Just sold my scoob last week,1994 5 door Sti, I've had it under 2 years and between depreciation and maintenance its cost me over 500 quid per month of ownership. That does not include insurance,petrol or tax. Bought it cash so no repayments to make but makes me think leasing may not be as bad as it first looks !!! Anyone else done the maths on this ? I'm sure for 500 per month you'd get a reasonable motor !!! Not that I didn't have a reasonable motor, just not new !!

Cammy

 

Cammy,

£500 per month will get you a lot of motor if you can put down the required deposit for the finance, I believe they require a minimum of 10%.

My 'V' plate RB5 WR has a guaranteed minimum future value type of finance package. I put down about £4000 and have repayments of under £400 a month. For the type of money you have spent you could reduce the 'balloon' part of the deal even further....or buy a Merc or BMW and not suffer so badly on the depreciation.

To get an idea of what to expect from the dealer I bought the RB from I went to

 

Yep, hurrah "new car prices are coming down".

Fine for anyone who doesn't already have a car. Bobbins for the rest of us (majority) who take the financial hit of the disaster that is the second hand car market, where prices are falling like an Impreza fuel gauge.

And I don't just mean Impreza owners.

I want a cheap car as much as the next bod, but the trade are turning new price cuts into profits by stiffing people for part ex values "because of poor second hand prices".

Like you I wavered about how much of my own money to put into the conundrum but I found the cost of private leasing (ie long term renting)is astronomical. When you can find it!

 

Barry,
Don't disagree on Used car front, I was thinking on the convienience side of ease of getting rid at the end of the term. The thing that attracts me is the knowledge of what its all worth at the end.
If I'd known in Jan 99 that essentially its going to cost me over 500 per month to have the scoob then I could easily got a better deal than the one I had.Not sure I'd have believed it then !!! Sure I was unlucky in some of the maintenance areas but I'd rather someone else took the risk than me.
Still looks attractive.

Cammy

 

Cam

£12000 in 2 years on a 5 yr old Scoob?

Thats serious depreciation & servicing!

Did you use it for Mega-Miles ?

Mick

 

bought at 25KKM for 13500, when market was booming. Sold for 6300. Spent 4K on repairs and servicing(2clutches +new flywheel,knock sensor,oil leaks,exhaust) plus 800 or so on tyres etc. Probably could have had a taxi for two years for that ....did around 80KKM in it so pretty big miles.
Cammy

 

Hi,