New vs Second Hand

mrscobden

Dear all

I am new to the forum, so I am sorry if this has been covered in another thread. I was hoping that someone could help me with a question that I am mulling over.

I am starting a new job in Ruislip (I live in rural Oxfordshire) - my husband and I will have to buy a second car. There are no two ways about it. I looked into public transport and the costs/issues with it seem to be prohibitive. The nearest train station is seven miles away in Oxford and our village is not served by public transport; I would have to drive anyway, whether to the train station or my place of work. I did the maths and buying a second car actually seems to represent better value for money all in.

My question is - is it better to buy new or second-hand? I understand how depreciation works - I am thinking in terms of running costs, warranty, and mileage; not resale value. I will be doing over 500 miles per week. If you calculate that over the course of the year, that is way over the maximum mileage covered by finance contracts and the penalties are usually around 7-10 p per mile (rip off). Of course, I would need to take into account interest for finance/contract hire/bank loans, and if I was going to pay the large lump sum at the end of the term. The advantage of a new car is that it comes with next to 0 miles on the clock. I would be concerned that if I bought a relatively low-mileage second hand car, I would get slightly less life out of it and issues with ageing parts.

Does anyone have any thoughts? Have I failed to take certain things into account?

Best wishes

Mrs C

EdGasket

I always buy second hand. The most I have ever spent on a car in my entire life is £1,000 and I have been around a long time!

mrscobden

If you don't mind me asking, what do you base that particular decision on? Do you get a lot of mileage out of your second-hand cars.

Thanks for replying :-)

jaydeeuk1

2nd hand will always be cheaper, it will be cheaper to buy and run a perodua nippa over 3 years, even if its the most unreliable car known to man, than buy something like a brand new focus or golf.

I think its 'better' to buy new (I only buy new) but it certainly isn't cheaper, but for me a car just isn't something to get me from A to B, I like new and shiny.

Marktheshark

At 500 miles a week, you need a rep mobile.
A somewhat boring run of the mill rep type car that are built to soak up the miles in comfort.

EdGasket

mrscobden wrote: »

If you don't mind me asking, what do you base that particular decision on? Do you get a lot of mileage out of your second-hand cars.

Thanks for replying :-)

Previously it was of necessity; I couldn't afford any more so I learnt how to repair cars and fix them myself. Now I find I can buy a reliable car for under £1K without much difficulty so I don't see any point in spending more. They only depreciate or get driven into.

Just found my daughter a Honda Civic with a year's MoT for £600. I need to change the timing belt because it is due but doesn't need much else doing really.

reeac

I don't think that tales of superb banger experiences are too relevant to the OP who will be doing 25,000 miles per annum of commuting and will above all need reliability. My view? Buy a new car - the smallest that you find to be sufficiently comfortable for that useage.
Staying small will reduce initial price, depreciation and running costs. Sounds like a case for diesel.

Jonesya

Personally I'd look for a 3 or 4 year old diesel, from a reliable make, preferably with a chain cam engine so you don't have to pay for cam belt changes ever few years.

Something like a well serviced rep mobile, coming out of its lease or PCP.

AdrianC

7 miles each way to the station...? That's a heck of a lot of things you've forgotten to pick up before you get to 500 miles/week...

MysteryMe

Return trip home to Ruislip not the rail station.

AdrianC

I think you might be missing the subtle suggestion in my post.

But you're more than welcome to sit stationary on the M40 if you really want.