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Hi All,

Apologies for a fairly sensitive thread and I've searched (can only get info on monthly running costs, not monthly payments on the car itself).


So I am 27, I've landed a new IT job (2nd day!) which is going well and paying well. I plan to get a GT-R next year. TBH I could afford one now but I want to settle in my job and just save up more as I want to get a flat for investment too (basically address other needs in my life - yep, GT-R is a need!!).


Anyway, I can put £12.8k to a deposit on a new R35 GT-R. Does anyone know, with this deposit on a PCP or hire-purchase type scheme, what could I expect to be paying monthly for the car? I'd like to pay between £1-1.3k for the car itself. I know Nissan offer free servicing if you finance through them which is appealing, but the finance offers are better outside (correct me if I am wrong).

Ive considered servicing too, which can be costly but I can cover (as well as insurance). The car would be weekend toy only.


Again, I've searched but found limited info on monthly payments and not what answers my situation.



Thanks for any suggestions.
 

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I think the nissan site has a finance calculated, oracle finance has a similar thing iirc.

Best things is to call and ask, some companies can chance things to suit your needa, eg oracle
 

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Hi Blade, srry I don't know anything about financing but am always intrigued by it. It just seems a lot of money to borrow for a depreciating asset, not having a go at anyone that does, each to their own, and I know the desire for a decent car is strong lol, but sounds like you work things out to the bone i.e 12.8k deposit.

I would never buy brand new though, 6 mnths old with 500 miles on the clock can save you 10 grand. The guy I bought mine from bought it brand new with finance but had to sell after 6 mnths. He owed 45k on it which I paid off for him plus 15k his way.

Would definitely get a service plan too, it covers 3 years or 27k miles whichever comes first.

I do around 18-20k miles per year and running costs (all in inc depreciation) are around £1 per mile.
 

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Tend to agree with Trevor, you could save 50% on purchase price and get a second hand car with about 10k miles on it.

At 27, I'd be doing everything I could to secure appreciating commodities first, like your proposed investment property. It sounds like you've considered this and have your head screwed on so consider that a brand new car loses a huge chunk the second you drive it, but you could walk away from a second hand car without losing a penny or potentially even better off. On top of that the interest payments are proportional to the value so the Liam is more expensive as well as the depreciation.

It's a hell of a lot more outlay for what is tangibly an identical car. Factoring in that it's a weekend toy only, I would look into the figures VERY carefully.

In my experience, earning money by spending time and money cleverly is a lot more fun than buying things, especially when it brings you to the point that you can just buy them without even worrying about the cost.
 

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buy a modded 09 now, save a fortune. get finance through a bank loan not through a dealer, buy private.
 

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Generally I agree with Adamantium above ^^^.

But if you decide you must go new consider this.
At six months old it'll be worth £60k private/trade in. The MY14 is £78k, with the fancy paint it's almost £80k.
So you are losing £3,000 per month for the "kudos" of driving a new car.

I bought my first GT-R for £42k on finance. Put down £12k and financed £30k.
Every time I looked out of the window it annoyed me that it was sitting there costing me money + interest.

So I didn't buy the second until I could afford to buy it outright. It was a much better ownership experience.
I bought a one year old GT-R with 3,700 miles on it for £57k, a saving of around £15k on the MY11 list price.

Some ball park figures:

£78k car.
£13k deposit.
£65k to finance.
Over 5 years it's £1,200 - £1,300 per month.

Your deposit of £13k will be wiped out by depreciation in the first few months, leaving your repayments to just keep on top of the normal depreciation over time once the initial drop for driving it out of the showroom has gone.

If you use the car a reasonable amount (as you are paying a lot for it) you can easilly make that £1,200 - £1,300 up to £2,000 per month with running costs.

So before you commit to a new one, I'd just make sure you are happy with potentially spending £2,000 to keep a car on the road. Per month.

At three years old the car will be worth £45k or so.
By then you'll have spent £85k paying for it and running it and will still have around £30k outstanding, so will only have around £10k - £15k equity in the vehicle.
Less than the deposit you started with three years before...

Not a problem, as long as you are happy with the figures. :)
 

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Funnily enough I've just sorted finance on a 2009 Black Edition. It's £38950, with 19k miles, 2012 gearbox and Y-pipe upgrades. I've only put down a £3k initial payment, and with interest rate of 4.43% it comes to around 730/month (which includes "exotic warranty" and a lender's fee). The dealer said he wanted/expected nearer £40k but it seems not many people have that amount of money for a supercar, so he reduced the price.

On the subject of new cars - I leased a new 2011 370Z for two years, when new it was ~£36k and two years later with 20k miles it was worth ~£20k in great condition. I agree with what others are saying, having a latest model would be great, but you are essentially paying for the depreciation, and as you'd be getting the 2014/15 model, it's definitely worth checking 2011 onwards since there is isn't a huge difference IIRC - I wanted a 2011 model for the extra horses but couldn't justify it. Definitely worth a thought or two.
 

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Get your property first then the GTR.

I bought my flat outright and then the GTR 6 months later with a little finance. It was the only thing I had on finace so it didn't bother me.
 

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Just got back from Nissan Mill Hill where they had a white 63 plate demonstrator for sale.

They had a summary of the finance stuck on the window so I took a picture of it for you.

 

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^^^ That is why we finance our Company LEAFs ourselves rather than using Nissan.

Nissan are generally expensive.


Nearly £1,000 per month for 60 months to finance £44k !!!

Jeepers. :(
 

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Personally I'd wait until you have all or at least 80% of the money in your bank before looking at buying a GTR. Unless you've got some serious disposable income, £2000pcm (including running costs) is a fair amount to be going out of your account every month for a car.

I bought my 59 plate outright from a private seller, I couldn't live with having £1200pcm going out of my account for a car that if something breaks or needs replacing on top of the finance as it could impact on other things.

Notice the trend from most of the replies in the thread; only buy new if you have no issues losing a few grand a month on depreciation or on finance if you can live with a few grand out of your account every month for year after year without even thinking of modding the car!
 

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Am surprised and proud that others have responded with sensible advice. I was waiting for the "you only live once brigade" at which point I was going to point them to the global financial crisis caused by the must have now mentality.

Buying now pay later is great until the initial buzz goes when you leave the dealership.

For me depreciation didn't bother me, as I don't treat the money tied up in the car as an asset, I consider it irrecoverable lost money, and am thankfully able to do that because having earned it first.

Going into debt over a liability can hugely detract from the pleasure of ownership.

Damn I sound old - my dad would be proud.
 

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Just got back from Nissan Mill Hill where they had a white 63 plate demonstrator for sale.

They had a summary of the finance stuck on the window so I took a picture of it for you.

Adam, tell me you didn't go out specially to find that out did you?
 

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I waited until I had enough money to buy mine outright. IMO its plain silly heavily financing a car, especially a new one. The money you loose as soon as it leaves the forecourt is likely to be a fair few months payment.

Funny this thread should crop up as I was thinking today that I am planning to get rid of the GTR next March and will hopefully be buying myself something which will require finance (I never finance cars). However, I will have 80% of the cash to put down, so it is a small top up. If it all goes tits up I can flog the car and will still have a fair old chunk of money to play with. To put down a tiny deposit (less than 50%) on a new car of a GTR's value is plain madness IMO.
 

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I was quite young when I owned my last 'decent' car, an R32 Skyline GTR. I could just about afford the daily running costs (despite having bought it outright) but lived in fear of a big bill coming my way. One of the reasons for selling it in the end.

Whilst in the grand scheme of things the GTR provides good value for what it delivers, it is costly to run meaning you will get big bills on an annual basis. Tyres can be annual and will be just over £1000 (covering between 6k and 16k miles depending on driving and tyre) and brakes which are over £2000 for a set which I assume will last possibly 2 years, but even if more, not by a significant amount more.

Where I am at with my own search for an R35 GT-R is that the purchase of buying the car is just a small part of the affordability calculation and as many have said, depreciation needs to be a significant consideration. One of the things that appeals about the 09/10 model cars is that depreciation is minimal which makes it a viable prospect. Also no sweat about modding affecting warranties.

I am going from scratch, having had (and still have) company cars. This means no capital already in a car so am in the process of saving up enough to ensure I have a sensible deposit x finance ratio. The ideal finance position being such that it's not a noticable amount each month and is repaid within 3 years without too much interest - meaning when the tyres need replacing, it's a good time as I can try something new or have money for modding (which seems like an addiction - on par with class A drugs from what I have read - except for the cost side - modding costs loads more..! :flame:)
 

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Looking at Adams picture shows that buying even this £10k less than retail car almost new from the dealers would cost you around £15k in interest and the car would likely depreciate around £35k over that time.

£50k is a lot of money to a lot of people for 5 years car ownership :eek: I know plenty of people do it but that's not for me :rolleyes:
 

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Save your money, why the need to buy a brand new GTR? You can pick up 09/10 cars for between 33-40k. Best advise save another 10k and do 20k on finance if you must. I would never pump serious money into buying expensive car as they are a loss over time.
 

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Is your flat for "investment" your first home or do you have another property already?
 

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I bought a 2009 one year ago with 12k miles on the clock and the balance of a litchfield extended warranty for £35.5k private sale.

No way would I consider a new car £42.5k more valuable.
I took it to stage 4 and its an absolute dream. Its now out of warranty so the way I look at it if it breaks I have a £38k (after the stage 4 and some carbon bits) contingency fund to fix it, if it doesn't break then I can probably sell it for very close to what I spent on it.

I understand the new car thing - I had a jap import GTR when they came out which priced at something like £55k back in 2008, but at £78k its a sure fire way to lose bucketloads of cash. I'm yet to meet someone reliant on a salary that doesn't regret a new car purchase.
 
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