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post #1 of 21 (permalink) Old Mar 6th, 2018, 10:41 AM Thread Starter
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A middle aged new driver and about to get a Mini

Hi all,

I'm in my 40's and just passed my driving test (first time!). It was getting embarrassing not driving at my age so I just did a crash course and got my license.

I've been advised over and over to lease a new car, don't buy and don't do PCP/PCH. This way I can get a new car and if it's not for me, hand it back after 3 yrs (or whatever the length is).

When I first looked, Clubmans were very reasonable but now Countryman's have the better deals. There is a Countryman 2.0 Cooper S Chili pack available at a good 3 year deal.

I am always pulled towards my local Mini dealership who offer PCP - but it's a lot more expensive. I have a test drive of a Countryman coming up and they promise they'll have good deals soon. But they are never as good as the leasing company's - and the leasing company has more spec'd up models available.

As a first car - is getting a Mini on lease better for me?

Any advice welcome!

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post #2 of 21 (permalink) Old Mar 6th, 2018, 02:41 PM
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https://www.carwow.co.uk/guides/fina...r-buy-your-car

Check out this article it's quite good

If you often drive in the country I would be worried about end of lease charges (they check the condition when you hand it in). But if you stick to town/motorways it is unlikely to get banged up enough to warrant any penalties


2002 Mini Cooper R50, purchased Nov 2016
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post #3 of 21 (permalink) Old Mar 6th, 2018, 06:12 PM
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Originally Posted by MiniSoph View Post
Hi all,

I'm in my 40's and just passed my driving test (first time!). It was getting embarrassing not driving at my age so I just did a crash course and got my license.

I've been advised over and over to lease a new car, don't buy and don't do PCP/PCH. This way I can get a new car and if it's not for me, hand it back after 3 yrs (or whatever the length is).

When I first looked, Clubmans were very reasonable but now Countryman's have the better deals. There is a Countryman 2.0 Cooper S Chili pack available at a good 3 year deal.

I am always pulled towards my local Mini dealership who offer PCP - but it's a lot more expensive. I have a test drive of a Countryman coming up and they promise they'll have good deals soon. But they are never as good as the leasing company's - and the leasing company has more spec'd up models available.

As a first car - is getting a Mini on lease better for me?

Any advice welcome!
i've done it both ways bought new on hp owned the car after 5 years at least i had something to show for all them monthly payments at the end, another time i leased a car from new over 3 years then after 3 years hand it back had nothing to show for all those payments and a bill for excess mileage and any stone chips etc,,, the 3rd way works the best buy car out right from bank loan or bank transfer buy ex demo let someone else lose all that tax and depreciation and hammer the dealer for a better price and extended warranty etc.
just dont like that feeling leaving a car behind after paying out so much money over 3 years as its all gone on a hire agreement

Albert Einstein: The definition of insanity is doing the same thing over and over and expecting different results.
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post #4 of 21 (permalink) Old Mar 6th, 2018, 06:36 PM
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IMO nothing to show for monthly payments doesn't make a difference I mean if you pay 20k over 3 years then sell the car for 10k that's no different to paying 10k over the 3 years and then handing it back

It's not like rent vs mortgage on a house as a new car is a depreciating asset
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post #5 of 21 (permalink) Old Mar 6th, 2018, 06:46 PM
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Originally Posted by Jackdaniel View Post
IMO nothing to show for monthly payments doesn't make a difference I mean if you pay 20k over 3 years then sell the car for 10k that's no different to paying 10k over the 3 years and then handing it back

It's not like rent vs mortgage on a house as a new car is a depreciating asset


In agreement with you Jack. If you like changing your cars and want low monthly payments for a nice new car itís not a bad way to do things. Depends totally on what you want. Some people like having a shiny brand new car, no MOT to worry about, service plan sorted, manufacturers warranty. Itís easy motoring and a lower outgoing than a HP or loan and you can chop and change your car every 3 years without much worry.



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post #6 of 21 (permalink) Old Mar 6th, 2018, 10:04 PM
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I'd never take a car on PCP or lease or whatever it's called. It's false economy in my book. All my cars have either been bought outright or with a bank load with the exception of my wife's car which I took finance on over 4 years and June it will be paid off and I will own that.

For a first car I'd get a runabout. You can pick up a decent R50 Cooper now for just over a grand or take out a bank loan and spend £2000-£3000 and get a newer Cooper but avoid the second generation unless its a diesel
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post #7 of 21 (permalink) Old Mar 7th, 2018, 12:15 PM Thread Starter
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The reason I don't want to buy outright is because I am just assuming I'd love a Mini (and am sure this will prove true!) but what if I buy my first ever car as a brand new driver and it turns out I hate SUVs or love VWs or don't get on with something or other. So I thought that for this first instance, leasing would be better. I keep hearing 'wouldn't you love having a brand new car every 3 years?' etc.

I am now at the point of agreeing to a lease deal. It about £250 p/m and £2.3K deposit for 3 yrs. Comes with manufacturer warranty and includes maintenance.

It's a Countryman 2017 2.0 Sport Manual with Chili Pack & privacy glass.

So confused.
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post #8 of 21 (permalink) Old Mar 7th, 2018, 04:12 PM
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So about £11,000 over 3 years, still a commitment. If you bought it (outright or with a loan) and did not like it at all after say 6 months to a year you could recover quite a bit of that instead of having to live with a car you dislike for another 2 years.

That said assuming you do end up liking the car, that is a good price IMO especially with service thrown in. Does the service package includes consumable parts tyres, brakes etc, they often do with lease deals?

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post #9 of 21 (permalink) Old Mar 7th, 2018, 07:13 PM
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Leasing is an expensive way to go and it's just something I'd never consider. The 2.3k deposit along would get you a very tidy Cooper and if you decide that you didn't like it then you can easily sell it on without loosing too much money. Plus if you lease the car you will never ever own it, good if you have debt collectors chasing you as they can't touch it but bad in terms of personal investment
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post #10 of 21 (permalink) Old Mar 7th, 2018, 07:55 PM
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The 2.3k deposit along would get you a very tidy Cooper
I know someone who financed a Bentley the deposit was £50k was thinking what are you doing there are so many great cars he could have just owned outright for that non refundable deposit


Kidding aside I think the point is a 2.3k used Cooper will cost a lot over the 3 years true nowhere near £250 a month but mine costs about 150 a month including service maintenance. For a lot of people the extra 100 a month is a good deal to have a new car


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post #11 of 21 (permalink) Old Mar 7th, 2018, 08:51 PM
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I know someone who financed a Bentley the deposit was £50k was thinking what are you doing there are so many great cars he could have just owned outright for that non refundable deposit


Kidding aside I think the point is a 2.3k used Cooper will cost a lot over the 3 years true nowhere near £250 a month but mine costs about 150 a month including service maintenance. For a lot of people the extra 100 a month is a good deal to have a new car
My coming up 10 year old Cooper D Clubman has had £3734.28 spent on maintenance since the day it was new. I've owned the car for 2 1/2 years and in that time I've spent £920.14

My wife's Cooper D Clubman's maintenance bill in the last 4 years is £1166.87 and my R50 over the last 4 years has had £1789.56 spent on it.

Anyone who knows me will tell you how anal I am when it comes to maintenance and I keep a spreadsheet of every single item I replace, even if it's a bulb so breaking it down the average yearly maintenance figures are as follows:

Wife's Cooper D £291.72
My Cooper D £368.05
My R50 £ 368.05

And the beauty is I own 2 out of the 3 cars outright. The wife's car is fully paid off in 4 months time so that will be me £213 better off each month and only have regular servicing and repairs to do!
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post #12 of 21 (permalink) Old Mar 7th, 2018, 09:05 PM
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Originally Posted by SeanC View Post
My coming up 10 year old Cooper D Clubman has had £3734.28 spent on maintenance since the day it was new. I've owned the car for 2 1/2 years and in that time I've spent £920.14

My wife's Cooper D Clubman's maintenance bill in the last 4 years is £1166.87 and my R50 over the last 4 years has had £1789.56 spent on it.

Anyone who knows me will tell you how anal I am when it comes to maintenance and I keep a spreadsheet of every single item I replace, even if it's a bulb so breaking it down the average yearly maintenance figures are as follows:

Wife's Cooper D £291.72
My Cooper D £368.05
My R50 £ 368.05

And the beauty is I own 2 out of the 3 cars outright. The wife's car is fully paid off in 4 months time so that will be me £213 better off each month and only have regular servicing and repairs to do!
That is good when you have the ability to do it yourself but guessing most people who lease are executives or whatever who have no idea to even check the oil levels

Would be interesting though, (maybe even useful for resale) if you added your time spent to each row on your spreadsheet at say £50 an hour!!

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post #13 of 21 (permalink) Old Mar 7th, 2018, 09:05 PM
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Originally Posted by MiniSoph View Post
The reason I don't want to buy outright is because I am just assuming I'd love a Mini (and am sure this will prove true!) but what if I buy my first ever car as a brand new driver and it turns out I hate SUVs or love VWs or don't get on with something or other. So I thought that for this first instance, leasing would be better. I keep hearing 'wouldn't you love having a brand new car every 3 years?' etc.

I am now at the point of agreeing to a lease deal. It about £250 p/m and £2.3K deposit for 3 yrs. Comes with manufacturer warranty and includes maintenance.

It's a Countryman 2017 2.0 Sport Manual with Chili Pack & privacy glass.

So confused.
If you decide you don't like it you're stuck with it in a lease for the term costing you £££'s still with no car at the end. If you buy one you can sell it on a whim. Even if on finance.

Really the way I would advise, is work out the total cost of the lease or PCP, say £11.3k right, with no car at the end (ouch), if you have that money in the bank, go and find a car you like that isn't quite new, and buy it. If you kept it a year you may not have lost £5.3k which is the cost of your first year in a lease. Yes? If you get a very low finance agreement, would you get a car you like for the same monthly payment? (I don't know) Is the lease covering maintenance? I suspect not.

So, buy the car, sell it when you want, use the deposit you'd have paid, and put it in a savings account, and save an additional £100 pcm for maintenance. Don't touch it, but use it for any unexpected costs. There won't be many if you buy a recent car I guess. What you have left at the end if anything (save more if you can) is yours at the end to start again, and you can use the car as a deposit, adding to it if you want right?

You'll like the car, because people do haha, at the end you'll have a car. In either case you may have dents and dings, but the car if yours, won't require you to make them good or penalise you. You'll never have a mileage penalty, and you'll never worry about those things so much when it's yours. You will feel sad if it gets bumped though, but it's unconditional. Own it and love it, look after your investment which you'd possibly not if leased. The view tends to be, oh well it's not mine, let them deal with it for some people.

Just my2p ok ;O)
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post #14 of 21 (permalink) Old Mar 8th, 2018, 06:39 PM
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If you decide you don't like it you're stuck with it in a lease for the term costing you £££'s still with no car at the end. If you buy one you can sell it on a whim. Even if on finance.

Really the way I would advise, is work out the total cost of the lease or PCP, say £11.3k right, with no car at the end (ouch), if you have that money in the bank, go and find a car you like that isn't quite new, and buy it. If you kept it a year you may not have lost £5.3k which is the cost of your first year in a lease. Yes? If you get a very low finance agreement, would you get a car you like for the same monthly payment? (I don't know) Is the lease covering maintenance? I suspect not.

So, buy the car, sell it when you want, use the deposit you'd have paid, and put it in a savings account, and save an additional £100 pcm for maintenance. Don't touch it, but use it for any unexpected costs. There won't be many if you buy a recent car I guess. What you have left at the end if anything (save more if you can) is yours at the end to start again, and you can use the car as a deposit, adding to it if you want right?

You'll like the car, because people do haha, at the end you'll have a car. In either case you may have dents and dings, but the car if yours, won't require you to make them good or penalise you. You'll never have a mileage penalty, and you'll never worry about those things so much when it's yours. You will feel sad if it gets bumped though, but it's unconditional. Own it and love it, look after your investment which you'd possibly not if leased. The view tends to be, oh well it's not mine, let them deal with it for some people.

Just my2p ok ;O)
Very sound advice. I can never see the point in paying for something that you'll never ever own and at the end of the term walk away with nothing, it just doesn't make sense. With my cars I know that if something major happens then I can easily sell them for instant funds
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post #15 of 21 (permalink) Old Mar 9th, 2018, 02:29 PM
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Leasing a car is like going to a good or bad movie. At the end, you will remain with the experience (the entertainment or disappointment). Is not like throwing money out of the window.

I had over time my own brand new car, delivered to me with 0Km that I sold after 9 years of daily usage ... I also had second hand car that was a pain in the butt, as well as a private leased car. In all cases the cost per month was pretty close no matter what kind of car it was.

Now I decided to get rid of all the hassle of owning a car and I opted for a company car ... so here I am, waiting for my company leased Countryman S E to be delivered to me, that comes with all fuel and electricity as a benefit (calculated monthly and taxed accordingly).

So far, on paper at least, this is the most effective way to use a car, with the only drawback that in case you quit the job (or lose it) you also lose the car.

As for the situation @MiniSoph is into .... I would never buy/lease a new car as the very first car ever driven. It is the perfect recipe for a costly near future. I would go for a SH car (mini or other brand) and sell it out after 6mo - 1yr and then go for a new one. At least build up some driving experience with a lower financial risk.
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