Wifes new car..pic !

Morba · 3 Jun 2006 at 00:47

pinkegobox said:
well, she didn't pay 7,500 brand new. and of course it was on finance. wanted something a bit more reliable than a used car which is a bit of a lottery if you know _nothing_ about cars and have no family members/friends with any knowledge on cars either.

the first time i've ever had something i've posted ripped apart quite like that though, kinda fun.

and no, the tax thing is just a nice bonus. and she got it on a great finance deal, in fact i think she got a great deal... but that all depends on when you buy ... like end of the month and what they have in etc....

i wanted a second hand focus, but after seeing this i quite fancy getting one as it means i can get a much newer car, which as i pointed out before, is more peace of mind about problems etc. perhaps i'm just not trusting. and yeah, i understand buying new cars can also be a bit of a lottery. i just wanted to point out i think it's a great car for the price. of course, everyone else is likely to disagree.

2nd hand focus for £7.5k with cheap insurance and low tax... pretty much any pre 03 focus that isnt a 2.0L i guess. still, if you think that a good deal on finance is a good reason to buy that car, then fair enough :]

Sneaky Peaky · 3 Jun 2006 at 00:50

Unfair you guys. If we all took that stance nobody would ever buy a new car.

Everyone has their own reasons for buying new instead of second hand and they are as much about personal values as well as financial sense..

The point being made is that if you are in the market for a cheap, reliable, practical, fun *new* car then they are up there in the running..

Fugly I agree but hey, could have been one of those Daihatsu Copens that someone suggested

jamoor · 3 Jun 2006 at 00:52

Gilly said:
I certainly do. Buying privately with no knowledge is a bit of a lottery, and even then it doesn't take much to get an AA man to look over the car for you (I'd get this done anyway). Buying 2nd hand from a garage is not a lottery. And you can buy warranties with cars from garages if you do want peace of mind (and they'll typically offer some warranty anyway).

Buying a 7.5k car for 'peace of mind' when money is tight is pure madness.

yeah, you can buy a 2.5 year old car for 7k and spend the other 500 extending the warranty on it.

if you must have a warranty, get a hyundai, unless you are after 3rd party ones but tbh I haven't heard the best things about them.

[TW]Fox · 3 Jun 2006 at 00:52

Sneaky Peaky said:
Everyone has their own reasons for buying new instead of second hand and they are as much about personal values as well as financial sense..

It's rarely about financial sense, it's usually people who simply don't know any better or have inaccurate proconceptions about buying used.

If you've got money to burn fine but the amount of FINANCED brand spanking new car is just ridiculous.. they cant afford it so they get it anyway.. it's just a recipee for negative equity..

Gilly · 3 Jun 2006 at 00:54

Sneaky Peaky said:
Unfair you guys. If we all took that stance nobody would ever buy a new car.

Thats not really true. We were commenting on the situation described and how daft it was to buy new.

I've bought a new car myself in the past, and then bought nearly new shortly after. I haven't been put off buying new, but only if the situation suited.

jamoor · 3 Jun 2006 at 00:59

tbh we should be thanking the suckers er,, I mean people who buy new, because that means we can get the used ones!

Sneaky Peaky · 3 Jun 2006 at 01:01

ok - we have to assume that she thinks she can afford the repayments or whatever for a 7.5k car..

If so are you lot suggesting she should have bought a second hand one for 7.5K ? One with higher insurance costs, higher tax, lower mpg, poss higher interest rates on the loan but less depreciation ?

I don't see that as a compelling arguement even on the financials let alone any other personal preferences for buying new..

thedazman67 · 3 Jun 2006 at 01:06

Now that is ugly and look at the wheels where they come from a scooter

. Oh well as long as shes happy with it, thats all that matters

thedazman

Sneaky Peaky · 3 Jun 2006 at 01:08

btw the main reason we bought new was fear..

Fear that after plowing an obscene amount of money into the Forester recently that my dangly bits would have been chopped off for suggesting a 6 month old one

Gilly · 3 Jun 2006 at 01:21

Sneaky Peaky said:
If so are you lot suggesting she should have bought a second hand one for 7.5K ?

Certainly not.

You buy a car thats at least as good but has some miles on it (you'd be hard pushed to find a worse one

) for a lot less and you use the money you've saved from not buying new to run it if it has worse mpg.

Sneaky Peaky · 3 Jun 2006 at 01:25

Gilly said:
Certainly not.

You buy a car thats at least as good but has some miles on it (you'd be hard pushed to find a worse one ) for a lot less and you use the money you've saved from not buying new to run it if it has worse mpg.

So over 3 years it costs you the same and you've had a second hand one instead of a new one....ahhh, I got it now..

Gilly · 3 Jun 2006 at 01:37

Sneaky Peaky said:
So over 3 years it costs you the same and you've had a second hand one instead of a new one....ahhh, I got it now..

How would it cost the same?

I'd have a superior car and wouldn't have had the hit of depreciation...

Sneaky Peaky · 3 Jun 2006 at 01:50

Gilly said:
How would it cost the same?

I'd have a superior car and wouldn't have had the hit of depreciation...

My point is that in this example, if you are going for a superior car (I believe a focus was suggested), that the higher running costs in terms of extended warranty, lower mpg, higher tax, higher insurance, Mot costs, poss higher interest rate on the loan etc etc is going to be marginal over 3 years.
Therefore the financial arguement is not compelling. Plus all the other personal/emotive issues for buying new sway it even further..

Now if you had all argued that she should have got a 3 month old 107 demonstrator or the like then of course that would be a different story..

jamoor · 3 Jun 2006 at 01:54

Sneaky Peaky said:
ok - we have to assume that she thinks she can afford the repayments or whatever for a 7.5k car..

If so are you lot suggesting she should have bought a second hand one for 7.5K ? One with higher insurance costs, higher tax, lower mpg, poss higher interest rates on the loan but less depreciation ?

I don't see that as a compelling arguement even on the financials let alone any other personal preferences for buying new..

well for example, you buy your car for 7.5k. after 3 years its worth 3.5k.
you have also spent £2.3k on fuel (10k/yr miles 60mpg) lets say £1500 on insurance for 3 years £120 road tax over 3 yrs and £500 on servicing.
total cost - £8,420 (I guessed the depreciation by looking at figures for the 106)

OK then you have the 2.5yr old example

Ford focus zetec 1.6 say, costs 6k from a main stealer here with 2yrs warranty (I think) for an 2004 one.
parkers lists a 5yr old focus 1.6 as 4.2k. so you have lost 1.8k
you will have spent 3.3k on fuel (10k/yr 40mpg) lets pretend 1.8k on insurance due to higher engine, 300 on road tax and 500 on servicing.
total - £7,700
so the ford will be cheaper by 700 odd quid to run,
I *think* the car will have 2yrs warranty from ford because its sold via a ford dealer.
if not, you will have £700 for repairs or extended warranty.

Also the ford will be bigger, more kit, bigger engine etc etc.

Sneaky Peaky · 3 Jun 2006 at 02:00

Insurance for Mrs S with zero no claims bonus fully comp was £150..

Group 1 insurance - whats the Zetec ?

Even at £700 over three years with the higher risk of non warranty repairs I would call that marginal..

plus you haven't figured in poss higher interest rates on the loan, Mot costs, consumables are more expensive eg tyres, etc etc..

plus your assuming she places value on things like bigger engine, bigger size, more kit etc which may be untrue and weighed against her personal value of having a new car doesn't stack up

jamoor · 3 Jun 2006 at 02:05

Sneaky Peaky said:
Insurance for Mrs S with zero no claims bonus fully comp was £150..

Group 1 insurance - whats the Zetec ?

Even at £700 over three years with the higher risk of non warranty repairs I would call that marginal..

6 I think, would be best to run a quote

Financially, its £20 a month. It may seem marginal financially, but if you think about the difference in the car you will have, something 1 possibly 2 classes up from your current vehicle.

interest rates - don't really know about what deal you had on the 107
tyres should be allowed for as the servicing on the ford will be 330 leaving some left for the tyres.

But you are missing the point about the car bieng a much bigger and more luxurious car over the 107.
Even if it was a little more, it would be worth it.

Gilly · 3 Jun 2006 at 02:05

Sneaky Peaky said:
My point is that in this example, if you are going for a superior car (I believe a focus was suggested), that the higher running costs in terms of extended warranty, lower mpg, higher tax, higher insurance, Mot costs, poss higher interest rate on the loan etc etc is going to be marginal over 3 years.
Therefore the financial arguement is not compelling. Plus all the other personal/emotive issues for buying new sway it even further..

Now if you had all argued that she should have got a 3 month old 107 demonstrator or the like then of course that would be a different story..

We can take the Focus if you like.

1. Extended warranty? Not if its only a year or two old. Still under manufacturer warranty.
2. Lower mpg? Get lpg and have better mpg if you like

3. Higher tax? Very negligible difference.
4. Higher insurance?
5. MOT isn't needed until the car is over 3 years old.
6. Higher interest on the loan? Straws, clutching at?

Positives are then more room, better ride, more comfortable, better looking, nicer to drive, not as big a hit on depreciation, costs less so a better deal on the loan, maybe even pay it off with cash

It depends on the situation.

Sneaky Peaky · 3 Jun 2006 at 02:12

Gilly said:
We can take the Focus if you like.

1. Extended warranty? Not if its only a year or two old. Still under manufacturer warranty.
2. Lower mpg? Get lpg and have better mpg if you like
3. Higher tax? Very negligible difference.
4. Higher insurance?
5. MOT isn't needed until the car is over 3 years old.
6. Higher interest on the loan? Straws, clutching at?

Positives are then more room, better ride, more comfortable, better looking, nicer to drive, not as big a hit on depreciation, costs less so a better deal on the loan, maybe even pay it off with cash

It depends on the situation.

The guy has run the figures - see above - no straw clutching here, just more ammo

See the problem is you are all using your own personal judgements on what you value in a car. more room, better looking, more luxurious, etc etc, and thats fine for you. I would agree that you can get a better car against your criteria if you get a second hand one with those attributes.
All I am saying is don't assume they are the same for her - a new car, small and nippy with a cute face may be much more preferable in her eyes - and I still have yet to see an argument that says it's significantly financially better !

jamoor · 3 Jun 2006 at 02:14

Sneaky Peaky said:
The guy has run the figures - see above - no straw clutching here, just more ammo

See the problem is you are all using your own personal judgements on what you value in a car. more room, better looking etc etc, and thats fine for you. I would agree that you can get a better car against your criteria if you get a second hand one with those attributes.
All I am saying is don't assume they are the same for her and I still have yet to see an argument that says it's significantly financially better !

£700 is enough to go on a holiday with.

Replicant · 3 Jun 2006 at 02:15

[TW]Fox said:
If you've got money to burn fine but the amount of FINANCED brand spanking new car is just ridiculous.. they cant afford it so they get it anyway.. it's just a recipee for negative equity..

Think your been a little harsh here, the car will be very cheap to service and maintain during the first 3 years of its life and will depreciate by approximately £4K but given that there both graduates there salarys will likely rise by much more than the depreciation over that time, theres certainly a value to be put upon owning your very own brand new car, owning the latest model etc, plenty of people have been burnt by buying cheap seccond hand cars.