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Discussion Starter #1
Hi,
Depending on how things go with Fiat, there is a possibility of me taking over the lease on a Spider Le 2.2.
Although £310 a month is v cheap for the car, it is also the same price as getting a 5 year loan for lots of other things (s2000, boxster, 3.0 z4) or a 2/3 year loan for something older and cooler (porsche 944, bmw 635csi), and I may get some money back for them after. I am a massive Alfa fan having already had 2, but I am very stuck for what to do as the Spider is slower and probably less economical than most of the above. I dont want to just be seduced by the looks (which I am, big time!).
I know that we are all Alfa fans or it would be daft to be members of the site, but any honest opinions would be v helpful.
Thanks!
 

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Bear in mind that the £310 a month includes road tax and warranty!

It wouldn't take much to go wrong with one of your older, cooler selection to wrong and you'd be VERY sorry you ever bought one.

I kind of wish I'd bought a 4 year old Z4 3.0 as I am a bit of a speed freak and the Spider LE is awfully slow. If you don't rip around at 90+ a lot though, or regularly actually use the better acceleration of something like the Z4, do yourself a favour and go LE.

I reckoned on spending £15k on a Z4. Taking that money out of the bank would cost me about £750 a year. Add £200ish for road tax and that's a grand gone.

Now reckon on £3k depreciation a year and already the LE is comfortably cheaper.

That's before you encounter unexpected repair bills with your older car.

The LE with heated/memory seats and Blue+Me really is a bargain at £310 a month.

I guess finally - none of the cars you've listed will get as many admiring looks. Like a lot of people on here, I've owned much more expensive, faster and supposedly flasher cars, but none have ever had a tenth as many comments as my LE!

I'm not saying getting attention/approval is a good reason for buying one - more that humans (including you) just can't seem to get enough of the looks.........
 

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Sounds like TeesSpider is very good with their money and considered a lot - Someone has bought am Alfa with head and heart!

£310/month is a great deal when you consider above and then youwill have option to purchase I assume (?) and therefore possibly bag a good deal for yourself?
 

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Teesider has summed it up pretty well - but if you add in £30 a month for the maint package including tyres etc then you are onto a real winner.

I looked at just about everything you have mentioned as well as a few you didnt (VX220 / TT / 3 series cab / A4 even an MX5 - sad I know) the spider is by far the best bet of all of them - i dont regret buying an LE for a second.

I have only ever seen one other spider and that was on Weds so they are pretty rare compared to the others.

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I too have considered many of the other cars mentioned above. I am truly glad i chose the LE. I have had many performance cars in my time but none have had the looks and compliments the spider has.

I generally change my car every 5-6 months. I've had the spider for 3 months so far and honestly can't see me changing it any time soon.

If outright performance isn't an issue (performance of the LE is not that bad really) then i would say go for it. For the money theres not another car that can touch it.

All IMO of course!
 

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Hi Iain,

Did you know there are still a few LE's with delivery miles still available?

Platts and Meridian Milano have white, black and red respectively.

I bought mine with a loan from Tesco. Repayments are £295.00 over 10years with only a 1 month charge for early repayment! So obviously I'm not gonna carry on paying for ten years.

The residual prices of Spiders are holding well (not far behind Brera, which was voted no1 car in UK for residual values).

So hopefully the residuals will stay high and when the new spider facelift model comes out in approx 2/3 years sell privately with little loss pay off loan and start procedure all over again.

ps I am self employed so effectively costing me zero anyway, but I thought this might help
 

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I thought all the lease cars had gone.

DF in cardiff have a couple for sale though
The special lease deals are not avilable any more but there are Spider LEs to be had out there on different terms.
 

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Discussion Starter #10
The only reason I could possibly afford it is that I would be taking the lease deal and car off of somebody else who no longer wants the car, subject to Fiat agreeing to do so. The car would still be registered to Fiat group, it would just be somebody else paying the £310 a month to them so hopefully it wouldn't be a problem
 

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Why get an LE ...

erm ...

1. it looks amazing
2. I hear the lease deal is pretty good (I bought mine and I'm financing it over 5 years)
3. it looks amazing
4. the performance isn't great but it's more of a posy cruiser than a sportscar ... what soft tops should be about really
5. the fuel economy isn't 'too bad' if you drive sensibly ... I'm averaging about 29mpg on my commute
6. did I say how great it looks on the 19's ?
 

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I think the £310/month lease deal is better than bvlgariski's £295/month (10 year :eek:) purchase deal.

After 3 years the Spider is going to have lost way more than £11160 of its value and as the lesee you will get first shout to purchase, and hopefully get a good deal. Even better for you as you will not be taking on the full 3 year term.

While Bvlgariski will have lost more in depreciation than they have paid towards loan repayments.

Go for it and enjoy :)
 

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Yes - be VERY careful about depreciation when you contemplate the £295 a month idea!!

Assuming you borrowed £25k - let's assume that in 2 years (out of 10) you would have paid off £5k of the 20 (although you would have given Tesco £7k!)

You would definitely NOT have a car worth the £20k you still owed.

One happy LE PCH customer on here had to sell his 2k miles Spider 2.2 JTS with a lot of kit (cost £28k a year ago) for low £19's

In other words, it's perfectly possible to lose MORE than the total amount you'd pay to Fiat finance over the time you have the car in ONE year.

Throw in the £400 you don't have to spend on road tax and taking over the lease from the guy who's offering it on these boards is a screaming no-brainer - especially since he had to pay 3 months up front (and you won't).

If you take the final 32 months of his contract x £310, that's £9920

No way will the car lose less than that over the next 32 months - and that's before you even start thinking about debt interest.

I'd never financed a car before my 2 year LE on PCH - always bought cash. I guess maybe I learned a lesson from my primary car losing about £55k in 2 years!

Make depreciation someone else's problem (oh and avoid the hassles of selling it at the end - ads don't come free either and trade-in's usually induce tears) and know how much your ownership experience is going to cost you from day 1.........

(P.S. I don't work for Fiat Auto Contracts or in finance!!!!)
 

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Iain,

As a veteran of contract hire just let me give a few pointers:

i) You will not get a good deal at the end of the contract:

If you want to buy, it will be at the going market rate and not a penny less. The finance company will also have debt interest calculated into their figures therefore YOU will not get a good deal. These figures are usually calculated at rates of interest significantly higher than standard loans.

When you come to return the vehicle wait for the big HIT when the inspector views your vehicle at point of return. Charges for scratches, bumps, stone chips any damage however small will be charged to you (this is how they make there money on what looks like a fantastic deal at the outset)

Then there's the mileage. Apparently the average UK motorist does 14k miles per year. I pressume the contracts are taken out on the standard 10k or even less if its pch and not ch.

This equates to 12k over approx 3 years at usually 8-10p per mile and hey up thats another grand you have to give them.

Then theres your circumstances. If these change and heaven forbid you can no longer afford the repayments you are stuck with the contract. Then you are in the same position as the other individual in having a contract that they no longer want or cannot afford.And believe me no-one will want to take over a contract 12 months down the line paying £310 per month on a 18 month old car!

If you take a look at residual values on the spider and again choose wisely you will not be as bad off as previous members have recorded. Remember this is a 25k car with over 3k of kit extra. Not a 28k car!
 

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The PCH gives 12k miles a year and 7p a mile excess.

Worst case (i.e. if you "accidentally" did 14k miles a year) that would mean £420 extra over 3 years.

Have a look on Autotrader and see what the cheapest 1 year old Spider is selling for (with more extras than the LE brings).

It's £18k - already £7k down on the new price.

I know I'm not going to lose £7k!

My PCH is costing £8294 TOTAL for 2 years (and that includes the road tax).

I don't care how much the car costs to buy then - I wouldn't dream of buying it!

I'll just sign up for another new car - probably something different as I get bored easily - and of course have all the benefits of a warranty, free RAC/AA etc.

I'd bet a lot of money than no Spider LE will be fetching £17k in 2010 when my PCH finishes.

Even if it was, I'd still have done the right thing as borrowing £25k would have cost me at least £2.5k

If you want to own a car for years and years - buy one a year old.

If you like change - PCH - simple........

Best option at the moment as Alfa have pulled the good stuff is from Lingscars dot com, but you won't get an LE of course.
 

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Hi Iain,

Oh to have the money of a king. Why dont people on here just give an individual good honest advice.

As you have stated you have'nt got the money as some members seem to have and there seems to be a ignorance of this.

If you care to have a look on autotrader the average price of a 12 month old 2.2 JTS without 3K of extras is £21500 not the figures as previously advised.

Good luck and I hope I've given you some help.

Ps I HAD AN AUDI PREVIOUS TO MY SPIDER AND DANE AUDI IN CHESTER HAVE JUST SENT ME A FLYER WITH AN AUDI A8 EX DEMONSTRATOR ONLY 3 MONTHS OLD AT £14,800 OFF THE LIST PRICE:)

GET THE MESSAGE

cheers mate
 

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CORRECTION:

Sorry - I was wrong about that ONE year old Spider on Autotrader. It's actually listed for £17,250

Of course the seller may not get that for it. That's the risk you run buying a car..........

I just LOVE the security of knowing how much I'm losing/spending up front (oh - and changing every 2 years).

Here's a bet.

Call 5 Spider sellers advertising their cars for £21.5k and see how long it takes you to get someone to accept a cash offer of £19k..........

I'm not knocking Bvulgariski for being a bit riski though - I've bought enough cars and lost enough money to have learned a tough lesson.

No one on here can show you numbers over 2/3 years that suggest £310 a month is anything other than a great deal.
 

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Gold chains, the best barbecue on the fake georgian manor, trophy wife and the Nokia ring tone

Oh cant wait till I do 130 in my spider

The real world, what a wonderful world it is
 
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