Vehicle finance recommendations

[spuddog0507]

2.5 - 3k is only going to buy you a 10/12 year old 4x4 or even older and that is not getting away from the problem of running end of life vehicles, all i see there is even bigger repair bills than what you have had before double your money at least and look for the right vehicle that suits your needs, dont just buy the first thing you look at, look at several or even dozens before you make the plunge, and be patient as patients pays in the long run,   

[Blah]

Might be worth looking at Toyota Landcruiser Colorado. Tows 2.7 tons. Mine is a '97, bought it with 220k miles 4 years ago and has been good to me. Should be able to find a decent one for the sort of money you're looking at. Atrocious fuel economy, but cheap to insure etc. 

 

Similar reliability as a Hilux, but less desirable and therefore cheaper.

Edited November 5, 2019 by Blah

[benedmonds]

Do you need to own? What about hiring when you need?

4x4 Vehicles

WWW.SHB.CO.UK

 

[doobin]

6 hours ago, Rough Hewn said:

What I'd really like is just to borrow about 1.5-2k, I can add a grand to get a cheap 4x4 which will last 2-3 years. £2.5-£3k?

A brand new is not an option yet. Couldn't afford £4-500 a month.
Yet.

Doobin, you're right about machinery,
(I started 12 years ago though with a wheel barrow and an 021)
I've got a transit tipper, it's just I get quite a few jobs where a 4x4 is essential.

That's the same as me- 12 years ago, and the 023 was borrowed!

 

If you already have a transit tipper, then cross your fingers and spend 2.5k on a Ford Ranger or similar. Yes, you'll have repair bills, but hopefully you'll get lucky. I've never spent more than 4k on a vehicle, as I prefer to have multiples for backup and brand new tools instead.

[scbk]

Horses for courses innit, one of my current run a rounds cost less to buy than the Husqvarna battery!

Edited November 5, 2019 by scbk

[Jonny69]

One very important factor is tax. You can claim a lump of capital allowance with a new or expensive van which in my experience will negate any deprecation and them some. But it will depend on which tax bracket you are in. The more you earn, the more benefit from an expensive van. 

[doobin]

19 minutes ago, sanchez060 said:

Blah, well, it definitely remembers me a time, half a year ago, when we were trying to find finances and some investments for buying two heavy machinery from Caterpillar, for our forestry business.

Oh, you simply must tell us who you used!

[LeeGray]

RH just pick up an old v8 Range Rover for a grand and if it goes wrong scrap it and get half your money back! Tow 3.5t and mine goes places my defender wouldn’t.

 

i assumed I’d be scrapping mine within a year, it’s now nearly three years and about 40,000 miles heavy towing in and still not gone wrong. Cheapest and best work vehicle I’ve ever owned.

[Matthew Storrs]

On 03/11/2019 at 16:24, Big J said:

A new Navara/L200/Hilux etc will only work out at a monthly payment of about £350/month plus VAT over 5 years and it's yours at the end. That's less than £100/week and when you factor in the much better fuel economy, zero repair costs (most offer a 5 year warranty) and a large reduction in down time, that cost is well worth it.

 

Just fuel economy is a big one. A modern Narava for instance (NP300 I think is the designation) does 10mpg more than it's predecessor (the D40). On 25k per annum, that's a fuel saving of £1400, which is a third of your annual finance cost.

 

And then downtime. Lets assume your billing out at £150-200 a day. If you lose 3 days per annum with an old truck to repairs, you're doing well, but that's over £500 lost. Plus actual repair bills.

 

If it's your daily driver, I'd always recommend going new unless you have a back up vehicle. You always lose money with vehicles - with new it's depreciation, with old it's down time and repairs. I find the former to be less annoying.

Yes yes yes, this is what I’m always saying (although havnt actually implemented myself yet!) but it’s the downtime for repairs that’s the killer. Finance you know is happening and can plan for but the broken down truck just results in letting other people down as well as your self and generally happens at 6pm on the way home from work leaving little time to sort anything out fit the next day. It’s not so bad if your running multiple vehicles though and always have something to at least tide you over.

i use a company called ignition finance in Truro. Good to deal with and they will fund smaller (Under £5k for eg ) purchases themselves. Don’t forget no MOT for first 3 years (?) on new stuff so another fairly considerable saving 

[Big J]

10 minutes ago, Matthew Storrs said:

Yes yes yes, this is what I’m always saying (although havnt actually implemented myself yet!) but it’s the downtime for repairs that’s the killer. Finance you know is happening and can plan for but the broken down truck just results in letting other people down as well as your self and generally happens at 6pm on the way home from work leaving little time to sort anything out fit the next day. It’s not so bad if your running multiple vehicles though and always have something to at least tide you over.

i use a company called ignition finance in Truro. Good to deal with and they will fund smaller (Under £5k for eg ) purchases themselves. Don’t forget no MOT for first 3 years (?) on new stuff so another fairly considerable saving 

As you say, it's the fixed cost that is attractive. I think my Berlingo is £490/month, but that's on a 3 year term, at which point it'll be mine to sell. Which I will do as it'll have 50-60k on the clock, be out of warranty and be requiring MOTs. In the mean time, I don't have to worry about any of that. Even the services are fixed at £100 each (but rolled into the finance). 

 

On the flip side, my older vehicle (the 2012 4x4 Sprinter) has cost me at least as much in repairs/upgrades over the past 18 months as the Berlingo has in finance and I've not built any equity and there has been downtime which has been a PITA.

 

If you can justify or afford two trucks, I'd always recommend a small works van for a primary vehicle as you can carry loads in the back, they have spacious cabs and do 50+mpg. Then an older vehicle for towing as required. That's obviously not going to work for someone needing to tow every day, but those little vans are good fun to drive.