J4CKO

iTrader: (1)

Ok, just got a new job as an Oracle contractor so consequently will have a bit more money assuming it all goes to plan and when I have built a bit of a float I will get a new car as my trusty 9-3 will be seven years old and over 100k and worth (and to quote J4cko's mate) 'The Square root of **** all', 2 grand or less.

So, whats the best way of doing it, just for example say I fancied one of the current crop of Hot Hatches am I best getting a loan or some kind of lease deal, if its leased does it have to be through the company and it become a 'company car' with all the associated tax burden.

Initially will be doing 200 or less miles a week so not that fussed about fuel consumption.

Probably getting ahead of myself but quite fancy an M3, always have, the current 6 cylinder one, a new hotch hatch (ST, VXR etc) or some uber diesel or will the chancellor make it so I can only justify a Passat or A4 Tdi, great cars but I fancy some thing a bit more exciting.

wall

Interest - on loans / leases / various other financing deals - is really quite low, so there is no reason to tie-up your savings in a depreciating asset (car) by buying it outright, even if you have the cash.

I suggest choosing the purchase system that allows you to put down the smallest deposit possible; keep your savings in the bank for a "rainy day", or invest them and quite probably make way more than the interest on the car loan.

Wall