer, you pay more, get your extendable warranty, maybe finance I guess, private doesn't have to be hazardous though!
Good luck with the decision and on fourth place!!!!!!
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#8
[QUOTE=spursfc
Might seem a dumb question but can you get warranties that cover eveything i.e. tyres, servicing etc?[/QUOTE]
You can add maintenance to the lease scheme that will cover all services plus all consumables (tyres, clutch, brakes etc etc).
For example, doing 20k miles per year fro 3 years on a new Scooby WRX with extras (total cost £21K) with full maintenance costs about £620 (inc VAT) per month. There would also be a 3 month up front payment.
Nick
Might seem a dumb question but can you get warranties that cover eveything i.e. tyres, servicing etc?[/QUOTE]
You can add maintenance to the lease scheme that will cover all services plus all consumables (tyres, clutch, brakes etc etc).
For example, doing 20k miles per year fro 3 years on a new Scooby WRX with extras (total cost £21K) with full maintenance costs about £620 (inc VAT) per month. There would also be a 3 month up front payment.
Nick
#9
Thanks to everyone who has replied. To be honest I am no nearer making my decision as to what to do as they both have pros and cons. I'll keep looking around.
2000TLondon - This is slightly off topic, but I have a gut feeling were going to finish 5th with the gooners beating us to 4th. That would be gutting!
Butty - I know you get all that with a lease, but can you buy a private warranty on a second hand car that covers all this? Hence my concern it might sound like a dumb *** question!
2000TLondon - This is slightly off topic, but I have a gut feeling were going to finish 5th with the gooners beating us to 4th. That would be gutting!
Butty - I know you get all that with a lease, but can you buy a private warranty on a second hand car that covers all this? Hence my concern it might sound like a dumb *** question!
#10
hi
yes, you can buy a warranty on a used car...
http://www.racwarranty.com/cars_mbi.htm
but, IMO, if you find a late classic at a dealers, that would be my option mate, be prepared to travel though
john
yes, you can buy a warranty on a used car...
http://www.racwarranty.com/cars_mbi.htm
but, IMO, if you find a late classic at a dealers, that would be my option mate, be prepared to travel though
john
#11
Cheers John. Sorry to sound like I need spoonfeeding, but could you pick something out on the classifieds here, around 8K, that you yourself would go and have a look at based on what you see in the ad. It would give me a benchmark that I could keep to. Would be eternally grateful.
#12
Any idea what these warranties cost ?
Originally Posted by EVOLUTION
hi
yes, you can buy a warranty on a used car...
http://www.racwarranty.com/cars_mbi.htm
but, IMO, if you find a late classic at a dealers, that would be my option mate, be prepared to travel though
john
yes, you can buy a warranty on a used car...
http://www.racwarranty.com/cars_mbi.htm
but, IMO, if you find a late classic at a dealers, that would be my option mate, be prepared to travel though
john
#13
Check out www.suabru.co.uk for approved used dealers.
http://www.subaru.co.uk/IMGGB/WWW/Su...2?Opendocument
Just a quick look there is a 99 Turbo (classic shape was the Turbo, pre WRX) with 70,000 miles for 8 grand
in fact there are several turbos from 47,000 miles upwards in your price range.
By going to a dealer, you will pay more, but the bodywork will (should) be tidied up and you will get a years warranty that can be extended, and they should have full Subaru Service History, which is VERY important IMO. I extended my Subaru warranty until it was seven years old when I sold it for about five hundred pounds a year.
Go out and talk to the dealers. Test drive the classic and the new WRX and let your preferences help you. There is more of a difference than just the body. Talk to them about servicing and running costs and whatnot. You should see at least half a dozen before you start to get serious, at which point you will start to know what you are looking for! Obviously avoid smokey exhausts!!!
Have just noticed there is an Imprezas Buyers Guide available to buy on Amazon, although I haven't read it.
http://www.subaru.co.uk/IMGGB/WWW/Su...2?Opendocument
Just a quick look there is a 99 Turbo (classic shape was the Turbo, pre WRX) with 70,000 miles for 8 grand
in fact there are several turbos from 47,000 miles upwards in your price range.
By going to a dealer, you will pay more, but the bodywork will (should) be tidied up and you will get a years warranty that can be extended, and they should have full Subaru Service History, which is VERY important IMO. I extended my Subaru warranty until it was seven years old when I sold it for about five hundred pounds a year.
Go out and talk to the dealers. Test drive the classic and the new WRX and let your preferences help you. There is more of a difference than just the body. Talk to them about servicing and running costs and whatnot. You should see at least half a dozen before you start to get serious, at which point you will start to know what you are looking for! Obviously avoid smokey exhausts!!!
Have just noticed there is an Imprezas Buyers Guide available to buy on Amazon, although I haven't read it.
Last edited by 2000TLondon; 23 March 2006 at 09:39 PM.
#14
Originally Posted by nik52wrx
Any idea what these warranties cost ?
Warranties for the wearables will be a lot less, i'd be thinking around a hundred pounds a year give or take.......
#15
1st post on here to so here goes
i lease my scoob have done for last two years i took it on over 3 years and it has never put a foot wrong(kiss of death that line) all the bills are taken care of a good point, but nothing has gone wrong so the pay very little as to not owning one bite the bullet and you get a shiny new one every couple of years already planning my next one but a full year to wait ,good luck whatever you choose
i lease my scoob have done for last two years i took it on over 3 years and it has never put a foot wrong(kiss of death that line) all the bills are taken care of a good point, but nothing has gone wrong so the pay very little as to not owning one bite the bullet and you get a shiny new one every couple of years already planning my next one but a full year to wait ,good luck whatever you choose
#16
I've leased three Imprezas now, never had any probs. None of them have remained standard for very long, and got a bit carried away with the last one (got it to 349/347 )
I saw this yesterday and thought it was a srunning deal....
http://www.fastroadandtrack.co.uk/fr....php?adid=3712
I saw this yesterday and thought it was a srunning deal....
http://www.fastroadandtrack.co.uk/fr....php?adid=3712
#18
Thanks for the note goodwood scooby. Can I ask if you went for the fully maintained option or not? If not, what things outside of the main warranty have you had to pay for?
Also, to anyone who knows - how many miles is it before the first service is due?
Cheers again.
Also, to anyone who knows - how many miles is it before the first service is due?
Cheers again.
#20
Hi
You could lease a used one from a main dealer say valued at 12k and then when you have the option to buy after 2 years you are only looking at say 6k which again you could split over two years on a loan.
Burt
You could lease a used one from a main dealer say valued at 12k and then when you have the option to buy after 2 years you are only looking at say 6k which again you could split over two years on a loan.
Burt
#21
Hi spurfc,
I am selling my x reg UK classic for £7995 at the moment if you are interested. The following link gives its details:
http://bbs.scoobynet.co.uk/showthread.php?t=500315
It was registered on the 21 December so it is a late x reg and has just over 47k on the clock. I have had it a year and the only reason I am selling is due to a house move and doubling my mortgage. It has all but 2 services done by Subaru and the others were carried out by a specialist.
It also has air conditioning which was an option on new cars.
Most importantly for you it has almost 12 month warranty remaining as I purchased a 2 year warranty as I genuinly thought I would be keeping it longer than this.
In all the time I have owned it nothing has gone wrong with it, except a drill bit in one of the tyres which was not the cars fault!!!!
I have recently replaced all four tyres and the car has 6 month old brake pads.
Also as you have little experience with Subaru's you would definitely be better off with a UK car - You neednt worry about fueling issues and if the last owner put the correct fuel and octane booster in it.
let me know if you are interested.
Cheers
Stuart
I am selling my x reg UK classic for £7995 at the moment if you are interested. The following link gives its details:
http://bbs.scoobynet.co.uk/showthread.php?t=500315
It was registered on the 21 December so it is a late x reg and has just over 47k on the clock. I have had it a year and the only reason I am selling is due to a house move and doubling my mortgage. It has all but 2 services done by Subaru and the others were carried out by a specialist.
It also has air conditioning which was an option on new cars.
Most importantly for you it has almost 12 month warranty remaining as I purchased a 2 year warranty as I genuinly thought I would be keeping it longer than this.
In all the time I have owned it nothing has gone wrong with it, except a drill bit in one of the tyres which was not the cars fault!!!!
I have recently replaced all four tyres and the car has 6 month old brake pads.
Also as you have little experience with Subaru's you would definitely be better off with a UK car - You neednt worry about fueling issues and if the last owner put the correct fuel and octane booster in it.
let me know if you are interested.
Cheers
Stuart
#24
Originally Posted by ScooBStu
Hi spurfc,
I am selling my x reg UK classic for £7995 at the moment if you are interested. The following link gives its details:
http://bbs.scoobynet.co.uk/showthread.php?t=500315
It was registered on the 21 December so it is a late x reg and has just over 47k on the clock. I have had it a year and the only reason I am selling is due to a house move and doubling my mortgage. It has all but 2 services done by Subaru and the others were carried out by a specialist.
It also has air conditioning which was an option on new cars.
Most importantly for you it has almost 12 month warranty remaining as I purchased a 2 year warranty as I genuinly thought I would be keeping it longer than this.
In all the time I have owned it nothing has gone wrong with it, except a drill bit in one of the tyres which was not the cars fault!!!!
I have recently replaced all four tyres and the car has 6 month old brake pads.
Also as you have little experience with Subaru's you would definitely be better off with a UK car - You neednt worry about fueling issues and if the last owner put the correct fuel and octane booster in it.
let me know if you are interested.
Cheers
Stuart
I am selling my x reg UK classic for £7995 at the moment if you are interested. The following link gives its details:
http://bbs.scoobynet.co.uk/showthread.php?t=500315
It was registered on the 21 December so it is a late x reg and has just over 47k on the clock. I have had it a year and the only reason I am selling is due to a house move and doubling my mortgage. It has all but 2 services done by Subaru and the others were carried out by a specialist.
It also has air conditioning which was an option on new cars.
Most importantly for you it has almost 12 month warranty remaining as I purchased a 2 year warranty as I genuinly thought I would be keeping it longer than this.
In all the time I have owned it nothing has gone wrong with it, except a drill bit in one of the tyres which was not the cars fault!!!!
I have recently replaced all four tyres and the car has 6 month old brake pads.
Also as you have little experience with Subaru's you would definitely be better off with a UK car - You neednt worry about fueling issues and if the last owner put the correct fuel and octane booster in it.
let me know if you are interested.
Cheers
Stuart
looks to me like you couldnt go wrong with this one mae, a totaly claen standard example, few and far between these days
wouldnt worry about questions mate, alot asked now may well lead to less posting in the tech section about "sh**, engine has just let go"
better to ask than be sorry. As for the warrantys, didnt have a close look on the RAC site, so if it doesnt tell you there, you will probably have to call for a quote. I know there more for turbo'd cars than N/A's. I looked at putting one on my FTO to help it sell and it was going to be about £350 for a 2000 V FTO, i also know there are age limits but i think its 10yrs old or more that the RAC wont cover
john
#25
An alternative is to consider new EU import on PCP costs 3 year PCP WRX 4dr £2,000 deposit & 36 payments of £216 & GFV £8,000
Originally Posted by spursfc
First off, hello to everyone - this is my first post after weeks of ‘snooping’ and I’ve finally decided to submit my first post. I must say from what I’ve seen so far, compared to other internet forums, everyone on here seems very friendly and helpful!
So here’s my dilemma – I’m approaching 30 (next Fri btw ) and therefore I’m getting to the age where insuring a Scooby is becoming (slightly) more affordable. I’ve decided after much research that I’m looking at getting an Impreza WRX. I’ve got about an 8k budget and as I see it, I have two options:-
1) Lease (private not business)
At approx £350 a month for 2 years I get a fully maintained, fully serviced and fully taxed shiny new one. This gives you piece of mind that if anything goes wrong (I know this is unlikely) then you’re covered, however you get no car at the end of it!
2) I buy second hand
To be honest the whole thought of this scares the hell out of me. I’ve no idea what is a good buy – Import/UK? Trade or Private? What if I get stitched up? What if the car dies after a week?
So does anyone on here currently lease? Or generally any advice on buying second hand - any good examples on eBay you can see. For imports I’ve been looking at www.japuk.co.uk anyone bought from here before?
Sorry I know you get hundreds of these types of requests a week from us newbie’s!
Cheers
Paul
So here’s my dilemma – I’m approaching 30 (next Fri btw ) and therefore I’m getting to the age where insuring a Scooby is becoming (slightly) more affordable. I’ve decided after much research that I’m looking at getting an Impreza WRX. I’ve got about an 8k budget and as I see it, I have two options:-
1) Lease (private not business)
At approx £350 a month for 2 years I get a fully maintained, fully serviced and fully taxed shiny new one. This gives you piece of mind that if anything goes wrong (I know this is unlikely) then you’re covered, however you get no car at the end of it!
2) I buy second hand
To be honest the whole thought of this scares the hell out of me. I’ve no idea what is a good buy – Import/UK? Trade or Private? What if I get stitched up? What if the car dies after a week?
So does anyone on here currently lease? Or generally any advice on buying second hand - any good examples on eBay you can see. For imports I’ve been looking at www.japuk.co.uk anyone bought from here before?
Sorry I know you get hundreds of these types of requests a week from us newbie’s!
Cheers
Paul
#26
Thanks you two!! You've now made life a lot harder and given me something else to consider!
Those imports are a bargain. Is there a catch??
I've never heard of PCP before - makes you feel like you're not throwing your money away as much as you do pure leasing. Like the idea you can buy the car for a bargain at the end.
BTW Got some quotes today on a WRX private lease with maintenance -
average cost £450! per month
Cheers
Paul
Those imports are a bargain. Is there a catch??
I've never heard of PCP before - makes you feel like you're not throwing your money away as much as you do pure leasing. Like the idea you can buy the car for a bargain at the end.
BTW Got some quotes today on a WRX private lease with maintenance -
average cost £450! per month
Cheers
Paul
Last edited by spursfc; 24 March 2006 at 08:29 PM.
#30
So after many late nights researching on the web, numerous arguments with the wife, hassling sellers who always turn out to live 400 miles away, and seeing my budget go from 5k to 11k within a few weeks......
I am now a very proud owner of a mint MY02 WRX bugeye and I am absolutely made up.
But I’ve got to wait a week for delivery
Roll on the unwanted attention from hoodies, being stopped by the cops, aggressive white van man and those large fuel bills HOWEVER that will all be forgotten when I deactivate that immobilizer, turn that key, press down that accelerator and listen to her sing to me
I am now a very proud owner of a mint MY02 WRX bugeye and I am absolutely made up.
But I’ve got to wait a week for delivery
Roll on the unwanted attention from hoodies, being stopped by the cops, aggressive white van man and those large fuel bills HOWEVER that will all be forgotten when I deactivate that immobilizer, turn that key, press down that accelerator and listen to her sing to me