Buying a car - haggle or new - what would you do?

jaype

Okay, so we have decided to buy a diesel 110 Peugeot 308 SW - not everyone's cup of tea but very practical for us (small but fits multiple car seats etc) and we like the way it drives.

However, we have a dilemma about how to buy. The local dealer has a year old model with 14k on the clock for £14,999 (new list price is just over 20k). Benchmarking this I have seen most similar cars for around 13.5k so it's a bit steep.

Online, buyacar has a second registered keeper one that's 'new' for £16,400.

BUT: We can only put 6k down, plus trade in value of our old 206. The Peugeot garage offers 7.9% APR on the loan - quite good - and 2k trade in. I could get a few hundred extra selling the old car privately but it needs new brakes soon (highlighted by MOT) and any RAC inspection would show this up so I doubt we'd gain much.

Private loan for the online deal would be around 8.5% APR.

What would you do? Haggle on the second hand one or buy (almost) new? Cheers!

terryya

Just looking on drivethedeal you can get brand new, dealing with a UK main dealer, for £13,618 for the S. Looking at your book price of just over 20k it'd seem more likely that you're going for SE (£16,075). SR is £14,086 and Sport is £14,788.

Not sure if it helps answer your question or not though!

Other similar brokers may have better prices.

jaype

Yes - we are going for the SE as it comes with extra fold-down seats as standard, something we need. That's the best internet price for that model.

Hintza

Don't want to rain on your parade too much but.......This was the price in June:-

Peugeot 308 Hatch 1.6 HDi 110 SE 5dr [6] £14,727 Saving £4,114 via drivethedeal.

http://www.honestjohn.co.uk/best_deals/item.htm?id=6418

You need Adrian here to give you the details on depreciation on these cars. But I think if I could afford it then I would be tempted with new if the deal was right.

PS Start your homework now and see what you can get one for in December by playing dealers off each other as they fight for end of year bonuses.

jaype

Thankfully the honestjohn link is for the hatch, not the estate so I don't feel so bad! I've been avoiding looking at how much they cost earlier in the year...

The dealer knows we were keen but I have left it a week since we last went there to keep him on his toes.

Must have a look at the depreciation - good point and thanks.

jaype

Hmm. New (yet discounted) car would lose 7-8k over three or four years, yet the second hand one would lose 4.5k. Looks like it's time to haggle on the nearly new one.