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themanupstairs
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13 hours ago, AyeDubbleYoo said:

 

Lush, the Ioniq 6 looks incredible too. God knows how anyone affords one, but fair play if you can. 

 

Cheers! I love the 5's style, really looking forward to it. Need the range where we live too.

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  • 4 weeks later...

Any end-of-contract advice? My car finance is ending this month, so I need to either buy it or return. 

 

Got a Mercedes A-Class. I have about £6000 equity because of how valuable used cars are. £12k to pay off and the car is worth somewhere around £18k.

 

1- To buy it I would probably have to take a personal loan for about £6k and get the rest out of savings. But in isolation £12k for this car is a bargain.

 

2- Take the £6k out and use it to lease or buy something different.

 

3- Even put it in an account and use it for one of those all-inclusive subscriptions like OnTo. Would pay for one year of a two-year deal at least, and probably no lump-sum outlay like a traditional finance deal.

 

I did want to go electric but the MG4 is probably the only affordable thing I have seen. 

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1 hour ago, AyeDubbleYoo said:

Any end-of-contract advice? My car finance is ending this month, so I need to either buy it or return. 

 

Got a Mercedes A-Class. I have about £6000 equity because of how valuable used cars are. £12k to pay off and the car is worth somewhere around £18k.

 

1- To buy it I would probably have to take a personal loan for about £6k and get the rest out of savings. But in isolation £12k for this car is a bargain.

 

2- Take the £6k out and use it to lease or buy something different.

 

3- Even put it in an account and use it for one of those all-inclusive subscriptions like OnTo. Would pay for one year of a two-year deal at least, and probably no lump-sum outlay like a traditional finance deal.

 

I did want to go electric but the MG4 is probably the only affordable thing I have seen. 

Dont buy a car at the minute on finance.  I'd stick with it if I was you.  

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6 minutes ago, AyeDubbleYoo said:


Why, high interest? 

I’ve been looking recently at PCP deals, there is no good ones from what I can find, I guess it’s largely down to the interest rate. I’ve decided against it and sticking with my current car for now 

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I would still need to finance some of the £12k to buy it though, albeit at a lower interest rate than car finance. 
 

Tempted to just use the equity to pay the majority of a two-year lease. 
 

Any deal I take needs to be finished before my mortgage deal runs out, in case I get a massive jump in mortgage payments then. 

 

 

Edited by AyeDubbleYoo

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Once you sell a car, aren't you meant to get a letter from the dlva to confirm change of ownership? Sent the documents off start of December and had nowt back.

 

Don't want nee fines for speeding etc 

 

 

Edited by astraguy

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I'm having no luck here in Cumbria, trying to find driving lessons with a view to quickly passing my test.

Can anyone recommend a good Intensive Driving School/course somewhere in the north of England, with availability?

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Was driving the other day and pulled up at the lights. When I let the clutch come up after coming to a stop the pedal didnt come all the way up. Then I wasnt able to get any gear and obviously no drive. Turned the engine off and on but still the same, so got out and pushed it up on the curb. Must have got back in a few minutes later, started it up then all was fine and has been fine since. 

 

Anyone have any ideas? 

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12 hours ago, Super Duper Branko Strupar said:

Was driving the other day and pulled up at the lights. When I let the clutch come up after coming to a stop the pedal didnt come all the way up. Then I wasnt able to get any gear and obviously no drive. Turned the engine off and on but still the same, so got out and pushed it up on the curb. Must have got back in a few minutes later, started it up then all was fine and has been fine since. 

 

Anyone have any ideas? 

Probably the cable.  Anyway, take it to a mechanic.

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On 13/01/2023 at 12:22, AyeDubbleYoo said:

Any end-of-contract advice? My car finance is ending this month, so I need to either buy it or return. 

 

Got a Mercedes A-Class. I have about £6000 equity because of how valuable used cars are. £12k to pay off and the car is worth somewhere around £18k.

 

1- To buy it I would probably have to take a personal loan for about £6k and get the rest out of savings. But in isolation £12k for this car is a bargain.

 

2- Take the £6k out and use it to lease or buy something different.

 

3- Even put it in an account and use it for one of those all-inclusive subscriptions like OnTo. Would pay for one year of a two-year deal at least, and probably no lump-sum outlay like a traditional finance deal.

 

I did want to go electric but the MG4 is probably the only affordable thing I have seen. 

You absolutely need to buy it. The price of the A class’ are going up.

When my PCP deal ends on my A class, it will cost me £13k to buy it, and it will be worth over £20k.

Check bank loans online, they seem to be giving out smaller APR deals than dealers at the minute.

 

Even Tesco’s rate is competitive, although if you finance it for the full £12k then you pay around about £400 less with the smaller APR rate. Maybe worth putting your savings in an account to use towards the monthly payments, and earning interest on it at the same time.

 

https://www.tescobank.com/loans/loan-calculator/

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https://www.drivetech.co.uk/intelligent-speed-assistance-what-you-need-to-know/

 

The word on the jungle drums within the industry is that car insurance company’s will be using this as a get out of jail card if you disable the system and are found to be breaking the law by speeding at the time of an accident.

 

Its also looking like company car drivers could be down dismissed if they are caught disabling the system and are involved in a accident.

 


 

 

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Few weeks off taking delivery of a polestar 2 vua company salsac scheme.

 

Timescales appear to be sorting themselves out, at least with polestar. Anything from the VW group was ridiculous and put me off a cupra formentor.

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3 hours ago, AyeDubbleYoo said:

I’m terrified of salary sacrifice for a car, the amount they take from your salary is eye-watering :lol:

 

Yeah it's scary [emoji38] I've just focused in on the effective monthly cost but I'd be lying if I said that first payslip isn't going to cause me serious stress!

 

Hopefully(?) I'll see some saving in diesel costs per month also. Just need to avoid public charging at all cost for that work 😂

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6 hours ago, AyeDubbleYoo said:

I’m terrified of salary sacrifice for a car, the amount they take from your salary is eye-watering :lol:

Got my first company car in April a Peugeot 508 diesel (not my choice) it does  75+ mpg , BIK is going to about £340 per month. Costs me £180 a month in fuel for private mileage. £520 all in. No service cost or tyre costs, No AA Costs. Currently doing 40k miles private. 

 

When I was running a private car to work and back it cost me £240 a month in fuel, £44 on insurance , £12 on Road tax, £250 a month to buy a car that can cope with the mileage every few years and was worth fuck all after 2-3 years. You starting chucking two sets of front tyres one set of rear tyres and 3 services a year and it was costing me way more than the company car will. 

 

Biggest down side is I have no car if anything happens to the job

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3 hours ago, NE27 said:

 

Yeah it's scary [emoji38] I've just focused in on the effective monthly cost but I'd be lying if I said that first payslip isn't going to cause me serious stress!

 

Hopefully(?) I'll see some saving in diesel costs per month also. Just need to avoid public charging at all cost for that work 😂

  https://comcar.co.uk/
 

made a few assumptions, pole star 2, top spec model, 50k a year salary.

 

looking at about £27 per month 

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5 minutes ago, Hudson said:

Company car tax calculator, input a few details and it works it all out for you


different to salary sacrifice though.

 

You’ve still got the lease cost to pay on SS, only your taxable pay is reduced by the lease cost making it income tax free. You pay. BiK on top as well.

 

under SS you can get an IX3 for around £1200 a month inc service, insurance, tyres etc and you see this as a gross pay reduction. When the tax saving is applied your net net pay is down around £700 if you are a higher rate payer.

 

so a decent saving, but you can get cheaper cars outside of SS, especially if you aren’t doing electric and get a high BiK %. Figures do look horrific on paper though..

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