What are you all up to
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Never looked at these PCP things, we always buy outright, so how would the existing PCP get paid off? Where does the money come from?
My understanding is that you do not "own" the car unless at the end of the initial plan you pay a lump sum, is that right?
Or you can just hand it back and (hopefully) owe nothing.
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The salesman said that the existing PCP will be paid off because it can't be transferred to the new car. I have already made 12 months of payments on the existing PCP of 48 months so one quarter of it has already been paid. So the balance left works out to approximately £9000 that will get paid off in the part exchange deal. I had hoped that the existing PCP could be transferred to the new car to save the 3.9% interest cost but unfortunately it can't be done.
In November 2018 we'll be moving to our seasonal pitch in Gatwick. With the existing Smart car I will have the cost in petrol of the 30 mile each way commute to work. 60 miles commute per work day plus fuel use for deliveries. With the electric car the commute will cost nothing, so huge saving on fuel costs for the four month use of the seasonal pitch.
With the existing car, we can hand it back after 48 months or pay what they call the end balloon of £2000 and keep tge car which then becomes ours.
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With the new car the end balloon will cost £5000 if we want to keep the car.
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I'm just looking at figures quoted: total cost £17060 less part exchange allowance £6000, outstanding loan on existing car £9817.38. Does that make sense? As our existing car cost £12000 when purchased a year ago and we're only allowed £6000. This means we lose £6000 on depreciation. So it means I'll have to pay £3817.38 deposit on a 48 month PCP of £293.89 per month for the new car.
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That's right. However, if £300 per month can be saved in fuel costs, there would be an overall monthly saving in costs. Only worthwhile if the car is being used for business, which it is and the company gives me drop money. So I get to keep the drop money without having to spend it on fuel.
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Malcolm I think your kidding yourself
Hard frost when I went to bed, all gone this morning and wet and grey. Never mind only another few days until the shortest day
Just filled the bird feeders up with the last of the sunflower hearts I brought on November 26th, thats 4 kilos gone, those Gold finches are eating me out of home and hearth
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No kidding. The drop money is a tax free business allowance but at the moment I have to use it to buy unleaded petrol. With the electric car the drop money will add to my overall pay because I won't be buying unleaded petrol anymore. Pizza Hut pay me 80 pence per drop less £1 insurance if there are more than 6 drops in my shift. HMRC agreed this to be tax free. It's paid to me in cash at the end of each shift. This payment is recorded on my four weekly pay slip where tax on my wages is deducted in the normal way on PAYE.
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I would stay with what you have Malcolm. Once they have fixed it up you have a good reliable little car still with a Waranty. Plus at least you can get petrol almost anywhere. I'm not sure how Pizza Hut would view delivery failure due to a flat battery.
We bought a Yaris in the same manner 3 years ago. Deposit, 3 years of interest free payments and final lump sum of £6000. We only did it because it worked out £500 cheaper than buying outright. I did offer to do that, but they would not give me the same discounts. The deal is up in February and although they have been plying me with constant emails trying to get me to trade in for new, we will pay off the £6000 and keep it at least another 2 years. Personally I think anyone in our situation would be mad to trade in. Yes I would like all the new bells and whistles on offer, but the current car only has 12000 on the clock, still has two years warranty and is a good runner. It would be throwing money down the drain to trade in at this time.
My advice, for what it worth, is to hold fire at least until the car is out of warranty and the losses due to depreciation have levelled off.
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Dull overcast and light drizzle here in Kent.Off to 'catch-up ' at the B/yd today.New iron railings for the front of my house arriving today for an 'offer -up,before going away to be galvanised.Fitting job for me after Christmas !! 0 -
Not worth it Malcolm, think of all the Tesco points you will lose by not buying fuel. As you always point out its worth paying all these bills to gain a few points, points make prizes plus site owners don't give Tesco points for use of their bollards.
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That's a lovely cheery thought OP - only a few more days until the shortest day
.Not a bad day here. Cold but bright.
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"The salesman" would tell you anything to obtain a sale, cos that's what they do!
Not sure many site owners would be happy with you plugging the car into the caravan, using additional electricity, and possibly tripping the mains every 5 minutes. It's only 16 amp, tops, and with everything else you have on electric I can't see this being a winner. Although I'm no expert.
As Oneputt has said, you're kidding yourself if you think it's a good idea. Your sums don't make any sense to me either.
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Like I said, I needn't use the site electric. I can plug into the showroom/ service centre electric plug-in that will give me a fast charge before starting work. That is free of charge.
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Malc, have a read of this article, others are available via www!
https://www.ft.com/content/852dbb54-8411-11e7-a4ce-15b2513cb3ff
I don't think plugging it into your caravan socket would be a good idea at all, even a normal domestic circuit sounds like a no no.
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So, how far away would that be from whichever site you are on?
How would you get back from there?
Only able to use their charging point if one is available, I presume?
Do they have many charging points there?
Personally, I think you are deluding yourself with this plan, but that is only my thought
You're free to make your own mind up, as usual
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My question is......
Where do you find the money for the deposit, which as you worked out, will be quite large?
I am also thinking that a car business does not give anything away, they have to make money, no such thing as a free lunch etc!
If you plug into your van, I think the sockets are on a 10amp breaker, certainly ours are. Would 10 amps be sufficient?
Also, you would have to switch off all heating overnight, could be chilly!
And this charging using "free" site electricity is taking advantage unfairly IMO
I would not want to rely on free charging being available somewhere.
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You can safely use a domestic socket to charge an EV, it costs pence, but the charge takes longer. But since Malcolm is not an EV owner it wont be happening.
edit
We went to a café and museum not long ago that offered free EV charging, so we duly tried it out as this was our first experience of a charge away from home. Of course we were aware that we were spending in the shop and café where prices no doubt included overall costs. Nothing is free.
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Malcolm,..... Ask yourself one question - What will happen if I lose my job or I am unable to work? - no income and increased out goings.
Your idea, whist it may work, is like a tower of playing cards. It can stand up but with just one nudge it will all come crashing down
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I've just spoken to the Smart car sales by phone and the sale has been agreed. They can get us delivery by the end of this month. He said that I'll be the first owner of a brand new electric Smart car in the whole country! I'm not sure whether or not to believe that but it's irrelevant. The whole point is getting a better car with more facilities so easier driving and saving in fuel plus environmentally cleaner.
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On a 24kW car battery similar to a Nissan leaf, it would cost you between £2.50 and £3.50 per night from flat to full. Obviously less if topping up through little use and taking into account tariff variations.
Basic home chargers peak at 3kW so site wise it would mean having the lights on and maybe the fridge
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Malcolm,these are the details for charging a Nissan Leaf,I am not sure how you are going to benefit from details below.I do understand you can use the dealers supply but that is a minimum 30 minute wait for a fast charge.
12-15 HOURS
The most conventional way of charging the Nissan LEAF is via the supplied cable, which plugs directly into a regular domestic supply. This allows you to charge anywhere there is a standard wall socket. The use of a dedicated circuit for your chosen socket is recommended.0 -
I prefer doing this because of being used to it.I have over two years experience of this kind of work which is useful and helpful to my employer and their customers.
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The salesman said to download the Zapmap app that gives a map of available electric charging points. I can easily allow that extra 30 minutes. They do free tea, coffee and cold drinks while you wait. I can use that time to catch up with the posts on here!
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I've just been told by the salesman that I can do 90 miles on a full charge but if using windscreen wipers and headlights, this will reduce to between 60 to 70 miles on a full charge.
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