Vehicle finance recommendations

[Matthew Storrs]

On 05/11/2019 at 14:52, doobin said:

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.

It’s a good way of doing it. By having multiple vehicles you can always have the right vehicle for the right job. Rough- have you looked at the Jeep Grand Cherokee, 3l merc engine- bags of power, 3.5t towing and can be found tidy for around £3k. Or does it have to be a pickup?

[donnk]

1 hour ago, Big J said:

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.

maybe been better off not tieing up the cash and contract hiring.

[GA Groundcare]

1 hour ago, LeeGray said:

RH just pick up an old v8 Range Rover for a grand 

Not these days! RRC seem to of gone up lately. If you can find a road worthy not rotten example for 1k let me know! ?

 

3dr classics are mental prices now.

 

When starting up 5 years ago I bought a 2002 Disco 2 TD5 Commercial for 2k. It was spot on. 

[Rough Hewn]

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.

I've got an old vw golf, for family/subbing/quoting and the transit crew can tipper is back on the road.[emoji16]
Yes it's fun nipping about in the golf, and very cheap. But the transit is the work horse.
New is a great idea, but my work wouldn't justify it.[emoji51]

[Rough Hewn]

It’s a good way of doing it. By having multiple vehicles you can always have the right vehicle for the right job. Rough- have you looked at the Jeep Grand Cherokee, 3l merc engine- bags of power, 3.5t towing and can be found tidy for around £3k. Or does it have to be a pickup?

I'm open to most ideas,
Had a v8 petrol disco, burnt the clutch out in 3 months. £200-250 a week in petrol.[emoji23]
Ideally a diesel for towing, but also taking crew and kit off road.
My only concern with mercs is the cost of repairs.
[emoji106]

[aspenarb]

Not sure what deal my nipper got from Ford , he put 2k down and pays £300 a month for a brand new Transit van. He went in there to discuss the deal and in less than a week he was driving it.

 

Bob

[benedmonds]

2 hours ago, Big J said:

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. 

I understand wanting to have fixed costs..  but that is £17,640 over the 3 years. A 3 year old belingo should sell for around £5,500. £4,000 a year is a lot to spend on having a new "reliable" berlingo. 

[Big J]

6 hours ago, donnk said:

maybe been better off not tieing up the cash and contract hiring.

Too much risk with forestry vehicles. Can't risk handing a vehicle with cosmetic damage back at the end of the term and being penalised accordingly 

[Big J]

6 hours ago, benedmonds said:

I understand wanting to have fixed costs..  but that is £17,640 over the 3 years. A 3 year old belingo should sell for around £5,500. £4,000 a year is a lot to spend on having a new "reliable" berlingo. 

It's top spec. Pretty much every option but for the auto box (which I'd have put on in hindsight). Would be more than £5500 when sold. 

£4k a year isn't a big cost for the convenience and comfort of it. With it being a very modern vehicle, the multimedia and phone system is superb, so it's my mobile office for 1-2hrs a day. It's also tax deductible obviously. 

[doobin]

I'd never buy a new vehicle, the hit in depreciation is huge. Way more than something like a digger.