After 20 years of company cars my employer is pulling the plug and giving me a monthly allowance instead. As I do 20-25K a year, mostly private miles, this won't let me run a nice new Volvo as I've been doing. My Volvo is 3 years old, has done 75,000 miles. Nothing's gone wrong with it apart from headlight bulbs and a mirror that didn't heat up any more.
Its the previous model, Classic with loas dof extars as the run out model. 140 bhp.
The leasing company want about £9500 for it.
Good buy? Likley to continue to be reliable?
What else could I get for the money that will do my miles? I've been looking at secondhand deisels to reduce my fuel cost. Not found anything yet I like driving as much as the Volvo. It gives 31 to the gallon overall which is tolerable.
Any bright thoughts anyone?????
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What model is it ? Do you need a similar size/type of car ?
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Autobytel.co.uk values your car at £4500 if it's a saloon and £6500 if it's an estate. They're low figures but should translate to £6500 and £10,000 retail at most, so £9500 is a lot for the lease company to ask for a 3 year old Volvo V70 with 75k and hilarious money for the saloon.
I was going to suggest a diesel S80 but no one seems to buy them for doing less than 30k a year in, or if they do they don't sell them. In the sub £10,000 bracket I'd probably be looking at Audi A4/A6s, new shape Mondeos, Saab 9-5s, Volvo S80s, Omegas and Passats. Any of those gets a big premium as an estate, which I wouldn't suggest you pay unless you really need it. If you don't need the space, something smaller but prestigious, like a new 3 series or A4, would be a better choice.
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Sorry, I should have said the model. Its V70 140 bhp Classic.
I don't need anything this big - got it when I had a disabled person and all their clobber to lug about. I juts like the way it gobbles up the miles in comfort, and is suprisingly nice to drive. I wouldn't want to go below Mondeo/Accord size as wouldn't feel safe on busy motorways with heavy trucks everywhere.
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I know you say its 3 yrs old but does it have any of the lease left, eg 1 yr of a 4 year.
Reason I ask is that sometimes leasing companies come up with odd figures if there is time to run.
Having said that every time I've asked one what they want for one of my old cars afraid I've just ended up laughing down the phone. Very rude I know but really.
Why not make them an offer based on a possible auction price? Nothing to lose as long as you are realistic.
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Flat in Fifth asked:
I know you say its 3 yrs old but does it have any of the lease left, eg 1 yr of a 4 year.
and DavisHM makes a simlar point.
I agree! The lease of 3 years is up pretty soon, and that was an estimated figure based on the lease being finished. They certainly don't give them away. Friend's who've got quotes find them in the "fair" part of retail so the leasing co obviously know its worth more to the driver than to anyone else. People who've tried negotiating have been just stonewalled. Worth a try though - especially if I just keep driving it and see what they do. More prssure on them and my employer to get me out of it then.....
New 3 series and A4 are nice - though not cheap. Skoda Octavia is not bad either - diesel not quite up to the new commo rail sorts and a bit noisy - though not sure if I can bring myself to get one.
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You could do a lot worse than let it go back to them and buy it at auction. Depending on the lease company, it may turn up at a BCA auction (and they tend to turn up pretty soon) in which case you can keep an eye out for it using the BCA website.
PB.
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Good point - risk of course of not finding it but if not too bothered either way then not a huge loss either. I remember when they took my old Mondeo away - I was sitting in the canteen and watched it being loaded onto a transporter and taken away. The transporter was from a car disposal company, from Cardiff or Bristol if I remember rightly.
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