Is now the time to buy a new car?

Hintza

thescouselander wrote: »

Surely you are making a lot of assumptions about the OP's financial position here. They might be in a position where they do not need to worry about losing their job.

Also, if everyone decided not to spend their money the economy will be completely stuffed and recovery might never come about.

I very well maybe but "bank of mum and dad" and "it will push our finances" gives it away that yjey maybe not in the strongest financial position. Did you read the original post?

You are quite right if nobody spent a thing the economy would be really stuffed. I personally feel that we are in a very very serious position and that even those who think they are in secure financial situations could very well be for a rude wake up.

My advice is to stick with what you have keep as much money in reserve until the economic picture becomes clearer.

onlyroz

My financial position is secure, but I'm going on maternity leave in January so things will be tight financially for about a year, until my eldest starts school (double nursery fees for the second-half of next year - ouch). Then things should be OK again. Hence why I'd prefer to wait a year, but if the opportunity for a real bargain cropped up (and it was an opportunity that would not exist if I waited) then I'd consider buying sooner.

I also believe that my job is secure, although I accept that nothing is certain in the current climate.

Hintza

onlyroz wrote: »

My financial position is secure, but I'm going on maternity leave in January so things will be tight financially for about a year, until my eldest starts school (double nursery fees for the second-half of next year - ouch). Then things should be OK again. Hence why I'd prefer to wait a year, but if the opportunity for a real bargain cropped up (and it was an opportunity that would not exist if I waited) then I'd consider buying sooner.

I also believe that my job is secure, although I accept that nothing is certain in the current climate.

Good for you Roz.

I just remember when the electricity used to go off every second day in the 70's and when I got made redundant in 1990 from my "secure" job. I now work for myself and it is tough out there (hence too much time to be posting on MSE) I don't know how old some of the posters are on here but I suspect many have never experienced a full economic cycle yet. The position this time could be much worse with the amount spent on social issues and this global warming fad (30 years ago we were heading for an Ice Age according to the "experts"!!

thescouselander

I think Hintza has some good points - I dont think the economy is going to improve in any short order either. Maybe you should wait, deals will still be around in 12 months.

DealDrivers_company_representative

Ford already have a confirmed price increase on 1st Dec on all their car range (even new shape Fiesta). The SMax list prices will be going up by £400 (exc the 2.2 TDCI which only goes up by £100). Unless you order now, you'll be bitten by that.

Citroen have already confirmed they will be having list price increases on their cars for any not registered/delivered by 4th January..the figures are yet to be released.

Don't forget production prices are going up for mfrs...not coming down, they are reducing production and stock to balance things out.

Ford dealers last week were given bonuses to use to help shift any remaining unsold models which were built prior 31st July this year..on Smax they have an additional £1500 on top of dealer discounts to use on any pre 31st July-build unsold stock (exc' the Edge derivative)

It is now..at the end of the year they need the sales as stock is high....by next year they'll have balanced out production with lower demand so the desperation to move unsold stock may not even exist in the numbers it is being seen in between Oct-Dec..right now.

steveeeee

I've been wondering about this too. When we get our Icesave savings back, we're planning to pick up a second-hand Suzuki Swift or Toyota Yaris to replace my old Polo. Given the government's taxing strategy on cars with high CO2 emissions, smaller cars with smaller engines are holding their value really well. But I was hoping that the bottom falling out of the new car market might be having a similar effect on the used car market. Looks like we may be missing the boat though.