Have you ever bought a new car?

C_Ronaldo

Im not sure if id do it again, you could probably get a better spec car for less money if bought second but then finding a car with certain criteria is hard as there could be none for sale,

lilac_lady

I've decided to buy a new car. I know it'll depreciate rapidly but as I won't be replacing it for many years (I hope) that doesn't bother me. When people talk about depreciation they should remember that they've had the use of the car to offset that. I've had my present car for over 12 years so think I got my money's worth. I don't do a lot of milage now that I don't need a car for work so once I've bought it it should last a long time.
Thanks to everyone who took the time to post - it helped me decide what to do.

Twopints

The biggest chunk of depreciation happens as soon as the car is purchased. By buying "nearly-new" i.e. less than 6 months old as opposed to brand new you can still have the benefit of e.g. manufacturer's warranty, no MOT, but you pay a lot less than new.

Natty68

Hubby buys a new car every three years, he pays HP for over the three years then trades it in for another new one. He said he will always keep doing it as he can guarantee that it will get serviced and no MOT for three years. On the other hand I have always bought 2nd hand cars and have not been happy wth three out of four of them.

AdrianHi

lilac_lady wrote: »

I've decided to buy a new car. I know it'll depreciate rapidly but as I won't be replacing it for many years (I hope) that doesn't bother me. When people talk about depreciation they should remember that they've had the use of the car to offset that. I've had my present car for over 12 years so think I got my money's worth. I don't do a lot of milage now that I don't need a car for work so once I've bought it it should last a long time.
Thanks to everyone who took the time to post - it helped me decide what to do.

It is a fair point.
Regardless of how much one car depreciates or costs vs. another, if you go in with your eyes open knowing what the difference in cost is and you simply like the more expensive car you can ask yourself two questions:
Can I afford the extra?
Is it worth it to me to pay the extra?
If the answer is yes to both then you can ignore any contrary advice and move on with your car buying choice.

Personally, I knowingly pay about £400 a year more for the car I'm in compared to something else that would have done the job just as well because I liked it enough to spend the extra and I can afford it.

wba31

i leased a new 307 last year, RRP was £19k, after 6 months i handed it back and it went on forcourt for £11k... i'd go for a 6 month old motor if i were you

cfclol

"if it appreciates..buy it, if it depreciates rent"
In my opinion it's wise to never pay cash for a new car...shop around for PCP or HP but don't just focus on the monthly repayments, look at the whole picture (apr, terms etc)

I have found some good info on http://www.motor-trade-insider.com and they also offer free advice.

Cheers

torbrex

Keep a lookout for ex-demonstrators, I am on my third one, you get a virtually new car usually less than 6 months old and the price is more negotiable than a new one and sometimes you can get an interest free deal if the dealer is offering it for the new cars.
Some of the drawbacks are that you cant choose colour or extras and you will not get the benifit of a full warranty.

newcastlebelle

been buying preregistered cars for the family for years.
the cd player on the daughters' Clio [55 reg] broke last week and was replaced free of charge under the 3 yr warranty. she saved £3000 by buying it prereg on new price and has the safety of 3 yr warranty, she'll trade it in for another in sept.
the husbands astra was bought prereg last year, cheaper than 6 mth old 2nd hand identical cars!
i got a punto recently for well under £6000 with extras. also pre reg.
in the past oredered and bought brand new cars, but would always opt for prereg now as they are virtually new, only had 3 miles on the clock with the punto.

butterfly72

Last year I purchased a 6 month old car for 25% less on the new price from a carsupermarket sale. TBH, it looked brand new and the warrenties still valid. I've just checked the valuation on What car? and paid less than the current valuations listed for dealer and private price so feeling very happy! Plus I'll be keeping this car for years - kept my last one for 11 years!

I think you need to think of the future, what if you were to lose your job or needed emergency funds and had to sell it.. you'd really regret forking out thousands extra for a brand new car. Its a nice luxury but in the current climate........ be sensible.