Where to draw the line on cost when buying a Cupra R

[Benji]

Im currently saving up for a LCR as some of you will know, but now im starting to think more seriously about the cost.
Initially i was looking at about £8K but that is a huge amount of money! Im starting to get a little nervous about parting with that amount.

The argument is that im 21, have no kids, im single and still living at home.
On the flip side of that, i could be looking to get my own place and just in general start saving for the future.

Just curious as to what peoples thoughts are on here?
I'll need to save around £6K of my own money, and then i should hopefully get around £2K for my current car.

Also, then there's running costs as tax and insurance wont be cheap! Petrol aswell, i'll notice a change from my current £40 a month, but petrol isnt a big issue as i dont do a lot of miles.

 

[JamJay]

For £8k you should get a good low mileage example, around a 2003/2004 registered with around 20 - 30k on it. If you start looking at some higher mileage examples with 30-40k then expect to pay £7 - 7.5k...and 50k then start looking at around the £6500k mark which isn't too bad as lets be honest, that's not high mileage either.

 

[speedsix]

You are living in the best possible scenario so things can only get more expensive if your situation changes. I'd always buy with the consideration of extra mileage, I'd hate to have to sell a car because I couldn't afford it.

I'm not trying to scare you off but imo, the LCR can get very expensive with higher mileage. I do nearly 15k a year in mine and it's starting to sting. Tyres, fuel, insurance and tax are the things which put the LCR above run of the mill cars in terms of expense.

A standard LCR, driven sensibley <10k a year will be very reasonable. A modified LCR driven hard over a higher yearly average mileage will cost, especially if you must have the best rubber/brakes every time/more frequent fully synth oil changes etc. etc.

Brace yourself for ~£250 worth of new rubber on the fronts every ~7k miles in an enthusiastically driven, chipped R.


Blimey, how negative do I sound

The good thing about the R though is if you are feeling the pinch, just stay off boost completely and you'll see very decent economy and it shouldn't cost much more than a regular car.

Problem is, A. this isn't possible B. it's not possible and C. there's no point having a LCR if you do

 

[Benji]

I did think about a TDI but there's no point as i dont justify the miles.
If i do start doing much more though i could trade it in for a diesel i suppose.
Last year (First year of driving) i done approx 6K miles! Nothing at all! So every year i should need to replace the tyres which shouldnt be too much of a problem. All in all it will be expensive, initial cost of buying one and insuring it, tax, petrol, servicing, tyres. This won't be cheap to keep on the road!

Im definately getting one, but i just want to spend a sensible amount for my age and current income.

The thing is though, its tempting to spend £8-9K because i'd get a great one! I need to have my sensible head on though and go for the best value for money, anything below 50K miles is what im after but then is milage really an issue?
2 key things i would want is a full service history and 1 previous owner.

 

[JamJay]

To be honest, buying one with two owners isn't that bad. As long as it's been serviced then it will be fine. I am the 2nd owner of mine and i've done less miles than the guy previous to me. He took great care of it but I have OCD and have made a better job still by servicing every 6k, cleaining the paint work with professional products and keeping it dirt free inside & out (twice a week ). So i'd say all in all, who ever buys mine after I am done with it (maybe quite soon), is getting a better deal than if they purchased it from the original guy...and in today's financial climate they get more £££ in their pocket.

 

[b1nuzz]

When i bought my LCR two years ago, I paid £10k for it. It was a low mileage, well looked after car, one owner, i am now the second.

I am in the same situation as you. Living at home, 22, no kids etc..

I got a personal loan to buy my car and that is my only downfall with it. The costs of running the car is higher than a Corsa, but its a high performance car! The loan that i pay back every month isn't a huge amount, but its a few hundred quid that i could do with!

Think about your job security etc, to make sure you will have the money to pay for it. If you don't have a loan, then this isn't so important but you don't want to get to the stage where you cant afford to put fuel in it.

Most importantly, its an awesome car! as soon as you buy it you will love it!

 

[Dyscontinued]

I never get this 'no point with a TDi as I don't do the mileage'. It's still cheaper. Especially road tax in a year or two when it'll be £400 for the CupraR and still only £125ish for the TDi.

 

[lordgibbness]

Tax on the LCR is £215 this year and £245 next

 

[Dione J]

Im dreading the tax increase :O(

 

[lordgibbness]

Ben, the most expensive things will be brakes, tyres and generally replacing worn out parts as the car gets older. Good new tyres will cost you £200 a pair, brake discs about £250 a set and pads £100 or so, cambelt around £350 and servicing another £300. It can soon add up and it's really the unbudgeted expenses that hurt more than fuel and tax.

 

[Benji]

Yeah the general parts and servicing will be more, and im sure i'll notice it in a big way compared to my 1.6.
It's just one of those things goes without saying when you have a higher performance car i suppose.

I think we're swaying off topic here a bit though, i just want to know what a sensible amount would be to spend. I know only i can give a real judgement, but i think i can ask people on here about the age, milage, previous owner, and general questions like that and relate it to the fact that im only 21 (22 in November, should still be saving then) and think i should have a cut off point, because i could get carried away and spend too much on something that has 1 less owner and say 10k miles less.

JimJay pointed out the general costs for mileage, but is it really that important?
I hear these are strong engines, and if its got a FSH then there wont be a problem?
Also, some engine's take a while to 'break in' dont they?

The main point about this thread is to gain some more knowledge on buying a LCR and try help me get the best possible deal for my money, age and financial state.

 

[lordgibbness]

I'd probably suggest a older 210 LCR as you're likely to get that for a better price in that case. Try looking around the £6-7k mark for a car in good condition. As said above, the number of owners isn't really the biggest factor IMHO.

 

[Ruddmeister]

I'd suggest a property if you can, last month was the first rise in house prices we have seen for a long time. There are some good fixed rate mortgages (if you can get them) and in 5 years time you will have made a bundle.

That said the LCR is a whole lot of fun, but don't under estimate the cost of running the car, it's not just buying the car, factor in a lot for tyres, servicing, insurance etc etc

 

[Benji]

I want a 225

Number of owners is probably just another thing on the sellers list worth noting, but i think the original owner would look after it, also maybe it decreases the chance of wear & tear & also engine abuse?
Saying that, the original owner could be clumsy and careless and drive around like a lunatic, so maybe its a load of nonsense.

£6-7K sounds much nicer than £8 though, i shall haggle wherever i go but if one ticks all the boxes i dont know what i might pay to be honest. I'd like to think £8K is my limit though.

 

[Benji]

I'd suggest a property if you can, last month was the first rise in house prices we have seen for a long time. There are some good fixed rate mortgages (if you can get them) and in 5 years time you will have made a bundle.

That said the LCR is a whole lot of fun, but don't under estimate the cost of running the car, it's not just buying the car, factor in a lot for tyres, servicing, insurance etc etc

Owh...your probably right aswell! lol

 

[Ruddmeister]

Owh...your probably right aswell! lol

Buy to let mortgage, rent the place out, live at home and get a loan for an LCR

 

[lordgibbness]

I wouldn't say that the first owner is necessarily going to care of it any more than a subsequent owner. It's all about the value he places on the car. I don't think either of the first two owners had polished or waxed the car before I had it, for example.

Since owning it I've also refurbed all the wheels and brake calipers and resprayed body panels to make it look its' best. As a third owner (technically the fourth as it was registered to a garage as well) I've only ever run the car on V-Power, where possible, and made subtle improvements on the OEM parts. I haven't skimped during ownership at all.

I think the best thing you could do when buying the car is to meet the owner at his house and when you take the car out for a test drive chat with him about it and you'll get an idea of how he treats it. Also go through the receipts with him and you'll get an idea of the kind of parts he's been buying for it.

Regarding house buying - it's true - this 'recession' is probably the best opportunity for the next 10-15yrs to buy a house, but when I was 21 it was probably the last thing I wanted to do. In actual fact I am now in the midst of a house purchase, but I've had 7 years on you to get to here...

 

[Markyboyt]

I'd say cover yourself for 8K, aim for 7K and have a bit of change left over because if you dont buy it from an SCN obsessive on here, then I can guarantee this place will make you see things that you need to do, plus theres always the risk when buying a new car that theres things that need doing that you dont pick up on beforehand.

Personally I've always got loans for my cars and its a pain in the ass as when you come to want a new one the old one isnt always paid so you have to take a higher loan and the payment going out each month coupled with insurance and running costs.

I remember reading your thread about buying one and know that your plan is to save and buy one outright, which is a bloody good plan because then you only have the running costs to think about (I wont say worry), sure brakes are pricey tyres are pricey and if your right foots heavy then fuel bill could be pricey, but if you enjoy driving then every time you sit behind the wheel none of that will matter, I feel like that and ive only got a cupra, would love an R but I spend too much and save too little so cupra it is and I love driving it.

 

[lordgibbness]

I know people handle money differently, but I always think a loan is a better option (esp. in your situation with the added security of living at home) as it gives you some liquidity rather than your savings account hitting zero. It means that overall you will pay slightly more, but a monthly payment is more suitable for me.