Have you ever bought a new car?

lilac_lady

Have you ever bought a brand new car? If so would you recommend doing that or do you regret it?

Dan29

I have and wouldn't do it again. The fact that no one else has owned the car before doesn't make up for the huge depreciation you suffer IMHO.

As is being discussed in the Changing cars... Every 3 years or much longer? thread, I'd probably go for a 6 month old car at a 20% or so discount on new price, or something 6 or 7 years old that has already done most of its depreciating, as that's usually the greatest (albeit 'hidden') cost of owning a car.

h5djr

I usually buy a new car inorder to get exactly what I want. I don't see the point of spending a lot of money on something that's not to the exact spec and with the exact options that I want. My last 6 cars have all been Audi A3s and I have kept each one around 3 years. In each case, when I have traded in, I've got around 50-60% of the original purchase price plus around 10% discount on the new car.

nearlyrich

I have bought new cars in the past and probably will again if I am not having a company car.

mymatebob

Dan29 wrote: »

I have and wouldn't do it again. The fact that no one else has owned the car before doesn't make up for the huge depreciation you suffer IMHO.

As is being discussed in the Changing cars... Every 3 years or much longer? thread, I'd probably go for a 6 month old car at a 20% or so discount on new price, or something 6 or 7 years old that has already done most of its depreciating, as that's usually the greatest (albeit 'hidden') cost of owning a car.

I must admit - I agree totally with this.

New cars are great, until the first scrape/rain/service or whatever it is that makes you think - oh, it isnt new anymore

Hintza

Had a new company car once.

But I'm into leasing at the moment....new car every 1-2 years brill.

Sure Ill get an MSE moment in a year or so though........;) But was doing bangereconomis for the previous 15 years.

Belnahua

I bought a new car, and didn't get much metal for my dosh really. Great for a month, then you start missing the electric windows, cd player, comfy seats; and you get paranoid about scratches and supermarket car park trollies. Sold it 6 years later for a loss of £8500.

Now I buy 7-8 year old cars (pre scratched) that have all the comforts, and just run them into the ground. I paid £1700 for my car, at present it is now over 11 years old, still going strong and worth £500, so a current depreciation of £300pa!

Dan29

h5djr wrote: »

I usually buy a new car inorder to get exactly what I want. I don't see the point of spending a lot of money on something that's not to the exact spec and with the exact options that I want. My last 6 cars have all been Audi A3s and I have kept each one around 3 years. In each case, when I have traded in, I've got around 50-60% of the original purchase price plus around 10% discount on the new car.

So you're buying the car for about £15,000 and then 3 years later trading it in for £9,000 or so - i.e. about £2,000 a year depreciation?

Interesting to compare that to leasing which would be more like £3,000 a year.

Hintza you've made some very informative posts in the past about leasing and I know you use www.contracthireandleasing.com, but is there a site that allows someone who's not bothered about a specific make/model to list all deals in order of price? It seems the ideal way to lease if you don't have a particular car in mind is to take advantage of whatever special offers are on at the time.

david69_2

If you buy a car say at 6-7 years old you will of lost alot of the depreciation but dont forget they will go wrong especially something like a 4 by 4

Hintza

Dan29 wrote: »

Hintza you've made some very information posts in the past about leasing and I know you use www.contracthireandleasing.com, but is there a site that allows someone who's not bothered about a specific make/model to list all deals in order of price? It seems the ideal way to lease if you don't have a particular car in mind is to take advantage of whatever special offers are on at the time.

No I don't think so, you need to keep your ear to the ground and think a little latterally. I got interested when I heard about an Audi A6 deal about 18 months ago. I missed it and ended up with a Chrysler 300C...other half wanted a 4x4 for the ponies but I got a year of fun to myself...lol.

I now have a Jeep Grand Cherokee @ £300 + VAT per month for two years. If I owned that I woulld be kaking myself I think the price will drop like a stone but her in doors is happy.

When I got the Jeep the best deal around was a Dodge Nitro @ £150 for 1 or 2 years (*not sure which). I guess Dodge were having trouble shifting them and you would either love it or hate it. But the point is you want to look at cars that arenot very popular such as the American ones.


If your monthly payments divided into the new cost of the vehicle get above 75 you are getting a good deal if it is getting close to 100 it is a fantastic deal. However be careful you check that the dealers aren't offering huge discounts.

So top tips.

Keep checking the car leasing websites
Look for the deal not the car (you don't have to worry about depreciation and you don't have it for years)
Check what offer the dealer will do (they were close on the Jeep when I did the figures but the goalposts have moved in the last two months hugely in favour of leasing on large vehicles)
Check the honestjohn website for best offers they might translate into good leasing deals.
Look out for manufacturers introducing facelift or replacement models.
Keep rentals short for more fun.

What kind of car are you looking for?

Just to add I've just got to that stage in life when a bit of comfort and less hassle is more important than the ultimate cost.

The OH Panda which I had rebuilt from CAT D broke and engine mounting and has been away for over a week and the bill is going to be £400+...argh.

Whilst the Panda I did the same for my daughter is going strong and was an excellent cost effective buy.

Hintza

Just had a quick look Dodge Calibers for £129 + VAT per month currently. Lot of car for the money SIL has one and it is OK and more importantly different.

Chevy Captivas under £200.