Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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Go in say your from the Internet and they knock 50% off apparently.
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Ben G
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Registered: 12th Jan 07
Location: Essex
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thats only if you have dodgy bowels mate.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
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Its a lot of money to pay for 'trouble free' motoring, I've been driving 8 years now, all second hand cars from R Reg Corsas to 57 plate BMWs and not really had to pay out for anything 
I'm not saying engines don't blow up or gearboxes don't fail, it's just not as common as the internet makes you think (unless you buy a diesel Astra  )
I'd personally go 12-24 months old and save some cash.
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dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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quote:
Originally posted by A2H GO
Its a lot of money to pay for 'trouble free' motoring, I've been driving 8 years now, all second hand cars from R Reg Corsas to 57 plate BMWs and not really had to pay out for anything
I'm not saying engines don't blow up or gearboxes don't fail, it's just not as common as the internet makes you think (unless you buy a diesel Astra )
I'd personally go 12-24 months old and save some cash.
This is also my viewpoint, but then I don't think a single person in my entire family history has ever had a proper brand new car, only my uncle who has a company car and my aunt has a Touareg on PCP through her salon, I think because it's more tax efficient...
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Pete_vxl
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Registered: 24th Nov 06
Location: Lochgelly, Fife
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Being the first person to ever fart on the drivers seat is a special moment though. Easily worth the money.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
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quote:
Originally posted by A2H GO
I'd personally go 12-24 months old and save some cash.
That's what makes this Vaux deal so good. You're unlikely to get interest free with no deposit on a used car, so the money you're saving through the 12-24months depreciation you'll eat into significantly due to interest on your used car finance.
It goes without saying that if you had £15k cash you'd be better off with a used 12-24month car of a higher spec than you would strolling into Vauxhall and buying a brand new Corsa - but in terms of finance you're currently better off with the brand new Corsa!
That's the way I see it anyway.
Lotus Elise 111R
Impreza WRX STi
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Yeah I guess you would have to do some maths over 5 years (too long imo but for arguments sake):
Option 1: £15k on a new Corsa interest free (£250pm total of £15k paid)
or
Option 2: £10k (they are actually less than £9k on AutoTrader) on a 12 month old Corsa with interest (£200pm total of £12k paid)
Then at the end of the 5 years with the second option the car will be a year older so say its worth £1k less, will still mean you've saved £2k.
Doing the second option over 3 years and paying the same each month as the first option along with picking up a £9k one will save you closer to £3.5k.
[Edited on 09-08-2012 by A2H GO]
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taylorboosh
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Registered: 3rd Apr 07
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If I was you mate I would take the plundge I have just bought the exact same car your on about but a second hand one and I don't regret it looks the part and is a great car I understand what your saying but if you like corsas in anyway you won't be disappointed these are a great cars. Join the corsa D club mate u won't regret it.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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WTF some terrible, terrible advice in this thread.
Mathematically if its 0%, take as long as they'll allow you to pay it off.
Paying it off sooner just means you're investing the money in a depreciating asset. If you don't give them the money but instead keep it yourself, you can use it to offset other debts (mortgage?) or if its just sitting in a bank you'll earn interest - admittedly very little.
Quite why you'd look in to a PCP deal if it also wasn't 0% I'm not at all sure. Paying interest in order to make it look better on paper does seem rather silly, unless there's a discount on the car. In which case you'll probably end up paying the same anyway. Discounted car and interest or book price car on 0%. No deal is every really that different to another and above all, the car depreciates at exactly the same rate regardless of which forms you fill in.
BTW, 60 x £200 is £12k not £13k. Are you putting a grand down?
Also if you can't afford £200 but can afford £170, what happens if you leave the £2k in there? Can you afford it then? (Hint: yes - see above).
Above all - if you're worried about depreciation, don't buy a new car and certainly don't buy a Vauxhall. If you want to be the first to fart on the seat, lose grands. I've had new cars and it is great, but I've also thrown money away doing it. It'll be 5 grand in 18 months and you'll still owe over 8.
PS. that doesn't mean you should pay it off faster.
PPS. they are nice though.
[Edited on 10-08-2012 by Ian]
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SXI - Matt
Member
Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
User status: Offline
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quote:
Originally posted by Ian
WTF some terrible, terrible advice in this thread.
Mathematically if its 0%, take as long as they'll allow you to pay it off.
Paying it off sooner just means you're investing the money in a depreciating asset. If you don't give them the money but instead keep it yourself, you can use it to offset other debts (mortgage?) or if its just sitting in a bank you'll earn interest - admittedly very little.
Quite why you'd look in to a PCP deal if it also wasn't 0% I'm not at all sure. Paying interest in order to make it look better on paper does seem rather silly, unless there's a discount on the car. In which case you'll probably end up paying the same anyway. Discounted car and interest or book price car on 0%. No deal is every really that different to another and above all, the car depreciates at exactly the same rate regardless of which forms you fill in.
BTW, 60 x £200 is £12k not £13k. Are you putting a grand down?
Also if you can't afford £200 but can afford £170, what happens if you leave the £2k in there? Can you afford it then? (Hint: yes - see above).
Above all - if you're worried about depreciation, don't buy a new car and certainly don't buy a Vauxhall. If you want to be the first to fart on the seat, lose grands. I've had new cars and it is great, but I've also thrown money away doing it. It'll be 5 grand in 18 months and you'll still owe over 8.
PS. that doesn't mean you should pay it off faster.
PPS. they are nice though.
[Edited on 10-08-2012 by Ian]
This was my thinking on doing it over 5 years. There's the option to do it over 2,3,4 or 5 by while it's 0% why do it sooner, and I can afford the £200 just £170 sounded better and when I sell my current car I'd have a few thousand to play with. But defeats the object I know of making the most of £0 deposit and 0% finance
As much as the depreciation does bother me, I know in my situation it's a no brainier, e.g as of next month I'll have a house to run and pay for so wont be able to save up any time soon a decent about for a 2nd hand car. Plus getting a loan for say £7k on the same term will cost me the same (near enough any way)
[Edited on 10-08-2012 by SXI - Matt]
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dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Have you got mortgage sorted for the house because they will want to know of your new finance contract to take into account their offer with you. If mortgage already signed I dont think it matters?
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SXI - Matt
Member
Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
User status: Offline
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Mortagage offer is all In and signed, but the house being far more important then the car I'm waiting till we are moved in and David Wilson have the full amount before going any further. Don't want to risk our offer being effect by the new finance contract as you say
[Edited on 10-08-2012 by SXI - Matt]
[Edited on 10-08-2012 by SXI - Matt]
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Colin
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Registered: 4th Apr 02
User status: Offline
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You'll need to keep the car the term to make it worthwhile.
My sister got one off them, it was just a 1l corsa s very basic but she doesnt give a fuck about cars at all. Her last car she had for 9 years and plans to keep this one a similar term, with the lifetime warranty and what not it was the best deal she could get. Think she stuck Dow. A grand (px) and then 140 a month or something.
If your buying a house and money's going to be tighter then what's better than fixed price motoring.
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John
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Registered: 30th Jun 03
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Get a diesel version.
Cost the gf under 3k to have a brand new corsa for 3 years when she traded it in.
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SXI - Matt
Member
Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
User status: Offline
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I did look at the 1.3 version, infact some of you might no the best way of working it out. 1.3 diesel costs £1500 more to buy tax is only £30 a year suppose to £100 on the petrol equivalent, petrol averages 51mpg diesel averages 65mpg my daily commute is only 15 miles each way and I'll do about 12000 miles a year tops. Sales did say would I benefit from the diesel and you need to work out how long it takes after paying more till you benefit over the diesel, so anyone kind enough to stick a quick equation up?
Also though he did mention the diesel had a DPF and would I be doing enough long runs to prevent the car from basically breaking down due to it clogging. Worded in a way that meant it would be my fault if it did due to the nature of driving, aspose to the fact there shit and break
[Edited on 10-08-2012 by SXI - Matt]
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StuartVRS
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Registered: 9th Feb 03
Location: Bromley Common, Greater London
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The 1.2 petrols can be had for 11k new now at certain garages so shop around. Cracking little car, but it was too little for us so we got rid. If you go down the route of a second hand you can purchase an extended warranty which pretty much takes it back to full warranty. We paid just under 9k for a 800 mile 1.2 limited edition (61 plate) with what worked out to a 6 year warranty (3 year network q warranty, 3 year extended). Sold it 6 months later with 4k for £1 less than we paid for it. Id still be tempted to go new though, we didnt as we were cash buyers so had no need for 0% etc.
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StuartVRS
Member
Registered: 9th Feb 03
Location: Bromley Common, Greater London
User status: Offline
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quote:
Originally posted by SXI - Matt
I did look at the 1.3 version, infact some of you might no the best way of working it out. 1.3 diesel costs £1500 more to buy tax is only £30 a year suppose to £100 on the petrol equivalent, petrol averages 51mpg diesel averages 65mpg my daily commute is only 15 miles each way and I'll do about 12000 miles a year tops. Sales did say would I benefit from the diesel and you need to work out how long it takes after paying more till you benefit over the diesel, so anyone kind enough to stick a quick equation up?
Also though he did mention the diesel had a DPF and would I be doing enough long runs to prevent the car fr basically breaking down due to it clogging. Worded in a way that meant it would be my fault if it did due to the nature of driving, aspose to the fact there shot and break
We did exactly the same miles daily commute and never saw over 40mpg in the petrol. Town driving and the fact you have to push the go pedal harder to get anywhere due to the lack of power means fuel economy was poor. We are getting better fuel economy from our 1.8 insignia!
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John
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Registered: 30th Jun 03
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You have to take into account resale value, the diesel will be worth more.
Does the 1.3 have a dpf? If a 2009 one has a dpf we seen no issues from it doing 10 miles a day.
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whitter45
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Registered: 15th Nov 02
Location: Norton
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quote:
Originally posted by Jambo
Go in say your from the Internet and they knock 50% off apparently.
TBF I got the CORSA VXR for 13850 OTR - Have the invoice to prove if anyone wants to question it
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SXI - Matt
Member
Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
User status: Offline
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Oh that's useful to know thought 50mpg was a bit high, John what MPG do you realistically get from your diesel? Yeah apprarently so according to the sales guy any way. Going to test drive the 1.2 might be worth switching to the 1.3, as you say resale and £30 tax a year sounds very nice 
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whitter45
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Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by SXI - Matt
Oh that's useful to know thought 50mpg was a bit high, John what MPG do you realistically get from your diesel? Yeah apprarently so according to the sales guy any way. Going to test drive the 1.2 might be worth switching to the 1.3, as you say resale and £30 tax a year sounds very nice
may have missed this but how much more expensive is the derv
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Ben G
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Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by SXI - Matt
Oh that's useful to know thought 50mpg was a bit high, John what MPG do you realistically get from your diesel? Yeah apprarently so according to the sales guy any way. Going to test drive the 1.2 might be worth switching to the 1.3, as you say resale and £30 tax a year sounds very nice
if the petrol 1.2 is anything like our fiesta, you'll get upto 40mpg around town and 50mpg on long motorway runs sitting at 65mph.
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SXI - Matt
Member
Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
User status: Offline
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quote:
Originally posted by whitter45
quote:
Originally posted by SXI - Matt
Oh that's useful to know thought 50mpg was a bit high, John what MPG do you realistically get from your diesel? Yeah apprarently so according to the sales guy any way. Going to test drive the 1.2 might be worth switching to the 1.3, as you say resale and £30 tax a year sounds very nice
may have missed this but how much more expensive is the derv
£1500
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Is the diesel at £30 a month more going to save you much?
It would have cost me £60 more a month to get a 318d instead of my 318i and doing 10k a year I didn't see the value. Although I'll be more than likely handing the car back in 4yrs so resale doesn't matter in this case.
[Edited on 10-08-2012 by Colin]
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