Advice Please: is this a good deal for 19 year old?

flea72

Dukesy wrote: »

Ok so you're young and you've just passed... Why for the love of god are you getting a brand new car? Ultimately, you WILL end up paying more with this brand new one - why not just get yourself something small and second hand that you can own outright and that no-one will repossess thus !!!!!!ing up your credit record if you ever can't pay the finance for some reason?!

Because buying the car saves him £2k+ on the insurance, which more than makes up for the depreciation of buying a new car. Hopefully with no claims in first year, the insurance will come down to a reasonable price. You would also expect a new car to be more reliable and need less costly repairs

Bangernomic successes are few and far between. If OP buys a car for £1k and insures for £3k, then thats £4k outlay in the first year. By buying new he will pay £3.4k in first year. Have no MOT and repairs other than wear and tear, so overall it does look the better deal

funkycoldribena

You do know why its called Connexion dont you?

daveyjp

First car is banger territory. Not only does it mean no crying when you hit something, it also teaches you how to look after a car and experience what to do when it breaks down. It also makes you appreciate a reliable motor a few years down the line.

Repairs are always a concern, but something like a Ford Ka or Fiesta can be fixed by anyone and parts are cheap.

Dukesy

wba31 wrote: »

until he tries to start it while its in gear, forgetting that it is in gear and it jolts forward and hits a wall, or he misjudges the turn in the car park and scraps a pillar or kerbs the wheels.

I had the JOY of a G reg Nissan Micra for my first car, i paid £100 for it. I scraped walls and hit posts and bits went wrong, but I got all my parts (body and mechanical) from an Japanese specialist scrappy in Aston, Birmingham (they are no longer there as the big Tesco by Villa Park is where they used to be) and I probably spent no more than an extra £200 on putting things right. Had my parents offered me a Kia Rio as my first car I would have rather have chopped my testes off, my micra was mine, i paid for it from my pub job, i put stereo in it that quadrupled the value of the car. I drove it how i damn well pleased, without some big brother type black box recording my every move, and when it died, i bought another one. I really learnt to drive in those cars, I learnt that you cant negate a wet roundabout too quickly, i learnt about stopping distances when doing 70 in a 30, i also learnt about repairing an engine rather than just handing the keys back to the garage, a 7 year warranty wont do much good if you break down in the middle of Snowdonia or the Scottish Highlands...

I hope your son enjoys his new found "freedom..."

All of this made me smile

Smj, why on earth would you think a new car would be sensible for an 18 year old? And why do you think it would be more cost effective? Will you be paying for it or is your child now locked into paying for this car, which will depreciate like mad! I've nothing against commitments - I was committed to a mortgage at 21, but that's something which made me money, not something I had to stretch to pay for every month only to see it fall in value.

Dukesy

flea72 wrote: »

Because buying the car saves him £2k+ on the insurance, which more than makes up for the depreciation of buying a new car. Hopefully with no claims in first year, the insurance will come down to a reasonable price. You would also expect a new car to be more reliable and need less costly repairs

Bangernomic successes are few and far between. If OP buys a car for £1k and insures for £3k, then thats £4k outlay in the first year. By buying new he will pay £3.4k in first year. Have no MOT and repairs other than wear and tear, so overall it does look the better deal

Firstly, that will fluctuate wildly depending upon the car. As I'm sure I've already said, some cars - perhaps unexpected cars - are massive amounts cheaper to insure that others.

Secondly, what happens in year two, three etc. Ultimately, the new car will cost more.

ChopinonaBudget

flea72 wrote: »

Hopefully with no claims in first year, the insurance will come down to a reasonable price.

That's an awfully big hope - even if he turns out to be an inexperienced driver who drives like a pro with 20 years on the road (I'm stopping myself chuckling even as I'm writing that) there's no accounting for all the other idiots out there......

ChopinonaBudget

wba31 wrote: »

until he tries to start it while its in gear, forgetting that it is in gear and it jolts forward and hits a wall, or he misjudges the turn in the car park and scraps a pillar or kerbs the wheels.

I had the JOY of a G reg Nissan Micra for my first car, i paid £100 for it. I scraped walls and hit posts and bits went wrong, but I got all my parts (body and mechanical) from an Japanese specialist scrappy in Aston, Birmingham (they are no longer there as the big Tesco by Villa Park is where they used to be) and I probably spent no more than an extra £200 on putting things right. Had my parents offered me a Kia Rio as my first car I would have rather have chopped my testes off, my micra was mine, i paid for it from my pub job, i put stereo in it that quadrupled the value of the car. I drove it how i damn well pleased, without some big brother type black box recording my every move, and when it died, i bought another one. I really learnt to drive in those cars, I learnt that you cant negate a wet roundabout too quickly, i learnt about stopping distances when doing 70 in a 30, i also learnt about repairing an engine rather than just handing the keys back to the garage, a 7 year warranty wont do much good if you break down in the middle of Snowdonia or the Scottish Highlands...

I hope your son enjoys his new found "freedom..."

Ah, my first car was an F reg Micra I was lucky and was given it, but still it was lovely to drive and I have such fond memories of it even though looking back I was an absolute moron behind the wheel back then.... (In case anybody is curious as to how long it takes for a 1L Micra to accelerate from 0-60 on country roads, the answer is one minute....) :eek:

Oh, and a quick message to the poster too.... things fail, even in new cars. My brakes totally failed once on that Nissan, and I still managed to get the thing down to a safe stop and park it without a single scratch - not trying to scare you, but that was sheer driver experience and confidence that got me out of a massive accident, and out of a massive insurance claim. My baby daughter was in the car then too. It doesn't matter how much faith you have in your son's ability not to need a claim, he's inexperienced, roads are busy, sh*t happens, and it doesn't even have to be dangerous sh*t for it to be expensive shi*t

learningaboutinsurance

I share the view of the majority, it will be the biggest mistake you make.

I passed my test later on in life thinking maturity and older age (passed at 27 :eek:) would benefit me financially and older age would make me more responsible and experienced on the roads.

so tested this theory out. passed in Jan then bought my first car a Vectra (outright) for about £600 in march :T insurance was £2.5k :eek: and then all the above went to pot in May when i crashed it,

Liability went 50/50, lost my Years NCD, had no car (it was a write off) but guess what i did not owe anything to anyone on finance, cancelled the insurance with 50% payment so owed them nothing.

and started again.

now imagine a 19 year old, owing finance on a lets say a 8k car, this year they pay your insurance , do you think they will pay your insurance in year 2 and then 3 and even with 1 years NCD do you really think you will get insurance fully comp for less than grand

and also think about once you sign the contract for a new Car on finance you have to at least make 50% of the payments of the product before you can think about VT that's even if the finance company lets you. for me that's a biggie especially since at 19 i did not have a career or enough experience in the employment ladder to confidently be in a position if i was to lose my job i could get a another and be financially independent.

only now at aged 30 have i now just settled in to a employment where my career is starting to shape, i have savings, my credit report is good. my insurance has come down massively, i drive a £800 focus ( i love this car and will drive it until it dies), apart from some about grand on credit card i owe no one anything.

so as you can see don't do it, its not worth it

wba31

ChopinonaBudget wrote: »

Ah, my first car was an F reg Micra I was lucky and was given it, but still it was lovely to drive and I have such fond memories of it even though looking back I was an absolute moron behind the wheel back then.... (In case anybody is curious as to how long it takes for a 1L Micra to accelerate from 0-60 on country roads, the answer is one minute....) :eek:

Oh, and a quick message to the poster too.... things fail, even in new cars. My brakes totally failed once on that Nissan, and I still managed to get the thing down to a safe stop and park it without a single scratch - not trying to scare you, but that was sheer driver experience and confidence that got me out of a massive accident, and out of a massive insurance claim. My baby daughter was in the car then too. It doesn't matter how much faith you have in your son's ability not to need a claim, he's inexperienced, roads are busy, sh*t happens, and it doesn't even have to be dangerous sh*t for it to be expensive shi*t

High 5 on the squared micra. I had the 1.2GL, I bought it off a mechanic and it was far quicker than it should have been. my speedo hit 100 a few times on the M6 between junction 7 and 10, every time i accelerated blue smoke billowed out the back (so when on the motorway i wouldnt have people in decent cars behind me trying to get me to pull in for them!!) my first one was white with a brown interior (apart from the grey steering wheel I got from the gents at Jap car spares!)
freaking loved that car, my dog used to love sitting on the passenger seat with the window open a touch on a long drive somewhere...
starting to hate my 08 civic that i only bought 2 months ago now... new cars have no character...

ChopinonaBudget

wba31 wrote: »

High 5 on the squared micra. I had the 1.2GL, I bought it off a mechanic and it was far quicker than it should have been. my speedo hit 100 a few times on the M6 between junction 7 and 10, every time i accelerated blue smoke billowed out the back (so when on the motorway i wouldnt have people in decent cars behind me trying to get me to pull in for them!!) my first one was white with a brown interior (apart from the grey steering wheel I got from the gents at Jap car spares!)
freaking loved that car, my dog used to love sitting on the passenger seat with the window open a touch on a long drive somewhere...
starting to hate my 08 civic that i only bought 2 months ago now... new cars have no character...

I'm impressed, I only ever got mine up to 96 :eek: (although IIR the speedo only went up to 95 and I edged over the precipice, but I could be wrong here...)

I'd love to get behind the wheel of a Mk1 Micra again.