Worth getting a new car over used?

ultim · 29 Mar 2009 at 10:13

Hi,
I was after an used 2007 Honda Civic (EX trim). The prices seems to be around 11-12k. However at some online car sites (buyacar.com), they are selling brand new cars for around 15K - Over 3k off the original price.

Is it worth spending the extra 3-4k on a new car?

Lopéz · 29 Mar 2009 at 10:14

Generally, no.

CrazySpeaker · 29 Mar 2009 at 10:14

Probably not unless it comes with some kind of special offer or extended warranty etc.

paradigm · 29 Mar 2009 at 10:15

Just remember that your £15k "new" civic will only be worth the £11k that you are looking at spending on "used", the second you drive it off the forecourt.

Howard · 29 Mar 2009 at 10:17

No, let someone else stomach the depreciation

Berger · 29 Mar 2009 at 10:19

paradigm said:
Just remember that your £15k "new" civic will only be worth the £11k that you are looking at spending on "used", the second you drive it off the forecourt.

Well no it will be worth slightly more if 07 cars are going for 11-12k then an 09 would be worth more than that given it will have less miles and more warrenty remaining....

ultim · 29 Mar 2009 at 10:20

The way im thinking about it is, if i sell the brand new car in 2 years time for £11k, im only losing 4k. Similar to what i will lose buying a 2007 Civic to begin with. True?

CrazySpeaker · 29 Mar 2009 at 10:22

ultim said:
The way im thinking about it is, if i sell the brand new car in 2 years time for £11k, im only losing 4k. Similar to what i will lose buying a 2007 Civic to begin with. True?

You would probably lose a little bit more.

Howard · 29 Mar 2009 at 10:23

And you're still spending more in the first place, for the same car

lordrobs · 29 Mar 2009 at 10:23

IMO if you can comfortably afford the car you want brand new then I would strongly consider buying new over used.

Personally I can't see me buying new for a long time because I will always be of the "but if I go a bit older I can get ______ " mentality.

Meridian · 29 Mar 2009 at 10:44

CrazySpeaker said:
You would probably lose a little bit more.

Agreed - it's difficult to see a car that cost £15k new being worth £11 in two years. My ballpark guess would be more like £9k. And that assumes the economy has completely recovered.

M

ultim · 29 Mar 2009 at 11:18

Meridian said:
Agreed - it's difficult to see a car that cost £15k new being worth £11 in two years. My ballpark guess would be more like £9k. And that assumes the economy has completely recovered.

M

Its 15k after discount! The car original price is 18k

CrazySpeaker · 29 Mar 2009 at 11:20

ultim said:
Its 15k after discount! The car original price is 18k

On what spec Civic is it?

ultim · 29 Mar 2009 at 11:30

CrazySpeaker said:
On what spec Civic is it?

2.2 EX

Janesy B · 29 Mar 2009 at 11:33

If you can easily afford it then why not. Otherwise you'll loose a hell of a lot of money. Buying new only really makes sense if you're going to keep it for a fair while.

timbob · 29 Mar 2009 at 11:36

Janesy B said:
If you can easily afford it then why not. Otherwise you'll loose a hell of a lot of money. Buying new only really makes sense if you're going to keep it for a fair while.

Or if you get into the "new car every 3 years" routine, and are happy paying £x a month to always have a nice new car, under warranty with free servicing.

wez130 · 29 Mar 2009 at 11:39

timbob said:
Or if you get into the "new car every 3 years" routine, and are happy paying £x a month to always have a nice new car, under warranty with free servicing.

I was debating this myself, i tend to go 2-3 years then buy another car, but never new though. But the negetive side of this is you'll never own your car unless you pay the heavy final payment after 3 years. Add to this on a PCP, you have limited mileage and get charged for every mile over you go too. So basically you're hiring a car.

Meridian · 29 Mar 2009 at 11:45

ultim said:
Its 15k after discount! The car original price is 18k

In two years time that won't matter.

M

iaind · 29 Mar 2009 at 11:55

Pros and cons either way I guess, depends where your priorities lie.

You'll be paying a few k more in depreciation for the sake of another 2 years of warranty and the knowledge that the car's never been abused.

How long would you expect to keep it for?

Kappa · 29 Mar 2009 at 13:00

as always, and its never said, depends how much that extra money means to YOU, not to anyone else, it may not be a lot of money to you but a lot to someone else