Nick Graves

Same as mortgage backed securities, Rog; they're packaged up and flogged off to gullible customers of the banksters, giving the leasing company more fresh money to lend out.

We are due another recession, so people will begin to default (particularly the sub-prime customers) and the pyramid scheme will collapse and they'll have to do more quantitative printing to bail the banking system out again.

So my advice is get one now if you want, before the market dries up in a panic. I realised that the mortgage industry was on a suicide bash in the early oughties, so took all the good deals I could get and it turned out rather well.

BTW - car sales are suddenly severely down in US and here, as people have used-up the over-expanded credit, so there are early signs it's on the way.

Nottm_S2

I always assumed the cash price was inflated.. the money is interest free (virtually) but you're
not paying enough to cover the shocking depreciation...

like those mortgages on 'non-permanent' homes in the US

i priced a 308gti on carwow.. just over £20k

but ford wont drop a penny on an Arse

unclefester

I wouldn't spend 17k on a 'new' Micra either.

lovegroova

Indeed, BMW are currently offering a 9% discount advertised as a "deposit contribution" if you take out either a PCP or an old fashioned HP at a very unreasonable 4.9% APR.

It's about £350 a month on the PCP and £650 on the HP.

arsie

So that is £12.6k for new for three years at £350/month. Be interested in your option to buy price.

That used three year old at £15k should be about the same on finance? Extended warranty is wise in case you wanted to sell on after three years. I always think six years marks the half way house in car lifetime. Before that warranty is possibly wasting money, after that as big things go it is handy to have. A buyer may not think the same though. I quit the warranty merry-go-round in protest at BMW replacing shit plastic throttle actuator gears that fail with ... the same shit plastic gears that fail ... replacing the same shit plastic gears that fail with ...

lovegroova

It was about £11k - Total was about £27k IIRC

PaulF

Delbert O'dullard here...

We replaced the 160 break DS3 Sport we had with the 118i M Sport and didn't notice it being too much stiffer - it does ride on the firm side though. The reason we went for the M Sport was simple, In Wifey's fickle eye it looks significantly better as it has a different body kit, it has nicer wheels and the interior is much better. It also has a better level of standard kit.

Its heavier and and has less power than the DS so is noticeably slower but it drives so nicely that that isn't an issue (plus a trip to DMS for a 34 BHP upgrade is in the planning). I would recommend one. If it's too gutless then the 120 should do it for you. There were some very good PCP deals floating around last year and the new front wheel drive one is coming so I'd see what a haggle would sort out...

MB

I'm just glad you won't own a Peugeot anymore

Just don't put any M badges on it, which seems to be getting very out of hand. I'd love to have word with the guy I see with a 320d who's put an M grill on the front and M badges on the sides / rear and ask who he thinks he's kidding...

But I do like the 1 series... they seem to have got the pricing and practicality very nicely done.

lovegroova

Plan has changed completely now. I've ordered a Golf GTi

(mostly because I got a good discount, and it comes with everything I want as standard, unlike the BMW on which pretty much everything is extra)

MB

Was going to suggest that.

Good choice.