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Discussion Starter #1
Just wondering how most of you are paying for your Juke's.
I can't make my mind up but am leaning towards a full cash payment to avoid interest charges!
 

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Leasing. I usually have to change car every 3 years or so (work car allowance) and it seemed the cheapest option over that period.
 

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I went for the Nissan preferences it seemed the cheapest way to finance it £12695 £211 a month @ 5.9% with final payment of £6846 Im going to give my wife a couple of hundred pounds a month to put into a savings account so I have enough for the final payment. Maybe not the best way to do it but thats what ive done
 

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Fontie said:
I went for the Nissan preferences it seemed the cheapest way to finance it £12695 £211 a month @ 5.9% with final payment of £6846 Im going to give my wife a couple of hundred pounds a month to put into a savings account so I have enough for the final payment. Maybe not the best way to do it but thats what ive done
although our payments are different we have the same idea as you in regards to covering final payment although we do intend to p/x it when its 3 years old so will need to do the maths on that at the time
 

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I'm leasing, but only because I haven't got the cash. If you got the cash, buy the thing. Most interest rates are sub 2%, you'll be paying at least 5.9% interest - pretty easy choice really
 

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3 year deal for me big deposit then pay rest in 3 years or trade in for something else
 

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theguru said:
3 year deal for me big deposit then pay rest in 3 years or trade in for something else
Does that mean no monthly payments?
 

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Cash / mortgage mix for me. Mortgage rate is 1.25% at the moment.
 

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silverjuke said:
Cash / mortgage mix for me. Mortgage rate is 1.25% at the moment.
Ouch. You'll still be paying for the car in 15-20 years and the APR on a mortgage is much higher than 1.25%
 

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chris78 said:
silverjuke said:
Cash / mortgage mix for me. Mortgage rate is 1.25% at the moment.
Ouch. You'll still be paying for the car in 15-20 years and the APR on a mortgage is much higher than 1.25%
Wrong on all counts.
mortgage is 1.25% with interest calculated daily, so the APR is what it says on the tin.
Mortgage is an offset mortgage where they lent us more than we needed to move house, so the excess sits in a pot and can be used as and when.
So if I take out of the offset savings pot to buy the car and then repay the money at the rate I would have paid Nissan ( on the 5.9% deal) I will have been charged less interest and the money would be back in the savings pot sooner.
With Nissan deal I would be paying nearly £350 for 3 years.
With my mortgage that £350 a month would mean the same payments clear the loan in 3 months less.
 

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I'm leasing mine - why would you purchase something that depreciates so heavily?? Has always amazed me that we quite often rent houses and buy cars - why rent something that appreciates, and buy something that depreciates - why not the other way around??
Take my example - Juke 1.6 DIG-T TeknaList Price: £17,795Approx residual value after 3 years (according to What Car): 43%Total Depreciation in 3 years: £10,143.15Lease per month: £275.87 (3 months as deposit, plus 35 payments)Total amount paid for lease: £10,482.93Difference = £339.78
So that initial capital is better off being invested in my house - as they on average, double in value every 10 years or so (at least they have in the last 50+ years).I may as well pay the depreciation in small, manageable monthly chunks. :)
 

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I purchase it cash because having in the past been made redundant I don't have anything that I owe for now other than a very small mortgage which suits me and we usually change our cars every 18months anyway
 
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