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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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