Notices
ScoobyNet General General Subaru Discussion
Sponsored by:
Sponsored by:

Leasing or Buying? Please help the poor newbie

Thread Tools
 
Search this Thread
 
Old 22 March 2006, 11:04 PM
  #1  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default 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

Last edited by spursfc; 02 April 2006 at 10:11 PM.
Old 22 March 2006, 11:20 PM
  #2  
EVOLUTION
Scooby Regular
 
EVOLUTION's Avatar
 
Join Date: Aug 2002
Location: never the same place twice
Posts: 3,346
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 22 March 2006, 11:36 PM
  #3  
_strike_
Scooby Newbie
 
_strike_'s Avatar
 
Join Date: Mar 2006
Location: Manchester
Posts: 25
Likes: 0
Received 0 Likes on 0 Posts
Default

I'm buying one after leasing other vehicles, if you get a good warranty on a used car you get worry free motoring anyway.
Old 22 March 2006, 11:38 PM
  #4  
EVOLUTION
Scooby Regular
 
EVOLUTION's Avatar
 
Join Date: Aug 2002
Location: never the same place twice
Posts: 3,346
Likes: 0
Received 0 Likes on 0 Posts
Default

with 8k the choice isnt going to be massive, but like i said, theres pro's n cons

john
Old 23 March 2006, 12:01 AM
  #5  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

"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?
Old 23 March 2006, 12:22 AM
  #6  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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!
Old 23 March 2006, 04:52 AM
  #7  
2000TLondon
Scooby Regular
 
2000TLondon's Avatar
 
Join Date: Feb 2004
Location: Texas - It's BIG!
Posts: 2,105
Likes: 0
Received 0 Likes on 0 Posts
Default

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!!!!!!
Old 23 March 2006, 08:29 AM
  #8  
Butty
Scooby Regular
iTrader: (2)
 
Butty's Avatar
 
Join Date: Oct 2000
Location: MY06 STi Spec D
Posts: 5,254
Likes: 0
Received 1 Like on 1 Post
Default

[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
Old 23 March 2006, 07:09 PM
  #9  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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!
Old 23 March 2006, 07:12 PM
  #10  
EVOLUTION
Scooby Regular
 
EVOLUTION's Avatar
 
Join Date: Aug 2002
Location: never the same place twice
Posts: 3,346
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 23 March 2006, 07:33 PM
  #11  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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.
Old 23 March 2006, 07:50 PM
  #12  
nik52wrx
Scooby Regular
 
nik52wrx's Avatar
 
Join Date: Mar 2005
Posts: 3,272
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 23 March 2006, 08:33 PM
  #13  
2000TLondon
Scooby Regular
 
2000TLondon's Avatar
 
Join Date: Feb 2004
Location: Texas - It's BIG!
Posts: 2,105
Likes: 0
Received 0 Likes on 0 Posts
Default

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.

Last edited by 2000TLondon; 23 March 2006 at 08:39 PM.
Old 23 March 2006, 08:37 PM
  #14  
2000TLondon
Scooby Regular
 
2000TLondon's Avatar
 
Join Date: Feb 2004
Location: Texas - It's BIG!
Posts: 2,105
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by nik52wrx
Any idea what these warranties cost ?
Subaru warranty was costing me around five hundred a year.

Warranties for the wearables will be a lot less, i'd be thinking around a hundred pounds a year give or take.......
Old 23 March 2006, 08:49 PM
  #15  
goodwood scooby
Scooby Newbie
 
goodwood scooby's Avatar
 
Join Date: Aug 2005
Posts: 17
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 23 March 2006, 08:50 PM
  #16  
RRH
Scooby Regular
 
RRH's Avatar
 
Join Date: Dec 2001
Location: Just far enough from sunny Liverpool
Posts: 6,963
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 23 March 2006, 09:14 PM
  #17  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

Hi RRH,

Wow that's very competitive price compared to most of the deals i've seen so far. I've emailed them to see what cost a two year deal would be.

Cheers mate.
Old 23 March 2006, 09:20 PM
  #18  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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.
Old 23 March 2006, 09:24 PM
  #19  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

2000TLondon just noticed your post from 20.33 - just wanted to say cheers for that advice.
Old 24 March 2006, 11:42 AM
  #20  
Burt
Scooby Regular
 
Burt's Avatar
 
Join Date: Nov 2000
Location: North West
Posts: 370
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 24 March 2006, 12:41 PM
  #21  
ScooBStu
Scooby Regular
 
ScooBStu's Avatar
 
Join Date: Jun 2005
Posts: 401
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 24 March 2006, 01:00 PM
  #22  
speedking
Scooby Regular
 
speedking's Avatar
 
Join Date: Aug 2001
Location: Warrington
Posts: 4,554
Likes: 0
Received 0 Likes on 0 Posts
Default

When leasing, consider very carefully the mileage you will do, as exceeding the limit can be very expensive Good luck.
Old 24 March 2006, 02:25 PM
  #23  
corradoboy
Scooby Regular
 
corradoboy's Avatar
 
Join Date: May 2003
Location: Just beyond the limits of adhesion
Posts: 19,020
Likes: 0
Received 0 Likes on 0 Posts
Default

A new one needn't cost you £20k. Importers have new WRX's for £15599 and up Alliance start at £16095 and do personal contracts with 12k limit and £8k future guarantee. Full 3 year warranty too
Old 24 March 2006, 02:37 PM
  #24  
EVOLUTION
Scooby Regular
 
EVOLUTION's Avatar
 
Join Date: Aug 2002
Location: never the same place twice
Posts: 3,346
Likes: 0
Received 0 Likes on 0 Posts
Default

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


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
Old 24 March 2006, 04:16 PM
  #25  
HOWY
Scooby Regular
 
HOWY's Avatar
 
Join Date: Feb 2005
Location: West Yorkshire
Posts: 902
Likes: 0
Received 0 Likes on 0 Posts
Default

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
Old 24 March 2006, 06:47 PM
  #26  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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

Last edited by spursfc; 24 March 2006 at 07:29 PM.
Old 24 March 2006, 06:56 PM
  #27  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

ScooBStu i've sent you a PM.

Cheers
Paul
Old 24 March 2006, 07:25 PM
  #28  
EVOLUTION
Scooby Regular
 
EVOLUTION's Avatar
 
Join Date: Aug 2002
Location: never the same place twice
Posts: 3,346
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by spursfc

average cost £450! per week

Cheers
Paul

and thats just the fuel
Old 24 March 2006, 07:32 PM
  #29  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

Well spotted! S/be £450 a month.

For £450 a week I expect I could get a Bugatti!
Old 02 April 2006, 06:16 PM
  #30  
spursfc
Scooby Regular
Thread Starter
 
spursfc's Avatar
 
Join Date: Mar 2006
Location: Berks
Posts: 107
Likes: 0
Received 0 Likes on 0 Posts
Default

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


Quick Reply: Leasing or Buying? Please help the poor newbie



All times are GMT +1. The time now is 01:44 AM.