new cars v 2nd hand

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Reidy's Bottle Of Grecian

The Unobstructed View
Has anyone purchased a new car lately ?


just weighing things up and a new car used to be a definate loser, but these days it seems that overall a new one costs less than an 'arl one.

e.g. the mrs has a 206, 1.6 petrol, £230 to tax and she puts (i put) £20 a week in which gets about 100miles (decreasing weekly) the mot is due and it will need work.


alternative..... Fiesta Diesel brand spanking new, does 78 to gallon (55 urban) tax £20, no mot for 3 years.

straight away fuel bill halved, £500 per year but with that mpg it would get used for most journeys of any distance inluding matchday travel so +£500, 210 saved on tax. Mot price.

All of a sudden you have £750 saving, which tbh the finance for the new car isn't that much more for the year. The new one has a guaranteed by back price, if they sell it for more you get the excess knocked off the new new one so building equity. as opposed to.... buy a car for £3000 and after 2 or 3 years it's worth feck all.


I've never even looked at a new motor tbh as keeping them for a couple of years used to be a surefire way of losing money, but it seems that now it's kind of reversed ?


so it's drive round in a 12 y.o. 206 getting crap mpg and worth about £500
or
drive around in a spon newer that costs you not that much more really.

& thats not even considering what it will cost to get it through mot's and other things that go wrong with a 12 y.o. car.



Anyone been faced with this dilema ? what did you do ?

the mrs isn't wanting 'another monthly bill' but cant see that the arl one is costing as much.

the insurance woorks out the same btw, even though 1 car is worth £500 the other £10,000.


It's quite possible that if I went for a petrol one then the monthly payment would only be about £69 a month but fuel saving not as great.
 

Try to get an ex-demo car. They tend to be fully loaded, low mileage and a damn sight cheaper than a brand new motor.

This Reidy - do this.

I wish i had!

My car is ok now (touch wood) but this is the route I should have gone.

The thing with 2nd hands is you just go off what the seller tells you (and a few bits of paper). If it's a private seller then why do they want rid of it? If it's a dealer they won't tell you everything that's wrong.

I've leanred all this very recently!
 

You don't get the guaranteed buy back though, and there are some sponners that are cheaper than the demo's.

The theory is that after 2 years you can get another new one, payments stay about the same, and cos of the extra you get back it puts equity into the car.
 
You don't get the guaranteed buy back though, and there are some sponners that are cheaper than the demo's.

The theory is that after 2 years you can get another new one, payments stay about the same, and cos of the extra you get back it puts equity into the car.

Just get a Ferrari Daytona Spyder, not only will you get your money back you'll make a bob or two on top.
 
just had a call from peoples ford.

1.25 petrol fiesta, with 500part ex and put 2500 down, finance over 3 years £83p.m. over 2 years £57p.m. , cheaper but you have less equity after the years. The diesel is £2500 more to buy so given the mileage she does wouldn't work out better fdor us despite 75mpg.

At £57 a month (disregarding the 2500 deposit as that will be in there as equity) it is quite possibly costing less than the 12 y.o. 206.
 
I seem to remember that you are self employed Reidy, like me, so due to our ability to, *ahem*, do our own accounts, so to speak, some finance offers are not available to us. I looked at leasing, but thought it was a total scam, and did not want to use capital to buy an expensive car, new or second hand. I have a pal in the trade, and I buy a high mileage, well turned out model, for £500-£800 pounds, that I hope will last for a year/18 months before blowing up. Seems to work!

£500 for a Passat; got 35000 miles out of it; about 18 months, now a Peugeot, £600, had it for over a year, and runs like a dream.

Works out at about £30 per month, with breakdown cover @ £7 pm from Asda for the inevitable blown engine. And tax deductable.
 
£57 a month? Bloody hell.

My missus got a brand new Peugeot 307 and 3 year ins & servicing and warranty for £222 a month
 

I seem to remember that you are self employed Reidy, like me, so due to our ability to, *ahem*, do our own accounts, so to speak, some finance offers are not available to us. I looked at leasing, but thought it was a total scam, and did not want to use capital to buy an expensive car, new or second hand. I have a pal in the trade, and I buy a high mileage, well turned out model, for £500-£800 pounds, that I hope will last for a year/18 months before blowing up. Seems to work!

£500 for a Passat; got 35000 miles out of it; about 18 months, now a Peugeot, £600, had it for over a year, and runs like a dream.

Works out at about £30 per month, with breakdown cover @ £7 pm from Asda for the inevitable blown engine. And tax deductable.


accountant said if I put it through my books it would all go back as for personal use as no way could I be doing my job , carting tools and locks about in a 1.2 fiesta (diesel van type maybe).
Don't know about the credit thing ? The ability to pay back £57 a month won't even be questioned I don't think as I am a homeowner with about £90,000 equity in the house, plus the fact that I am putting £3000 in so if they repo it I lose that. They do take into account if you get tax credits and stuff these days as well, as it is part of your 'income.'
I may be in for a shock and get turned down like, but I have a good credit rating, no other debts apart from mortgage.
 
£57 a month? Bloody hell.

My missus got a brand new Peugeot 307 and 3 year ins & servicing and warranty for £222 a month

it all depends how it's "bought"

hp is expensive, but these plp or something deals aren't, they can finance it to suit you, it's when the term is up that the figures will differ, you can
  • hand it back and walk away
  • trade it in for another, you get a guaranteed price now (marked down) and when you go back they work out the book price, pay off the finance and the money left over comes off your next one.
  • you can retain the vehicle and pay it off/ refinance it (prob cost more than another new one).
you can go back at any time as well, so if in 12 months there is a deal you fancy then you can do the trade thing then.

1st up he said £79 a month, then another dealer said £57 so he looked at it again and said they would match it, it's all to do with how much finance would be left to pay against the resale value, this is where the deposit means the finance is for less. He did say as well that you get a far better deal on a 2 year one than a 3. I've no doubt that at some stage you take a hit, like when they change the shape, but that would be the case if you was buying one outright, even a 2nd hand newish one (which would actually be far more expensive than a new one).
The way it is going as well, with derv now 10p dearer a litre than petrol, if that gap keeps escalating then it would be the diesel buyers (2500 more expensive at the outset) that would take the hit. I doubt you could chance a tub of red given that it will be going back to them.
My only concern is that it is very underpowered compared to the oilburner.
 
I think the Jeep has had its day, loads of £80 each probs at the moment & costs a fortune to run due to LPG doubling in price since I got it. It's Group 16 Insurance (£60 per month) I put about £35 a week in to do not many miles as it only does 12.7mpg Urban. I find that now I only use it for work due to cost. When I add up the cost of all the jobs that need to be done like tyres, new battery, tax at end of next month etc etc then it aint worth the hassle/cost.

I've been looking at Focus Estates (Diesel), not new like, Insurance Group 6 and 49.7mpg Urban then I'm as well changing as it'll be paid off with the savings in next to no time 70.7 mpg on a run 60.1combined.

Gonna see what I can get for the jeep as I'll need to spend in the next 2 months about 500/600 just to keep it running and thats not even doing all of the jobs.

so with that in mind, and about another cpl hundredish saved on fuel and insurance it doesnt make sense to keep the jeep. I may even scrap the jeep, or break it on ebay to get a bit more back as i know I can get quids for parts that I've had to replace and I have somewhere to put it whilst i do that.


cars are a pain in the trumphole.

and theres still an R32 Skyline sat up the path that needs to be gone ffs.
 
I think the Jeep has had its day, loads of £80 each probs at the moment & costs a fortune to run due to LPG doubling in price since I got it. It's Group 16 Insurance (£60 per month) I put about £35 a week in to do not many miles as it only does 12.7mpg Urban. I find that now I only use it for work due to cost. When I add up the cost of all the jobs that need to be done like tyres, new battery, tax at end of next month etc etc then it aint worth the hassle/cost.

I've been looking at Focus Estates (Diesel), not new like, Insurance Group 6 and 49.7mpg Urban then I'm as well changing as it'll be paid off with the savings in next to no time 70.7 mpg on a run 60.1combined.

Gonna see what I can get for the jeep as I'll need to spend in the next 2 months about 500/600 just to keep it running and thats not even doing all of the jobs.

so with that in mind, and about another cpl hundredish saved on fuel and insurance it doesnt make sense to keep the jeep. I may even scrap the jeep, or break it on ebay to get a bit more back as i know I can get quids for parts that I've had to replace and I have somewhere to put it whilst i do that.


cars are a pain in the trumphole.

and theres still an R32 Skyline sat up the path that needs to be gone ffs.

what skyline ??? Nissan ???
 

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