My brother-in-law is changing jobs and ordering a new company car for his new job. He has to hand his current company car back next week and will be without a car until the new one is delivered. This could take 4-6 weeks.
So, what's the cheapest option for him as he needs a car every day? He doesn't have his own insurance as he's always had company cars.
cycle...
hire? short term lease? both mean not needing your own insurance... or buy a banger for 6 weeks...
buy a bargain and sell it again for the same money 6 weeks later....or even at a profit. Seriously, for the amount a car is going to depreciate over that period of time you're unlikely to take more than a £100-200 hit, which has got to be cheaper than hiring...
sig removed by Zak33
As above imo.
Theres no point hiring when you could spend the same/similer amount and have a sellable asset at the end of it. Assuming you have money to begin with.
Hire cars cost at least £30 a day don't they? - that would mean around £1200 over 6 weeks. You can buy a decent motor with that and then sell it for similer.
It's the only sensible option I can think of.
EDIT: http://www.carrentals.co.uk might come in handy - prices seem to range from £15-25 in British cities. Still over £800 on average for a 6 week period. I'm not sure if you can get better deals for longer term hires.
Last edited by iMc; 11-02-2006 at 06:06 PM.
HEXUS|iMc
Yeah, that's we he's thinking as well. The only snag is that he would have to get insurance for the first time in his own name as he's had company cars for so long. If the insurance is more than, say, £200 (3rd party fire and theft) then it may not make economic sense.
Where would the best place be to buy a budget car for < £1K?
He does the charity London-Brighton bike run every year, so that's not out of the question! He is a very good cyclist but needs a car for his missus and kids.Originally Posted by J4MES
cycle...
hire? short term lease? both mean not needing your own insurance... or buy a banger for 6 weeks...
i'd hire/lease... it's genna cost more, but if he's used to company cars,and it's important for wife and kids, i'd take a hit - he'll pay more, but will have a new car with no insurance/tax/mot/service worries at all... and won't have to go through the whole buy-insure-(possible fix/mot/tax is it's a banger)-sell process...
Theres plenty of cars with 12 months MOT and tax for £1000 - just check www.autotrader.co.uk - As long as the motor isn't a pure banger selling it should be no trouble. Getting insurance can be done painfree and very quickly online (www.confused.com).
If the insurance will be cheap enough and you can spend a couple of days looking at some cars why waste the money. Unless you have got plenty of course.
At the end of the day it comes down to money versus convienience.
HEXUS|iMc
There's plenty of comfortable, reliable (for the time you want it) serviceable cars go for £100 these days. Just ask around.
get onto ebay, pick up something with 2 months mot and 2 months tax. get something silly, just because you can. pay less than £200. rag it, then take it to a scrappy.
hughlunnon@yahoo.com | I have sigs turned off..
Anyway, thanks for all the suggestions. I discussed it with him today and he was ordered to hire a car by 'the boss' (his wife)! I personally would have bought an old car for under £1K...
£1k doesnt really mean an old car these days - mine is just 6 years old and cost me under a grand (so thus is a reasonably modern, very servicable and reliable car) - its not the only one i've seen at that price either..
his wife is a fool.
hughlunnon@yahoo.com | I have sigs turned off..
she/they ain't...
it'll be new, with insurance, warranty, tax, servicing, recovery, etc. etc. all included... and no buy/sell worries at all... and 'cos its new, it'll be safer, more reliable, will smell less etc...
Its a hire car, ie probably a base model astra, and i doubt it would be any cleaner than something youd just bought, especially as all the uk hire firms my dad has used dont ban smoking in the cars.
Its money completly wasted imo. WHy not spnd the 1200 quid on a car, then his wife could have had it.
^what he said
rentals cares are nice because you don't have to think about all the admin that comes with buying/owning/runnnig/selling a car. I keep thinking about buying a car but have to remind myself that for the amount of time per year I (truthfully) need a car I can easily hire a new(ish) fully backed up car rather than a moving oil-leak
it's why leasing is so popular too - it makes more sense in some cases because of new car depreciation... and maybe his wife didn't need (or have space for) an extra car once they'd got a company one again...
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