I buy new cars as i intend to run them into the ground however long that takes. I now buy new vans as i have had too many problems with buying second hand vans, my las van a 07 Ford Connect was a dog. I paid £6000 for it and paid another £4500 in repairs, so that tells me false economy.

Warranty, reliability and the knowledge that you know for sure that the car has not been mistreated or had hidden problems

 

I accept that cars are in general much more reliable but my "thought process" is that my car is always under manufacturers warranty and always has the best technology and economy available.

 

I also accept that I have a high depreciation cost but this is balanced by the fact that I have never spend a single penny on spares or repairs, other than regular servicing,  tyres and wiper blades for the last 15 years.

 

Service intervals have got longer and cost general cheaper. MPG in my last 4 cars (all similar sector diesels) as gone 44, 46, 53, 62 (all brim to brim over lifetime of the car)

Edited 26 May, 201412 yr by slider

I was looking at a Fabia Greenline estate and was seriously tempted by a new or nearly new one and thought hangon there is a perfectly good 1.2 clio down the road 11 years old! Took it out for a test only a short run but averaged 48 mpg! £500 later and the deal was done! In all honesty I don't regret choosing the 53 plate over the 63 plate! I've now started saving in order to get myself a project!

I think that was an excellent decision Toxic -

The price you paid for the Clio will of been two months of finance for the Fabia- I hate to owe money, I am owed a lot of money, but I would never happily walk into a situation that I would walk out of owing money for the next three or more years.

You never know what is going to happen in those three years regarding jobs etc.

To BossFox - I would say that the there is a definite keeping up with the jones scenario.

And having a 14 plate is to keep up with the neighbours or work colleagues who have just bought one themselves.

JRJG

Sent from my iPhone using Tapatalk

I have no doubt I'd have been far better off if I'd carried on running my five year old Bravo instead of buying new.

Some of us though, have to have a car below a certain age because of work. There's no doubt I could have got away with buying a 12 month old Rapid instead of a new Octavia and saved a small fortune.

Like Richard, I am a new car addict, and changing every year (and usually less). Has cost me £thousands over the years as well, but my problem is boredom, and has nothing to do with keeping up with the neighbours.

 

Also, I like to know the history from day one, and not rely on a salesmen's/private seller's word as to how the car has been treated/serviced (and that comes from bitter/costly past experience).

 

However, again like Richard, from a cost point of view, it does make little financial sense to buy new. So (reluctantly/financially), and because I am now retired, I shall be keeping my cars much longer in future. But I still intend to buy new when the time comes to replace, assuming finances permit that is.

 

Regarding the comment by toxcicvrs (post #19). Never "assume" that the neighbour's (6 monthly number change?) new cars are all on finance/PCP.  I agree that some 85% (official statistics) of new car sales are on finance of some sort, but that still leaves 15% that are not. Although I have purchased on 0% in the past, I usually pay up front - but no doubt my neighbours assume otherwise.

 

Interesting debate though.

We've only bought 1 car new (SWMBO's mk1 Fabia vRS), we did this as we had saved by running a few £1000 cars for several years and could afford to buy it new, we kept it for 3years and lost 40% of what we bought it for which felt acceptable for it considering we only had servicing to pay for during that time (no repairs).

 

We now look to buy 3-4 year old high(ish) milage ex lease cars & keep them for a couple of years, we don't do a huge amount of milage therefore the milage averages out and we end up with a well maintained car and don't loose much in depreciation over that time.

 

I also like to change cars so buying something new doesn't make financial sense, having said that I will probably keep the S-Max for a few more years as its better than anything I've had before and I've not enjoyed driving as much since I had my mk2 Fiesta sport

I've always done a mix of car buying habits. Over the last 11 years I have bought a total of 10 cars (mix of mine and motor for SWMBO). 6 have been new, 4 have been used. A couple have been paid for in cash with the remainder mostly on PCP.

I can hand on heart say I have never purchased a car for the sake of impressing the neighbours etc. my own needs and driving pleasure is all that interests me.

If you go into a new car purchase with your eyes open and aware it will cost you X ££££'s in depreciation but can afford that and are actively choosing to spend your money in this way then I don't see what the issue is.

For me personally car buying is fun but then again it's my only vice really so SWMBO doesn't mind too much.

I love hot hatches. Buying one of them either new or used is never a financial decision. It's all about how that car makes you feel and the smile it puts on your face.

A new PCP can occasionally stack up financially too. The Fabia vRS estate we have recently had is on a 0% PCP. I could have comfortably paid cash for it but why bother in that scenario. I can keep the money in the bank or invest it elsewhere.

Not saying any of this is right or wrong. We all do what suits us according to our wants/needs. Having said that I obviously don't agree with people getting themselves into stupid amounts of debt which they can't afford the payments on and then struggle. Cars are a luxury at the end of the day. As long as your priorities are right and family, financial security and planning for the future are high on your list of priorities then it's all good.

The same reason people buy houses they can't afford, clothes the can't afford, eat out in restaurants they can't afford. If someone's willing to lend it to them for an amount they can (hopefully) afford to pay back. Who are we to judge? Interest or not, that's a personal opinion on the amount of cash borrowed is worth the lending fee.

The benefits of warranty could outweigh the 3k depreciation, as does the servicing costs, the MOT's it doesn't need for 3 years etc. Obviously only in some situations.

I bought my 3 month old Octavia on PCP. Apparently they were 22k list price brand new, I'd like to think the 6k I saved was a pretty penny, not to mention the ease of trading my car in for an amount I wanted.

Now I'm not saying everyone was in the same position as me when they came to buy their car, however, who cares? You can't take it with you, if it's there, it's expendable, spend it. If you want a new car, buy one. If you want a 2nd hand car to save a few grand, then do that.

I won't ever buy a new car, I could easily afford the payments or if I saved for a couple of years to buy one outright but I don't see the point, in three years they loose at least 60% of their value and I'd say cars are most reliable between 2 and 6 years old as most recalls and niggles have been sorted in the first two years. I also will never have car finance, I had it once but didn't like the idea of paying every month so paid it off after 12 months. I always buy my cars at between 3-5 years old. The only finance I have is my mortgage which annoys me and I'll hopefully have that paid off in 10-15 years.

I suspect (without evidence) that a lot of new cars, especially expensive ones, are bought through businesses to avoid 20% VAT and other cost savings things you can do through tax.

 

For me having a private plate has probably made it easier to keep the car longer. I no longer see it every day and think, "ooh it's getting on a bit now", I also never have the odometer up just the trip. So I've only ever though about the condition of the car and not the numbers in front of me.

 

Bi-annual plate change means nothing to me now, doesn't even register. Plus I really don't give a **** about keeping up the with Jonses. If I did I wouldn't have picked a Skoda in the first place.

Edited 26 May, 201412 yr by Aspman

I suspect (without evidence) that a lot of new cars, especially expensive ones, are bought through businesses to avoid 20% VAT and other cost savings things you can do through tax.

 

 

VAT can only be be reclaimed by VAT registered companies on commercial vehicles/vans/pick-up's and the like, and not cars. There is a yearly tax "write down" on a company car, but that is not to be confused with VAT reclamation. 

It's all relative, if you have enough money to buy new without it concerning you that is what you will do as it gives you the freedom to chose exactly what you want. Depreciation is not just an issue with cars, electronics for example depreciate extremely quickly, it just hurts more with cars as they cost more.

I can hand on heart say I have never purchased a car for the sake of impressing the neighbours etc. my own needs and driving pleasure is all that interests me.

 

Same here.  I've only ever bought cars because I liked them and not because of what others may think.  In the past I've bought new from the showroom and used from both dealers and private sellers.  Before we had the children and were enjoying two reasonable incomes I hardly thought about the implications of depreciation.  Now that we have three children and one income I have to count every penny so my car buying antics are more considered and balanced. 

 

I couldn't say that I'd never buy new again as there's a lot to be said about owning a car from new and knowing that 99.9% of the miles have been done by yourself in a manner you're happy with.  I'm currently not financially able to justify a new car, hence my nine year old Ignis and five year old Vectra.  If things improve then I may be in a better position to buy new again but only if there's something I really want or think I can keep long term.

 

edit : Thinking about it, depreciation has worked for me on the Vectra.  When new it cost the best part of £28k in this spec.  I bought it for less than 29% of it's original value which is one hell of a saving.  I know it's not everyone's cup of tea but I've always wanted one and how else could I afford such an expensive car? 

New cars with free servicing represent the simplest means of motoring with the most transparent costs, plus a nice new car shine and smell to boot. The only issue is whether you want to spend that money or not.

Sent from my iPad using Tapatalk

Warranty, reliability and the knowledge that you know for sure that the car has not been mistreated or had hidden problems

 

I accept that cars are in general much more reliable but my "thought process" is that my car is always under manufacturers warranty and always has the best technology and economy available.

 

I also accept that I have a high depreciation cost but this is balanced by the fact that I have never spend a single penny on spares or repairs, other than regular servicing,  tyres and wiper blades for the last 15 years.

 

Service intervals have got longer and cost general cheaper. MPG in my last 4 cars (all similar sector diesels) as gone 44, 46, 53, 62 (all brim to brim over lifetime of the car)

 

Oh, and I forgot to mention the security of free roadside assistance (which I have only used once - when a socket wrench left under the bonnet by a dealer holed the DSG box on an Octavia!) )

I have gone the other way, I won't buy another new car and have returned to owning icons of the 80's and 90's which go up in value and are far more involving to drive than my company bmw bore box.

Have to admit one thing though....... sometimes it is nice to just get in the bore box and chill while driving.

Interesting question and I think a lot of it has to do with reliability and looks/image.

I had a mad few moments in the last few years with my first mk1 fabia vRS - I sold it for a brand new mk2 fabia vRS estate and loved it. Almost had it paid of then my wife got pregnant - I panicked and to reduce out goings chopped it in for a Rapid (cheaper a month and on fuel/tax etc) worst move I made.

If I had kept the vRS estate I would be finance free (I am anyway as I got a mk1 fabia vRS SE now anyway) and still have a new ish car.

As it happens we just moved, I got the above mentioned vRS SE and just got the wife a new fabia tsi dsg on 0%. She needed an auto as struggled with her golf and it was a bit tired.

The 0% makes sense as you don't pay interest on the depreciation.

Me older/faster manual

Her new slower/newer auto

I think something else to highlight that hasn't been discussed is that many many people don't know how a car works other than you turn the key, put fuel in it, and go. Therefore how can they ever be expected to buy a second hand car that isn't a dog?

 

My experience of traders/second-hand cars is that 90% of them will be covering something up about the history, and will only offer that information if directly questioned/you know what to look for! There are plenty of brands that although reliable and popular now, they might not have been 10 years ago but the general population wouldn't know that... Then there are the cars that are always going to fall apart after 10 years that are mostly French made... I think I looked at 10 Fabias before I bought the one I have, and even that we missed the respray on the passenger's side before purchase! Then there is the increasing number of fake service books circulating, too... The number of people I have met who don't service their car, ever, unless it needs work doing at MOT is slightly shocking, too. So why do they buy new? Their own security as they can't tell the difference between the good and bad second-hand.

I've always bought new until the golf and I won't be buying new again , you loose so much money when changing again , I specked a fabia elegance with all the toys I could and I lost so much £1000 of pounds it was silly , the next car will be a couple of years old and hopefully a jag

Edited 26 May, 201412 yr by seboni121

I've always bought new until the golf and I won't be buying new again , you loose so much money when changing again , I specked a fabia elegance with all the toys I could and I lost so much £1000 of pounds it was silly , the next car will be a couple of years old and hopefully a jag

 

 

 Very nice motor the XJ, it puts into question spending £18k on a Rapid.

Cars are a luxury at the end of the day. As long as your priorities are right and family, financial security and planning for the future are high on your list of priorities then it's all good.

 

Exactly.

It's a matter of prioroties.

But outside influences seem to shape these?

 

Would we buy as many new cars if we weren't on here (or car forums in general) where people are always sharing thier newist lump of metal they'll be losing £8,000-£10,000 on over the next three years.  Or being so up to date on what is happening in the car world.

I subscribe to Auto Express, so am getting a weekly update on what's coming out and how wonderful they are.  Evo mag too.

 

When we bought our two red Yetis in March 2012 I was fortunate enough to pay cash for them.

Since then I've chopped and changed a fair bit.  Sampled a lot of vehicles and had some good experiences, at a cost.

But looking forward I've realised that if I could be happier with an older car or not get bored of a new one and keep it a long time I could potentially retire earlier than expected.  Getting my car hobby under control would take years off it.  Quite a lot of years.

 

I know several people that pay £20k for a car, let it drop to £10k over three years and then chop it in to start again.

While paying interest on top and complaining they can't save up enough to buy a house...

Maybe it's just priorities that I seem to find a bit difficult to understand.

If you can afford it, it doesn't mean there aren't better things to do with the money.

 

Or is it such a special feeling to buy a new car, order it and take delivery that people are compelled to do it?

I've done it so many times now I am quite frankly sick of it and get no real pleasure from the process.  It's like buying tyres.

My wife compares it to the guy in the film "Brewster's Millions".

 

Overall I think I'm seeing a shift in my opinion.

When I see someone fuelling their ego by showing off a new Audi/BMW/Merc I tend to just think they have a self esteem problem.

Otherwise they wouldn't need the appreciation from others who they rarely ever communicate with.

It's a car and financed.  You are the dog's danglies, truely epic.  Is that want you wanted to hear?

Flame suit on... :peek:  crawling back under my rock now...

What is amazing is when you look around and see how many cars are actually around. Take your average supermarket car park. 200+ cars, all bought new at some point. And some of the colours! Someone actually asked for that.

I'd never ever discourage someone from buying new.

 

After all, if they didn't then there wouldn't be the 2 to 3 year year old bargains around that I pick up every 10 years!

If you can afford it, it doesn't mean there aren't better things to do with the money.

 

 

THIS!

What is amazing is when you look around and see how many cars are actually around. Take your average supermarket car park. 200+ cars, all bought new at some point. And some of the colours! Someone actually asked for that.

 

Like Fantasy Green Fabias :P