How much would you spend on a new car?

Hintza

Come on you lot the OP wants a car for carrying their grandchild not some banger which is fine if you are fit healthy, handy with a spanner and have the space to do your own repairs.

There is a time in life when you just can't be bothered any more.

OP if I were you I would be drawing up a long list that can be whittled down to a short list over the next year. Be flexible when you buy to get the best deals (in a year of research you should know a good deal when it appears).

If buying new keep an eye on the online brokers and "honest johns" prices. As has been said best deals are on models due for replacement.

Pre-reg is always an option but you need to be sure you are getting a good deal.

Demonstrators are also worth a look but again be sure the deal is ok.

Your best bet might be a car 1-2 years old but always check back to the new price.

You have plenty of time so use it wisely and be ready to deal.

NBLondon

martinsurrey wrote: »

Since you don't need a new car now I would start researching when the main manufacturers are releasing new models.

you can normally pick up a great deal as the dealers get rid of the old shape.

This was my plan when I bought a brand-new car just about 4 years ago... The Focus Mk3 had just come out and I was thinking I could get a Mk2 heavily discounted and if I was buying in July/August before the number plate change; then they might be even more keen to make the sales numbers when other customers waited for the new plate. I had every intention of keeping the car at least 5 years


I was in a similar position to the OP financially - an investment had just paid off at £16.5K and I couldn't see a good way to re-invest so adding that to my trade-in value of £1500 I was looking at £18K maximum. First step was to buy What Car? and look at their recommendations of what you should be able to haggle down to.


In the end, with a combination of a dealer sales promotion, a 0% finance deal and a salesperson who got her sums wrong... I bought a Mk3 Focus Titanium - list price £21.5K for £11K plus my trade-in on the day and about £6K to pay in 2 years time. Since I had the money to hand, the interest on that 6K for 2 years was more than the fees on the finance.


The car has just had it's 4 year MOT. In that time, the only cost over the normal consumables has been one puncture repair.

IamNotAllowedToUseMyName

It really depends on how well off you are and how you like to spend your money.

What is common ground is that a new car has an amazing amount of depreciation in the first year. What is less clear is how you can mitigate that loss: some buy nearly new, low mileage (I did that on a Merc and was somewhere about 40% of list) some find really good deals so get new cars at substantial discounts, especially when tied in with finance.

Others don't see the point or cannot afford large amounts of money tied up in a car, but we recognise that there is a point where a car is likely to be tired and what you save in purchase costs is risked in maintenance.

I reckon the car I had for 15 years cost me about the same every year if I consider depreciation (not that I ever changed) and maintenance. At first I had occasional service bills, quite low at first but then the things like brakes and then brake disks start catching up. Then as the car aged there were an increasing number of faults in parts that are not maintenance items - starter motor, bushings, broken springs and so on.

That car was as nice to drive on the day it left as the day I first had it, but it was clear that it just could not be depended on. The new car is a step change in experience of driveability with modern systems in place so I am happy to have upgraded to a much newer car, which cost some 2/3 of what I paid for the equivalent car 15 years ago in actual pounds.

The other side of the equation for me is that the kids have left home and are earning, our mortgage is paid off, living costs are relatively low compared with 5 years ago, so we are happy to put a bit more into luxuries.

Wh05apk

We are all different, If I was a car mad city trader earning £1m bonus's I would think nothing of spending £100k on a new Porsche every year or so, but I am not, car mad yes, and I rely on my car to earn me a living so a newish, reliable smart car is essential.


As a means of transport, for someone on a normal income, that has no interest in cars, then £3-4,000 should buy a functional, reliable car, if you enjoy driving/caring for cars/having the latest status symbol on your drive or simply have the income to do so then buy what you enjoy and can afford - you are only here once!

iolanthe07

I always spend just a bit more than I can easily afford - but I never borrow; always a cash deal.

[Deleted User]

£500 tops.

Johnnytwostep

£10s of K on a new car

jimjames

Deleted_User wrote: »

£500 tops.

Same here. Just bought my new car and it was exactly £500. Absolute bargain and drives brilliantly. Secret is finding an unpopular car and getting a great example of it for very little money. This car has opened my eyes a bit as it's such incredible value. I find it rather amusing that my car cost in total what others are paying each month for theirs and still gets me from A to B reliably in comfort.

lexington013

No more than 5k(ish) I do my homework. My latest acquisition is an 05 plate (10 year old Audi A3 sportback, 102000 miles, full Audi history, 2 owners, £2700). Will keep for 5 years.
Previously a Volvo XC90 56 plate, bought for £5200, ran for a year, sold for £6000. It can be done if you study the market.

Loanranger

enthusiasticsaver wrote: »

How much do people generally spend on new/replacement cars these days?


I will be trading in my Renault wind convertible which I bought brand new 5 years ago next summer and will be buying a more practical car to carry our new grandchild around in. I am saving up to add to the trade in price and will be using my National Savings index linked certificates which mature next May as the interest on those is negligible with low inflation. I am estimating I will have around £20k at my disposal but would rather spend nearer £15k for a 1.6 5 door automatic practical car.

I had a great interest free deal on my brand new Renault 5 years ago and there still seems to be a lot of those deals around but the price of the cars are so expensive I wonder if I should go back to used cars instead.


Does anyone have an opinion on whether it is better to go for used and pay less or go for brand new with all the deals that sometimes go with it - free servicing, interest free finance etc and no worries about buying a dud car that is going to need a fortune spent on it in a few months time?

Had our grandchild in a Polo automatic today, it's a top of the range fastish version. Get one about two years old for your cash. It's a four door, too.