I don't understand some people.....

Kreeeee · 7 Feb 2017 at 12:09

DAIR said:
That's a lot of money for a Corsa. I think I paid a little under 15k for my brand new Corsa VXR. Back in 2008 iirc.... Can't believe that was almost ten years ago.

Anyway, your mate is a plonka. For entering into such an agreement for a crap car. Sorry.

That's £19k in today's money.

DAIR · 7 Feb 2017 at 12:20

Jaysus. I must have been rich a stupid.

Great fun while it lasted though.

GinG · 7 Feb 2017 at 12:35

nas said:
Its not £15k though, its £170pm

The insurance premium extremely high on anything else so... oh wait.

Joking aside this is exactly it...it is just £170 per month.

Yes breaking it down and working out the car being £15.5k is all well and good but 99.9% sure the balloon payment will never be paid and instead she will just jump straight into another car at £170 - £200 per month.

If she is happy with the purchase then let her enjoy the car, not sure if she could have got much else better for the deposit + £170 per month?

bobbarley · 7 Feb 2017 at 12:37

The problem is you can't tell someone not to buy a new car, it's a mistake you have to make yourself before you realise what a waste of money it was.

theone8181 · 7 Feb 2017 at 13:26

bobbarley said:
The problem is you can't tell someone not to buy a new car, it's a mistake you have to make yourself before you realise what a waste of money it was.

I quite enjoyed doing it at 18, mine was a lease tho and i got insurance and 3 years maintenance included. Ironicly on a 1.4 corsa SRI 2004.

Jono8 · 7 Feb 2017 at 13:41

inflames said:
Yes safety wise you are correct a newer car is better. Being a father i do see this side, but i would still rather my teach my kids how to service a car, change a wheel and if they want to learn more after that i will help them too. At least they learn some basic skills on how to look after a car, even if it only basic. Its also a life lesson, that if you loo after something it will look after you to a degree.

bobbarley said:
The problem is you can't tell someone not to buy a new car, it's a mistake you have to make yourself before you realise what a waste of money it was.

You can always argue about the merits/downsides of buying new or used. There isn't really a right answer there I don't think. Buying a new car certainly can't always be classed as a "mistake".

However the main problem with the girl in the OP is that she simply has not bothered to even take 10-15 minutes to do some research on what she should be paying, or what else she could get for the same money.

As I posted earlier, she could have got a brand new 125bhp Focus Titanium Navigation for less money, or saved her self 4k and got a brand new fiesta zetec 1.0l ecoboost(100ps).

Both those, for difference reasons, are markedly better options than what she has bought.

TacticalFish · 7 Feb 2017 at 15:36

I personally can't fathom the amount of debt some people get themselves into, just to have new and shiny things. I don't know if anyone else feels the same, but you won't want to have much debt when the economy inevitably hits the fan.

Vince · 7 Feb 2017 at 17:41

breadturbo;30477550 said:
It's on the parkers list

** it's also on the vauxhall website configuration thingy.

Good spot, I didn't think it could get much worse but apparently they still do the standard non twin port version. The words for this cannot be said on a family friendly forum. It's a vx line and has a kit so it looks good right?

Jono8 · 7 Feb 2017 at 17:44

Vince;30480346 said:
Good spot, I didn't think it could get much worse but apparently they still do the standard non twin port version. The words for this cannot be said on a family friendly forum. It's a vx line and has a kit so it looks good right?

It must be so horrible to drive with that amount of power

breadturbo · 7 Feb 2017 at 20:49

Vince;30480346 said:
Good spot, I didn't think it could get much worse but apparently they still do the standard non twin port version. The words for this cannot be said on a family friendly forum. It's a vx line and has a kit so it looks good right?

It's not that bad, all body coloured black alloys black carbon paint, I'm not a fan personally but I don't like small cars, the mondeo is small enough for me

Uther · 7 Feb 2017 at 21:02

Maybe she just thinks it looks nice. I doubt shes looked into it more than that.

Holst1981 · 7 Feb 2017 at 21:36

Uther;30481025 said:
Maybe she just thinks it looks nice. I doubt shes looked into it more than that.

I think that's fair enough.

If they are happy with £170 a month, it might not be the best car or best deal, but it's not awful.

Somebody needs to buy new cars so I can buy them second hand 10 years later

Don't point out their "mistake" now, let them enjoy it.
Help them to get a better deal next time.

Blackhawk47 · 7 Feb 2017 at 21:43

A 'mistake' would be buying some dodgy used car from a backstreet dealer. While I think buying 'nearly new' is the best way to own a car, I couldn't be bothered running a 20 year old car. Even if it is inexpensive to fix when it goes wrong, its a PITA.

Funny how people complain about other people buying new cars....if people didn't then good luck finding that 8 year old premium executive coupe for £10k.

Freefaller · 7 Feb 2017 at 21:58

I think for a lot of people paying per month is more attractive than buying outright. Most people can afford £170pm not many can afford £15k or whatever for a car.

Would I spend 170pm on a Corsa? No. But if it is what that person can afford and is happy with it then it's all good.

Zefan · 7 Feb 2017 at 22:09

Although I appreciate that this doesn't apply to all new car buyers, I view this sort of situation mainly as "ignorance tax", helped along with a little confirmation bias. People want to think they can afford things, no one really wants to feel poor, therefore the opportunity to confirm the feeling of one's relative financial stability, backed up by the fact that buying a new car means avoiding the potentially lengthy research and viewing process involved in buying a used car, is massively tempting. Carrot dangling, stick raised, true cost obfuscated just enough to fool those who want to be fooled. Chaching!

adolf hamster · 7 Feb 2017 at 23:50

Holst1981;30481137 said:
Somebody needs to buy new cars so I can buy them second hand 10 years later

Indeed, hooray to all the rich old people who buy premium cars then stick them in the garage for a decade, polish it twice a week and maybe drive it to the bingo fortnightly whilst keeping an immaculate service history

Barks · 8 Feb 2017 at 07:35

Freefaller;30481210 said:
I think for a lot of people paying per month is more attractive than buying outright. Most people can afford £170pm not many can afford £15k or whatever for a car.

Would I spend 170pm on a Corsa? No. But if it is what that person can afford and is happy with it then it's all good.

I think the ease, lack of risk and accessibility also play a part.

If you know what you're doing and you lack a deposit, it would make far more sense to take out a personal loan and buy a second hand car (IMO). Then again I can see why a young woman (or lad for that matter) who knows nothing about second hand cars and little about financing would probably feel safer just buying brand new. There's not much that can go wrong really.

One of my mates took out a massive loan to buy a second hand M car and got himself into a right mess. Couldn't afford the monthly repayments and had to sell of the car and settle the loan making a significant loss in the process

Joe T · 8 Feb 2017 at 07:49

Something about that deal doesnt stack up. Motorpoint are a used car supermarket - do they sell new cars?

Looking at their website it's full of these nearly cars, like this 16 plate 1.4 VX-Line with 11k miles

Deposit £880
£152 per month (49 months)
Final payment £3,711

The up front cash price of £8,799 is reasonable, but it's the 12.9% APR that's the killer.

Freefaller · 8 Feb 2017 at 09:32

Barks;30481634 said:
I think the ease, lack of risk and accessibility also play a part.

If you know what you're doing and you lack a deposit, it would make far more sense to take out a personal loan and buy a second hand car (IMO). Then again I can see why a young woman (or lad for that matter) who knows nothing about second hand cars and little about financing would probably feel safer just buying brand new. There's not much that can go wrong really.

One of my mates took out a massive loan to buy a second hand M car and got himself into a right mess. Couldn't afford the monthly repayments and had to sell of the car and settle the loan making a significant loss in the process

I of course totally agree - but for many, looking at it simply, "I can get a new car for £170pm" seems so affordable in the short term that they don't really think about it.

You and I, and most of motors would do as you have suggested.

breadturbo · 8 Feb 2017 at 14:42

Joe T;30481647 said:
Something about that deal doesnt stack up. Motorpoint are a used car supermarket - do they sell new cars?

Looking at their website it's full of these nearly cars, like this 16 plate 1.4 VX-Line with 11k miles

Deposit £880
£152 per month (49 months)
Final payment £3,711

The up front cash price of £8,799 is reasonable, but it's the 12.9% APR that's the killer.

It's probably similar I'm not sure, same car but hers only has 1400 miles on it.