If you had £280 a month to finance a car....

jaydeeuk1

Prothet_of_Doom wrote: »

Someone has to buy new cars, so that I can drive them 15 years later :rotfl:

You wouldn't want any car I've owned from new 15 years down the line

duchy

Bit of a daft question.... I know what I'd buy -but my driving needs may be very different to yours. Long or short distances, pose value, number of people needed to transport, cost of insurance etc etc

(Actually truth is I can't think of a car that would justify that monthly payment I've done it before and it really wasn't worth it to me....... but it might be to you )

motorguy

DKLS wrote: »

Golf R for £252.10 here

£1500 deposit, but still a good deal

Hintza

jaydeeuk1 wrote: »

You wouldn't want any car I've owned from new 15 years down the line

Nor mine........:rotfl:

mwddrwg

I recntly got a Ford Focus Zetec Climate estate on an 07 plate for £4000. Has only done 22,000 miles so a bit of a lucky find methinks

Angelicdevil

Sorry for only coming back to reply now, I had been reading the replies just had no time to respond.

It's interesting to see the different view points. I think I went through all of those considerations as £280 is a lot of money and not very MSE at all!!!

But, I have chosen my car and it's just shy of the £280 a month.

I decided I wanted a nice, shiny new car. The dealer had a good deal and I was able to use some loyalty discounts racked up by my family, so I feel like I've got a good deal.

It was between a new car with no MOT/Servicing costs for 3 years or a 7 year old car (same manufacturer) and it worked out that over the 3 years (I'm a car flitter, so I like to change every 3/4 years) I would spend the same amount running the brand new car as the 7 year old car.

Now I have a loooooooooooooooooong 7 week wait til my car is built and delivered :j :j :j

jimjames

Angelicdevil wrote: »

It was between a new car with no MOT/Servicing costs for 3 years or a 7 year old car (same manufacturer) and it worked out that over the 3 years (I'm a car flitter, so I like to change every 3/4 years) I would spend the same amount running the brand new car as the 7 year old car.

I'd be very interested to see the calculations on that. I find it very hard to believe that a 7 year old car would cost the same to run as a new one unless they are in completely different classes. By 7 years most depreciation has already happened yet on a new one you will lose 50%+ over the first 3 years.

Blancster1

So what have you ordered then?

Angelicdevil

jimjames wrote: »

I'd be very interested to see the calculations on that. I find it very hard to believe that a 7 year old car would cost the same to run as a new one unless they are in completely different classes. By 7 years most depreciation has already happened yet on a new one you will lose 50%+ over the first 3 years.

My logic is as follows:

For the new car (BMW 116i 3dr Sport)
£277 over 3yrs = £9,972

+ £1,000 (deposit) + £250 (tax over 2 years) = £10,972

No mot costs and servicing covered. At end of term hand back/pay balloon payment/another new car.


A used car ('57 plate BMW Z4)
£9,999 over 3yrs = £277.75

No deposit.

£560 (2yrs road tax) + £150 (MOT costs for 3yrs, not inc any probs that are likely to need rectifying) + £300 (servicing costs, based on £100 a go not inc any parts/labour....) = £11,009.

I haven't included likely maintenance costs of the BMW Z4 as I could be lucky with a good'un or end up with one that needs everything replacing (not literally).

But as you can see it's almost on a par. I know with the used car I'd have something to sell at the end but I'm happier knowing my monthly costs with a new car and not having to worry tooooooooo much about maintenance.

daveyjp

Well done on comparing apples with oranges for your examples to justify your buying decision.