Worthwhile buying a new car, or keep with second hand

Whats_my_age_again

Hi there,

I commute to work (100 round trip) currently in a 2000 Peugeot 306 2.0 HDi. The car is in good condition at present but just wondering on your thoughts on whether next year the way to go will be a new car, and trade in current car before miles on clocks goes up too far (currently 55000). Do the benefits of a new car (warranty, more efficient engine) outweigh the costs (high depreciation), and is this less of a factor if you can strike a 0% finance deal. Also what is the best time of the year to purchase a new car - when are the deals likely to be, is it when plates change? I would like to be able to budget and plan ahead.

Thanks for taking time to read this, Couttsy

BenL

Is it a 100 miles a day round trip??

If your 306 is in good nick you may as well keep hold as a new car getting the miles racked up will lose loads of money where as your 306 has taken the biggest hit already.

Mileage gets less important as the car gets older, keep it well serviced and look after it and it will serve you well.

The time to chnage is difficult, usually recommended to do it in winter when delaers are shifting less or around xmas for a good discount. They may try to lower the part ex on your car but this should be the best time to buy for cost to change value.

The best time is coming up right now, World Cup. Everyone is inside or at the pub watching games so not many cars will be sold for the next month or so.

Dixon Motors etc are advertising on tv at the moment world cup special offers.

Ben

tomstickland

Trading in for a new car just makes you ride the depreciation curve over again. Guess what, your new car will be worth about half what you paid for it in 3 years. Stick with what you've got is my advice.

rsvtoddy

55000 on a diesel 306 is just barely run in! It should do well over 3 times that without major problems - just ensure oil changes and services are done without fail Also make absolutely sure the cambelt is changed at least as often as recommended.

My 306td did 100k+ and the engine was perfect - just the electrics that were a problem, but what do you expect from the French!

Run it for a couple of years yet and it shouldn't cost much at all, unlike a new one.

Mark

DealDrivers_company_representative

There's a very good section on our own website (buying tips page) about the good times during the year to buy a new car.....as a rule of thumb here's some guidance:

Generally the 1st and 3rd calendar quarters are best as manuf'rs are vying for position against each other to 'claim' the most reg'ns on the new plates on 1st Mar and 1st Sep. Unusually, this year there have been some very good deals in quarter 2 as some manuf'rs have needed to shift stock before the end of June (last years 2nd quarter was terrible for bonuses!) so we've had a good few eeks recently.

Most manuf'rs put bonuses in for a whole quarter (12 weeks) so to be sure of getting a car in time to guarantee a bonus you need to order in the 1st month of a quarter so there's time for it to be built before the deal expires.

A lot of folk get caught out ordering towards the end of a quarter then finding out their price has changed when the manuf'r has removed a bonus by the time the car is ready for handover.

Conversely, dealers get nervous if they are short of some sales to hit their target in the last 2 weeks of a quarter also.....we're just starting to get some batch deals in for registration by 30th June to prove the point!

The end of Dec' is also good...but weigh up the potential reduction in used-sale value of a car registered in a calendar year just before a new year starts.

Hope this helps.

highguyuk

For more information on your Peugeot, Tips on maintainance etc have a look at https://www.pug306.net. Fantastic site, highly recommended.

306 - Can't beat 'em