Still agonizing on car

Still weighing up my options on the next car.

What isn't helping at the moment is conflicting reviews. Some people hate the new Lexus, others think it's ok. I suspect it's a bit of a marmite car. Either that, or the quality coming out of the factory is not consistent. This is what scares me at the moment - I've previously bought used cars, which has good and bad side :

Good side to buying used :
You can thoroughly check out the car. Most Gremlins get bored quickly and surface early. If a car has Gremlins, they will usually start messin' with your mind quite quick. Buying used means you are test driving the car you would eventually buy. If it has specific quirks, you can walk away. If it's rough or otherwise coming apart at the seams, walk away.


Bad side to used :
Mechanical stuff wears out. Get a used turbo car and you should expect major bills to come on that turbo at some point. Same for the rest of the car. The best time to own anything is when it's shiny & new.
With a new car, the car you get is not the demonstrator, it has come over from the factory. You get the best years out of the car but you're also at risk if the factory puts in the Gremlins.

Lexus have a stormin' reputation but that inconsistency of reviews is a bit of a concern. There's also inconsistency in the performance shown in tests, with figures going from below 10 secs to 60 to 12 seconds. That's a fairly sizable margin that makes you wonder what the testers were getting up to. A hybrid car will only give maximum performance when there's juice in the battery, so if they've drained the battery before doing their 0 to 60, of course it won't be particularly brilliant. Similarly, if the battery pack is on a par with a Red Bull F1* car (their KERS hasn't lasted a race yet), that's seriously bad news for a hybrid.

*Let's just say the Infiniti hybrid (Red Bull's partner) is off the menu. Ok, it never got on the menu cos it's out of my price league but there you go.

I'm thinking again about the cheaper options - Honda's CR-Z and the Toyota Prius. Gotta be honest, I've not actually sat in a Prius to check it out properly. Maybe the Lexus has been rushed to market a little too quickly.

Another car thing that's melting my brain at the moment is finance.

There's a scheme called Personal Contract Purchase, which is something I'll likely go for. It works by deferring some of the payment to the end, as a Guaranteed Future Value (GFV). The GFV is what the car is expected to be worth after the period of the contract.
Start - car cost £25k.
Take a deposit off that - £5k - leaves £20k remainder
Set a Guaranteed Future Value - £10k
£20k - £10k leaves £10k to come from a loan.
The usual APR is 9.9%, making that £10k over 3 years cost £330 per month (35 payments) for a total of £11,554.

After the 3 years, you have the option to pay the GFV to buy your car, or you can hand it back, or you can say "ta muchly, same again please". Where my brain is melting is the difference between calculated loan and what they quote - for the Lexus, there's almost £3000 getting added in somewhere. With the Prius10, the offer quotes £429 per month with £15k of the £26k purchase price being outside the loan. If I work it out, that £429 should be £351.

I must be missing something ... Need those finance details spelled out in small words.

Simple rule - if you don't understand completely what you're being offered with finance, walk away. That goes for all those things where someone is trying to sell you something you either don't need (payment protection insurance) or have no real world purpose (warranties).

Depending on what happens on Saturday with the car service, I should have time to make up my mind :-) Maybe something better is just around the corner ...

Oh - only 2 (maybe 2.5) working days left until an extended break. Definitely feeling the need for it, especially judging by me having trouble getting my MathBoy Brain around that finance stuff ...