How much did you spend on your car

Skulls

For Worried Jim
Yes I did a lot of research and went about 4 times to look at the same model. The reason I chose the one I did was that is was exactly what I wanted and was taxed till the end of year. So when I picked it up all I had to do was phone the insurance co and I was insured to drive it home.
The car was a Citroen C1 Rhythm 5 dr 2007 model.

I've already done the research for my next car and it will be an Audi A3 converible 1.6 Tdi. £30/year tax and 4 mpg more than the Citroen=65mpg by the book, so going by the Citroen figure I should get 66-67mpg and a bit of fun! Because this model is only 2 years old, I will not buy for at least 12 months it should then only be about 45% of the original price.

cyclonebri1

LandyAndy wrote: »

Do you remember AdrianHi?

He had done some detailed analysis of running costs for various cars that he was thinking of buying. He concluded that buying new could be cheaper if you looked at all the numbers rather than blindly parroting 'buying new is a mug's game'.

Also, my wife needs a reliable car. An unreliable car doesn't have to let you down very often at £500 a day to lose you a lot of money, and that's before you factor in loss of client goodwill.

"As for using finance to buy a car, or anything else", being wrong; that is just nonsense.

I do remember AdrianH. Never agreed with anything he said.

If you Andy, or anyone else for that matter can explain to me how the lose when driving off the forecourt, (with name in logbook), can ever be recovered, then I will prostrate may ardce for all to see, and I know you don't want that?

With no desrespect, I totally disagreed with his hypothetical savings and spending rational.

Pray tell me how buying a new car and losing 30% of your capital can beat buying the same car at a day/week/month old and saving that 30%??

If there is an excuse/reason other than than snobery/the Jones, then it still escapes me


The issue of using finance to buy a car or anything else is world apart from this topic, I didn't say that, I did inferr that borrowing to buy a car. just a car, should be the last resort for any clued up MSE'r,

catflea

Ultimately, I think that site is about saving money on the things you want and need. If you want a brand spanking new Audi, fine just make sure you go out and get a good deal on it and accept that when you drive it off the forecourt you've lost £1000s.

If you are less concerned about what you are driving then theres a perfectly legitimate reason for the bangernomics approach (which is my preference as a rule) I firmly believe that it works out cheaper but it does carry a degree more risk if you are less than confident with what you are buying.

Of course, there are many and varied combinations in between as people have different wants, needs, and priorities none are invalid but all carry potential financial pitfalls and as long as you are aware whats the problem?

As has already been said, the car thats new now is the bangernomicsmobile in 10 years time, so if no-one bought new the whole system would grind to a halt.

Strider590

catflea wrote: »

As has already been said, the car thats new now is the bangernomicsmobile in 10 years time, so if no-one bought new the whole system would grind to a halt.

Exactly, so leave them to it

For as much as blind stupidity annoys me, it does bring about advantages to us savy money savers

catflea

I disagree, buying new is not nessecarily stupid. It depends what your needs and wants are for your new vehicle. As long as you enter into it knowing that the financial penalties at that end of the scale are greater than at the other end.

I've already said earlier in the thread that I intend on buying a new motorbike when the time comes, because it will be my first bike and I don't know a huge amount about them, I want to know that I have the reliability, that a mechanical fault isn't going to pitch me off it and into a truck going the other way, to have dealer support and know that its been properly maintained through its life. The bike lists at £2.5k and it should hold its value relatively well but I accept there will be the depreciation. Would you say that its blind stupidity to buy new rather than 2 years old for about £700 less? that £700 is well worth the peace of mind for me.

bclark

catflea wrote: »

Ultimately, I think that site is about saving money on the things you want and need. If you want a brand spanking new Audi, fine just make sure you go out and get a good deal on it and accept that when you drive it off the forecourt you've lost £1000s.

If you are less concerned about what you are driving then theres a perfectly legitimate reason for the bangernomics approach (which is my preference as a rule) I firmly believe that it works out cheaper but it does carry a degree more risk if you are less than confident with what you are buying.

Of course, there are many and varied combinations in between as people have different wants, needs, and priorities none are invalid but all carry potential financial pitfalls and as long as you are aware whats the problem?

As has already been said, the car thats new now is the bangernomicsmobile in 10 years time, so if no-one bought new the whole system would grind to a halt.

Absolutely to this bit.

Too many people think MSE is about living as a hermit and raiding the bargain basement bin. MSE is about helping you get the best deal on things you want. If you want a brand new car then consider pre-reg or an internet broker etc.

Keith

cyclonebri1 wrote: »

With no desrespect, I totally disagreed with his hypothetical savings and spending rational.

Pray tell me how buying a new car and losing 30% of your capital can beat buying the same car at a day/week/month old and saving that 30%??

I own the same car as Andy and strangely as Nev, as above bought new last year.

Incluuding the interest on the finance it came to 8980.

Now if that car lasts 9 years, it costs before servicing 1k a year, 1100 for this year or 180 per month if you like the finance payment plus service costs.

I can't see how i could get the basic piece of mind from going out and buying another car for a grand and knowing it should be problem free for 2 years at least.

Blitzwing85

I have to say i've wasted a tonne of money on cars over the years. I never regret buying the cars i did, i regret selling them early, at a big loss because im impulsive.

Most expensive car I bought was £20k back when I was 20 years old. I paid £14k for it as I sold my car for £6k. I took out a loan of £300 a month and back then, with no outgoings I didn't even notice it. That car was about 80% of my income back then and the monthly cost didn't affect me at all. So it really depends on your outgoings. Some people in nice expensive cars may not have any other bills to pay, making them easily affordable.

The recent car I bought was ex demo model, something i tend to aim for now as it saves you a fortune. cost me £10k and a new one was £13.5k. Only 22% of my income so it's very manageable, and I got 2.5k for my type-r which started giving me loads of problems.


I seen a lot of flash looking cars, but when you look into it they are not that expensive. Someone at work just got a 58 plate mercedes. Looks about £30k...turns out you can pick em up for around £14-15k.


I can understand why people like a nice car. Driving out in the country can turn out to be a fun day out...but with a bog standard car it takes a lot of the fun away. You dn't have to race around to enjoy it, but a more expensive car just drives so much better.
Saying that, the cost of fuel these days means i'd rather spend the money doing something else.

5 years ago I could go out all day in my 2.0l turbo and it cost me £20. Now it'd be more like £50 in my 1.6i standard car. I'd rather jsut go out for a meal and a few drinks and spend £30 there.

Cars are nice...but holidays are far more important to me. I prefer to see the world than drive around town.

rictus123

Its about priorities. Alot of folk are getting finance just now/have a car on finance at 20. I am one. Im getting rid asap and clearing it though. Its just a rope around your neck you do not need. Maybe mortgage free i will pay a few hundred a month if its interest free but dont see why i cant save up for them and pay at once. Im aiming long term savings at getting a car for work - 4wd that will do the job over winter. Got an Impreza wrx for this. Then il be looking at getting something flash but cheaper for hiding in the garage. 911 or 350z....maybe even a ford mustand or a newer Impreza.

Im 20 now, just bought my 10th motor. Hoping/planning to not buy again until at least 25. £50 a week between now and then is £13,000 not including interest.....easy do able and plenty to pay for a nicer car.

Tiddlywinks

nickj wrote: »

buying a brand new car must be about the worst investment ever

Not necessarily - if you buy a brand new car and then keep it for the next 10 years then the cost of ownership evens out.

As the sole owner, you know that you've "run it in" properly (although, granted most cars now don't need this), you know that it's been serviced on schedule and what parts have been replaced, how it's been driven etc and, most importantly, you don't have other people's bogies wiped under your driver seat:eek:!

Cars are not investments, unless it's a real classic it will always cost you money in the long run.