Can you buy and maintain a used car for 5% of the payments? (Cheap VW Golf)
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- Опубліковано 18 лис 2023
- New car prices keep rising and car payments keep getting more expensive. Used cars are quickly following this trend, but with reports of the prices soon to plummet and car dealers going broke, it may be time to buy a cheap used car. We take on the challenge of buying and running a used VW Golf for less than 5 monthly lease/finance payments. Over these five months, a new Volkswagen cost would have cost over £1,500 to lease or finance. However, we need to tax MOT and maintain our used car, stretching our 5% budget. If we do it though then every day after five months our used VW Golf is free, we try our best and do everything we can to keep the price down.
New Volkswagen Golf vs Used Volkswagen Golf challenge with the twist of payments vs outright ownership. A cheap used car can be a broken disaster or cheap motoring, we find out if we can do this.
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The other thing to mention is that with a £1000 car you can park it wherever you want and not worry about it. A brand new car most people would worry about it in car parks and being left in town / city centres.
Also, when mentioning costs let's not forget, with a brand new car you only lose money, with this you could probably sell it for the same as you bought it for so yeah, it's literally free.
The thing is, once you realise this it's impossible to justify spending what is essentially the same amount as a mortgage each month on a shiny drive ornament.
Yeah that first part about parking wherever you want is so refreshing after owning a car you really cared about 😁
I might look at a follow up video to see what I can sell the car for so it’s a complete journey from buying, driving, and selling to see how close I can get to the total outlay of 5 months ownership 👍
@@themilesdriven I think you should. Hopefully then more people will realise the value of owning older cars and stop getting new cars on PCP and constantly pushing up the prices.
I had no idea that generation Golf was this old.😯 This is a really fun (and nerve-racking for you) video!
Yeah really enjoyed making this video (apart from the car bidding 😅)