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It's only a car, family comes first so don't stretch yourself.

You earn a decent wage, save up the money and buy outright would be my advice, I could not stand the thought of giving a finance company my hard earned just for a car.
I agree with Jamie.

While it''s a nice car, buying one with a small deposit is not a good idea IMO.
You end up looking at the running costs, adding the large HP payment and having 2nd thoughts which does not make it a nice car to own.

Save up a bigger deposit, otherwie to much of your free cash will go into a car.


Have to say I would not have one as a family sole vehicle.
You need a run-about you can park anywhere and fit in a parking space.
Also you wrote kidS plural. You need to be a rather short family to ue the R35 as a 2+2 seater unless you like playing sardines.
 

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Gearbox issues are much cheaper than that.
If something breaks you don't go to Nissan for a whole new gearbox, you go to a specialist and get the problem fixed.
I'd expect most things to cost between £2k and £3k.
 

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The issues you have heard on are not on the 09 cars, it's on the 08 cars which were not officialy sold in the UK. So avoid imports and you'll be fine.

UK cars didn't suffer from any issues really.
The Japan and USA cars got those as they got the car first. :)

If you really want a MY11 you need to look at what extra you get, but I'd expect to pay around £45k in two years time.
It's not just a smoother car due to the suspension. It's nicer inside, has more downforce, better brakes, facelift with DRL etc...

But if the MY09/10 is £10k(ish) cheaper it's the better buy as it's 95% the same car and can be tweaked.
 

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Same here.

It's getting the right balance between having what you want and not having it because you are planning for the future.

I used to do the latter too much, now I'm enjoying the finer things in life a bit more. :)
 

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Let me put it another way. If you put it on your mortgage. £30000. The Interest would cost you £75 a month. Thats peanuts. The cost of a tank of fuel ! Just pay on top of the £75 a further say £250. So £325 a month to own a GTR. Thats Cheap. Obviosly you need a deposit.
At the risk of stating the blindingly obvious, paying £250 capital off per month means it'll take you 10 years to pay the £30k back. Your payments may not even keep up with the depreciation leaving you with a higher mortgage than when you started if you sell the car later. Depending on the deposit of course. :)

Yes, it's cheap. But I'd say you need to be paying off £500 plus interest at least so you are not getting into negative equity and paying the car off over five years.

What is considered a good amount if going down the finance route then? Say for a GTR that is for sale at £36k, 20% be a good guess to start with?
If going down that route you have two main options. HP or PCP.

I find HP costs around 12% on top of what you borrow, if you spread the cost over three years.
So £36k will leave you with repayments of around £1120 per month.
Over five year's it'll be around 19%, so £714 per month for £36k.

On a PCP you will get shafted.
This is only an option (disclaimed - in my opinion) for people that don't have the resources to buy the car any other way.
As you defer a large percentage of the cost until the end in a balloon, you end up paying interest on that lump of capital for the whole time of the loan.
So you pay much more in interest, but get lower month repayments.
But as you are not building up any capital in the vehicle you could be stuck in this situation for a long time if you keep wanting a nice car. Because when you sell the car and pay off the balloon you are still not going to have a decent deposit for the next one.

With the running costs of a GT-R I am of the opinion that if you need to go the PCP route you need to ask yourself if you can really afford the car.



For me a decent deposit is the way to go.
 

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Not totally accurate, PCP works for cars with high Guaranteed minimum future values but isnt suitable for cars that depreciate quickly. It follows many of the traits of a lease. The higher the residual the lower the payments because the car is worth more at the other end. Remember you always have the option of trading it in for more then the future finance value. the final value is really just a settlement amount.
But the balloon/future value is still attracting interest charges for the whole time of the loan?

I believe so, which is why I personally don't like them.
 

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That is correct but the total calculation is identical to 5 yr hp.remember the car covers the final payment but only if you hand it back. The only reason dealers like PCP is because it makes you do something in 3 years and hopefully that means buying another car off them.
Lots of good info Perrin. :)

My reasoning has always been that as HP means you are eating away the capital the overall charges are lower as (on average) there is far more money owing on a PCP over the same term (due to balloon) so the interest is higher.
 
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