New car dilemma
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Newbie to the forum looking for advice!
Firstly, I am not overly bothered about having a flash car or what others think of what I drive so my decision comes down to a few factors:
- does it look nice, relatively 'sporty'. Well, when I say 'sporty' I just mean it is not really boring and dull.
- how does it drive?
- price and longevity.
- running costs and depreciation.
In my 17 years of driving I've had only 3 cars (5 years, 8 years and 4 years) with the first two being used until no longer economically viable so simply part exchanged in for a few hundred at the time of buying the new one. My current car is a 3 door 2.0 TDci Focus, 2007 plate with 99k on the clock. In the past year it has had a new clutch, water pump, brake discs, starter motor and battery so it is very well maintained. Also had a new cambelt on 80k. Some key items have been replaced which can only help me sell it for a fairly good price. On the flipside, having not long ago incurred these costs if I decide to replace it now I will have no chance of recouping this spend.
I have been offered a 3 year old car which fits my criteria, albeit smaller than my current car, for a good £1,500 less than the general market value (in the family hence the generous price) which has only 9k on the clock and 2 very low use owners. Engine is much smaller which at first was a concern but on further inspection I have found that it is only 12bhp less than my current car, 0-60 difference is negligible. Running cost wise - zero tax, slightly cheaper insurance, probably more economical on fuel (although my research suggests that the mpg figures quoted are very ambitious, shall we say) but worst case scenario I would expect it to be no worse than the mpg that I currently get. Other benefits:
- car is 7 years newer so obviously less chance of bigger ticket repairs in the immediate future
- I could even sell it in 12-18 months and probably not lose much money given the discounted price I am buying it for.
I do like my current car very much but understand that the older it gets, the more that needs to be repaired so it is an inevitability that costs will add up over the next few years and perhaps it is time to sell it whilst it has some trade in value.
I am money conscious so hate the thought of having to shell out £5.5k (after selling my car) and depreciation concerns me, but this will apply to most cars (classics aside, which I cannot afford anyway). However, common sense suggests that over the next 2-3 years I will have to shell out 5-7k for a new car anyway so why not take advantage of a car that is some 15% cheaper than MV and I know that it has been very well looked after.
Can anyone think of any other considerations that I may have missed? Advice and opinions welcomed.
Firstly, I am not overly bothered about having a flash car or what others think of what I drive so my decision comes down to a few factors:
- does it look nice, relatively 'sporty'. Well, when I say 'sporty' I just mean it is not really boring and dull.
- how does it drive?
- price and longevity.
- running costs and depreciation.
In my 17 years of driving I've had only 3 cars (5 years, 8 years and 4 years) with the first two being used until no longer economically viable so simply part exchanged in for a few hundred at the time of buying the new one. My current car is a 3 door 2.0 TDci Focus, 2007 plate with 99k on the clock. In the past year it has had a new clutch, water pump, brake discs, starter motor and battery so it is very well maintained. Also had a new cambelt on 80k. Some key items have been replaced which can only help me sell it for a fairly good price. On the flipside, having not long ago incurred these costs if I decide to replace it now I will have no chance of recouping this spend.
I have been offered a 3 year old car which fits my criteria, albeit smaller than my current car, for a good £1,500 less than the general market value (in the family hence the generous price) which has only 9k on the clock and 2 very low use owners. Engine is much smaller which at first was a concern but on further inspection I have found that it is only 12bhp less than my current car, 0-60 difference is negligible. Running cost wise - zero tax, slightly cheaper insurance, probably more economical on fuel (although my research suggests that the mpg figures quoted are very ambitious, shall we say) but worst case scenario I would expect it to be no worse than the mpg that I currently get. Other benefits:
- car is 7 years newer so obviously less chance of bigger ticket repairs in the immediate future
- I could even sell it in 12-18 months and probably not lose much money given the discounted price I am buying it for.
I do like my current car very much but understand that the older it gets, the more that needs to be repaired so it is an inevitability that costs will add up over the next few years and perhaps it is time to sell it whilst it has some trade in value.
I am money conscious so hate the thought of having to shell out £5.5k (after selling my car) and depreciation concerns me, but this will apply to most cars (classics aside, which I cannot afford anyway). However, common sense suggests that over the next 2-3 years I will have to shell out 5-7k for a new car anyway so why not take advantage of a car that is some 15% cheaper than MV and I know that it has been very well looked after.
Can anyone think of any other considerations that I may have missed? Advice and opinions welcomed.
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Comments
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If it is the Ford ecoboost engine, make certain it has a full manufacturers service history, low mileage cars often miss the timed services.
With an ecoboost that FSH is essential if you don't want to be paying for a new engine.
Small powerful engines worry me in general, but I'm a bit of a Luddite in that respect.I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science
)0 -
I think after taking such care of your existing car, it's a shame to get rid of it. If it goes okay, and does not let you down, why change?0
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If it is the Ford ecoboost engine, make certain it has a full manufacturers service history, low mileage cars often miss the timed services.
With an ecoboost that FSH is essential if you don't want to be paying for a new engine.
Small powerful engines worry me in general, but I'm a bit of a Luddite in that respect.
Excuse my ignorance but could you elaborate on this? What is the risk?0 -
I think after taking such care of your existing car, it's a shame to get rid of it. If it goes okay, and does not let you down, why change?
Totally agree but it's almost 11 years old and who is to say that in another year or so I won't have to start replacing bigger items, in addition to another £500-700 depreciation when I would be looking at a very low sell on value. Also, the fact I am getting the car at a £1,500-1,750 discount is appealing.0 -
Have you told us the make and model of the car you are considering?0
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But bear in mind that there's only 300 on the groups set up to complain about it and as of 2015 there were over 5,000,000 Ecoboost engines in use. if it was truly as bad as some are trying to claim that it is then the hard shoulders and laybys of the nation would be full of broken down Fords.0
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Excuse my ignorance but could you elaborate on this? What is the risk?
Very highly stressed little engine, many failures reported, there is even a thread on here
http://forums.moneysavingexpert.com/showthread.php?t=5612757
If you have the full Ford service history, you are in with a chance of a "goodwill" gesture when it breaks. As I said, low mileage cars tend to miss annual services because they "haven't done enough miles" and manufacturers love to point out that this has affected the warranty when there is a problem (obviously, the problem would have been spotted at the service, so would never have developed
).
Still down to you, I'm afraid, your current car owes you money, so you really ought to drive it and get your money's worth, but if the Ford doesn't blow up you reckon you can punt it on in 12 months for what you pay now, so you get a nearly new car for effectively nothing.
(Most of the ecoboosts don't blow up, but enough of them do to make it a bit of a lottery. Every car I've owned has suffered from the "common problems" that the owners groups mention, yet apparently the other 99% made didn't, so I'm just too unlucky to chance one, as I always pick the 1% er). I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science)0
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