What would you Buy - Old or New?

Skinto_7

Hi folks,

My mate has about £15k to spend on a car.

He is looking at a new car or one that is a year old (so he doesnt take the full dunt on the depreciation) , things like astra's, volvo C30 etc.

I have advised that he would be much better off buying an older (5 years old) BMW 6 series, Audi A5, Jag XF, Porsche Cayman etc.

Regardless of the makes, my argument is you would be better off buying a higher spec car that is a few years old, than a new car or even 1year old bog standard Vauxhall, ford etc.

Just wondering what your guys preference would be when it comes to buying a car?

Cheers

poppasmurf_bewdley

My preference is for a two year old car, which has already suffered the largest drop in depreciation.

Last year, I bought a two year old Mondeo Ghia Auto Estate, list price new £26k, for £11k.

rev_henry

Well I've no idea what would possess anyone to spend that amount of money on something as boring as an Astra when you could have virtually anything you wanted a little older for the same money, so yes I agree...

Tilt

I've been doing both since 1978. I've had some good and not so good 'nearly new' cars in that time but have mostly bought brand new. There are pro's and con's in doing both but you do get more protection buying new when things go wrong (which in my case hasn't happened very often as i've always stuck with Fiat and i'm on my 14th one atm).

If I was pushed into an answer on this, I would go for new.

JimmyTheWig

Persoanlly I'd go for what should be the most reliable car that is suitable (e.g. enough seats, etc) for my budget. So I'd pick the newer car rather than the flashier car.
But, when it comes to cars at least, I'm boring. Sorry. Note that I bought an A-reg (1983) Austin Maestro in the year 2000 because it was cheap and reliable.

knightstyle

Go for about two years old with remainder of 3 or more years warranty.
Plus check the service book BEFORE signing anything.

markelock

big difference in running costs in what he's looking at and what you're suggesting.

Johnmcl7

I try to buy a car at two to three years so I can get a decent spec on a car that's past some of the depreciation and should still be in good nick.

When I was younger the temptation was to buy something more exotic but the problem with most of the cars you've listed is that while the initial cost may be pretty good, you have to be prepared for much higher running costs and potentially nasty surprises.

John

Skinto_7

markelock wrote: »

big difference in running costs in what he's looking at and what you're suggesting.

Markelock,

Yeah accept the running costs comes into it the more high spec you go, however ive shown him a few that are around the £12-£13k mark, so the £2-3k he is saving would in theory cover the additional costs over the 3 years he keeps it.

Plus the deprecaition when he comes to sell, trade in would be less than compared to a newer car, so he would save that end!!

gilbert_and_sullivan

''BMW 6 series, Audi A5, Jag XF, Porsche Cayman etc.''

Firstly are those cars totally reliable?
Answer No.

Will they cost a weeks wages for a basic service Yes.
Will they cost 2 weeks wages for a major service, Undoubtably.
Will the cost of a decent non Chinese ditchfinder tyre be over £200 Yes.
Will a set of pads and discs cost over £1000 and up to £2000, Probably unless aftermarket and self fit.
Will the VED be £470 unless the troublesome and tractor like Diesel version is chosen, Yes.
Will insurance be expensive, Very.

Lovely cars but they are cheap used for a very good reason, they will cost serious money to maintain and a lot more to fix should they go wrong.

They are bought as expensive company or business cars and sold at 3 years, similarly the usual private buyers of this sort of car are on footballers wages or get others to stand on street corners looking furtive for them..

Skinto_7

gilbert_and_sullivan wrote: »

''BMW 6 series, Audi A5, Jag XF, Porsche Cayman etc.''

Firstly are those cars totally reliable?
Answer No. - What car is totally reliable? i would say from my expierance of Audi's and Porsche's they have been above average in terms of reliability

Will they cost a weeks wages for a basic service Yes.
Will they cost 2 weeks wages for a major service, Undoubtably.
Will the cost of a decent non Chinese ditchfinder tyre be over £200 Yes.
Will a set of pads and discs cost over £1000 and up to £2000, Probably unless aftermarket and self fit.
Will the VED be £470 unless the troublesome and tractor like Diesel version is chosen, Yes.
Will insurance be expensive, Very.

I would say you have alot of generalisations there, when i had my audi i found very reasonable servicing costs at a local audi approved mechanic, and the tyres were no different to what i would have put on a similar sized rimmed Astra, volvo etc. Same with insurance, this will generally be defined by the individual and engine within the car, not really the make.

Lovely cars but they are cheap used for a very good reason, they will cost serious money to maintain and a lot more to fix should they go wrong.

They are bought as expensive company or business cars and sold at 3 years, similarly the usual private buyers of this sort of car are on footballers wages or get others to stand on street corners looking furtive for them..

As the notes above, i agree there will be an element of increased maintenance costs however not to the extend you are making out.

In in relation to what you are getting for you ££££, and the better performance in terms of depreciation, seems a much better idea to go older but better, than new and basic!!