[JukeSkywalker]

Test drove a Juke today, I love how they look - thinking of getting the ACENTA + Premium Pack 1.5 dCi
with Chrome Pack and Urban Pack

Just not sure whether to self finance and blow all my savings and get a bank loan at 4.9APR or to use the Nissan Finance Options 5.9APR- thingie - never done this before and skeptical of this kind of thing

Anyone done this and feel free to give me any other advice before I sign on the dotted line tomorrow afternoon?


Edited by: Juke_and_the_Fatman

 

[anotherbadname]

Hi Andy, Where are you buying your Juke from? i got mine from Chorley Nissan Wigan. I run a 1.5 dci Acenta with sports pack on my driving school and it's great.
Tom

 

[JukeSkywalker]

Hi Tom, there's a Nissan dealership in Leigh, I first saw the Juke driving past the Wigan dealership
the premium includes the Sportspack doesn't it, I prefer the Sports 17" alloys to the standard alloys

 

[silverjuke]

Test drove a Juke today, I love how they look - thinking of getting the ACENTA + Premium Pack 1.5 dCi
with Chrome Pack and Urban Pack

Just not sure whether to self finance and blow all my savings and get a bank loan at 4.9APR or to use the Nissan Finance Options 5.9APR- thingie - never done this before and skeptical of this kind of thing

Anyone done this and feel free to give me any other advice before I sign on the dotted line tomorrow afternoon?

You need to keep some rainy day money.
If you are choosing between a bank loan at 4.9% and Nissan Finance at 5.9%, the bank loan means less interest, so the choice is obvious.

 

[JukeSkywalker]

Silverjuke, yeah there's not much in it APR wise, but would I save make more money leaving my Cash lump sum in the Isa and taking the 5.9% - plus the 5.9% option would be a lower loan amount in fact i recon the total monthly payments would be £100 less on the options deal, plus I keep savings for a rainy day - or rather house bills...

I am leaning towards the Options, but its the options after the 3 years that give me the head ache

Nissan finance options (may not be exact but from my memory and conversation with dealer yesterday)

1. pay of the lump sum and keep the car
2. hand the car back and walk away with nothing else to pay (unless I break the 10k a year mileage limit and pay a fee for that at x amount per mile over the 30k and I think I do about 12k a year)
3. use the car as a deposit on a new Nissan

they do give you a guaranteed buy back price, finance amount depends on the final spec of the car i go for but think it will be around £7,500

my current thinking is
option 1 - no would want a new car in 3 years time so can discount this option
option 2 - if i did this i'd have no trade in options for my next car and would start from scratch
option 3 - tie's me in to Nissan

this post looks like it might need moving as its getting more than a quick Hello - LOL

 

[...]

Nissan also offer you the chance to refinance the final payment at end of 3 years aswell if you wanted to do so,
their is a possibilty the car might be worth more than the final payment, hence the use it as a deposit for new car in 3 years time , though no guarantee on that.
tied to Nissan is one of my concerns, although they may offer you the best return in 3 years you can still go where you like as they will just settle the finance on any deal you do elsewhere.

 

[Yorkie]

Always a tricky one, with interest rates as they are there does not seem to be much point in saving the money then paying the bank or Nissan a higher rate for the loan. However once you have made the effort to save the cash why blow it on a new car.

If it were me I would keep my cash in the bank, especially as it is an ISA and tax free, once you take the money out you will be starting from scratch. I would then take the bank loan and have no ties to Nissan, At least with the bank loan you might be in a position to pay it off early and save a few quid in interest if the terms and conditions allow this.

 

[silverjuke]

The need to make a further decision in 3 years time is what puts me off car finance deals. Either because you may not want to change cars at the end of that time or because your finances may be very different then. In my mind its a false economy, having lower payments for three years but then not owning anything at the end of it.

 

[...]

it is each to their own I have never been a lover of pcp's but it served it purpose,in uncertain finacila times it means i can have low payments hopefully save the ifference so come 3 years i have the funds to pay remainder off, also it worth remembering that a car will depreciate so no matter if you pay it all off in 3 years or still owe a chunk the car will only be worth the balance of the pcp so which ever way you choose to do it you will still be out of pocket due to depreciation. one + to pcp is say in 3 years they want 7k to finish finance but used car prices tumbled and it was only worth 4k you can give it back and walk away where as had you paid for it outright you know own a car worth a quarter of what you paid
Buying a new under any payment option has it plus's and minus's you have to make your own mind up which suits you at the time.

 

[ian]

I have always changed my car every 3 to 5 years these days basically because cars are so technical and usually start costing more after the warranty runs out so with the juke i have gone for the pcp option ill review it at the end of the 3 years and see weather it was worth it. I have heard good and bad about pcp options so i guess its just suck it and see time.

 

[sportyjuke]

sent you a PM

 

[JukeSkywalker]

Jorky

deks

silver

and ian

- thanks for the comments and advice

Ian, I guess I'm currently in the same thinking as you are - Suck it and See - Plus you do get the 3 years warrentee and the RAC cover which I currently get via my insurance company so I can drop that and save another couple of quid a month - and hopefully in 3 years I'll still have my cash lump sum in my isa and that will only get bigger should I then need a chunk out of it for a new car if I choose the walkaway option, unless the wife wants another new kitchen, garden, extension, or some other cook brained scheme to spend my hard earned cash

Sporty - not seeing your PM

 

[sportyjuke]

sent to wrong screen - Sorry

hello any how

 

[feefeeglasgow]

One thing though - if you trade in your car - you are not tied into buying a new Nissan

The trade in price goes to clearing off the finance with Nissan (RCI)

I have had PCP deals in the past and it doesn't mean you cant trade in for another marque

Fee x

 

[JukeSkywalker]

very true - all sorted now, ordered mine today - details all in separate post

http://www.jukeownersclub.co.uk/forum/forum_posts.asp?TID=849

which i see you've already found - LOL

 

[...]

http:// www.jukeownersclub.co.uk/forum/forum_posts.asp?TID=849

 

[JukeSkywalker]

thanks deks, should have known better to include the bbcode myself - doh!