End of Finance

AdrianC

Familyman01 said:

I had a C-Max in the past that had a major gearbox issue that cost thousands (was only 6 years old)

Powershi(f)t box?

and a Mondeo had a LOT of warranty work done on it

Warranty work is getting things sorted that have failed early because of failures in manufacturing or materials. Wear and tear is excluded from damn near every single warranty on the face of the planet. If things get to 3yo, the chances of them being covered by any manufacturer's warranty are slender. If anything, this is an argument against a brand new car...

You can, of course, buy an aftermarket warranty - but they're priced to be profitable once claims, admin, staff, office, sales costs are deducted from premiums. Which means you're hoping your car is going to be FAR less reliable than the warranty company think it will be...

AdrianC

Familyman01 said:

DrEskimo said:

Lol...then maybe stop buying Ford's

Wife wants what the wife wants!!!!

And that's the single most rational justification for splunking a LOT more out over three years than depreciation even to zero could possibly cost on your existing car.

Look at the numbers...
Depreciation from buy price to 3yr price is steep. You are borrowing a very large proportion of that buy price - so there's interest on that.
So it comes down to two things...
1. Fear of reliability.
Remember the average age of a car at scrappage in the UK is 14 years. Running it from 3 to 6 will not be hideously expensive.
2. Simple preference.
There could be a third...
3. The current car does not meet changed requirements.
...but since the current car and the new one are exactly the same thing, that does not apply.
You have a 2nd Generation S-Max. You want another 2nd Generation S-Max.
There might be minor spec and trim differences - oh, yes, and a number plate with "21" on it instead of "18", but it's the exact same basic car.

If it comes down to 2, and you can afford it without breaking a sweat, fill your boots. Your 3yo car will be appreciated by an owner who can't possibly afford the new one...

Grumpy_chap

AdrianC said:

Familyman01 said:

DrEskimo said:

Lol...then maybe stop buying Ford's

Wife wants what the wife wants!!!!

And that's the single most rational justification for splunking a LOT more out over three years than depreciation even to zero could possibly cost on your existing car.

Happy wife...
Easy life...

AdrianC

Grumpy_chap said:

AdrianC said:

Familyman01 said:

DrEskimo said:

Lol...then maybe stop buying Ford's

Wife wants what the wife wants!!!!

And that's the single most rational justification for splunking a LOT more out over three years than depreciation even to zero could possibly cost on your existing car.

Happy wife...
Easy life...

Profligate wife, skint life.

#EverydaySexism...

ontheroad1970

The OP thinks they are making a profit because they can get more than the balloon.  There's an elephant in the room shaped in a £10k deposit.  With that in mind, it doesn't feel like good value.