Yearly change, right or wrong..

aidankk

Ive got a budget of 12k a year to buy and run a car for work. Last year i bought a new honda civic 1.4 which now has 42k miles on the clock..

Im being quoted 4.5k to change to another new civic or the same for a new Lancer.

Couple of questions, if i leave for another year and there is 80k on the clock anyone have an idea how much it might be to upgrade to new.. Im told about 8k.

Suppose the real question is change every year or change every 2 years..

One other thing i will be spending 3-400 on the exisiting car in a few weeks if i dont change, as a resuly of a full service and 2 new tyres.

My own opinion is to maybe change again this year..

Any help greatly appreciated..

aidankk

anyone trying to make up my mind on this.

Thanks in advance

Wishbone Ash

aidankk wrote: »

anyone trying to make up my mind on this.

Thanks in advance

I know this is not what you want to hear.

I'd never worry about the resale value of a car. I never buy new as I prefer to let someone else take the hit on depreciation. I then drive around in luxury for a few years or even drive the car into the ground. When I'm finished with it I don't care if it worth €10,000 or €100. I use the car for me not for the next owner.

I wouldn't be caught dead in a new car (even though I could easily afford one)! :eek:

I realise that my views are not generally popular but what the hell.

Sandwich

42k miles in a year is huge. Averageis only about 12k. Car depreciation is a combination of time, number plate snobbery, and miles done. After one year the miles are high enough, but after two years, the miles will be seriously off putting to many people looking for a two year old car and the depreciation will take a heavy hit. Id say you may as well change it now, while its desireability is still high enough as a one year old number plate and miles are not yet into the worrying zone.

E92

See the VRT sticky. There is a price list which includes the prices for the Honda Civic. After July the car should become quite a bit cheaper to buy and certainly will be cheaper o tax. €150 to tax the 1.4 and €290 to tax the 1.8 if you buy the Honda after July. It's in page 10, post #190, and is an Excel file.

Surely you haven't done 42,000 miles in just one year? Surely it's 42,000 kilometres, cause it's an 07 and therefore would have a speedo in kilometres, which is about 26,000 miles or thereabouts?

Either way you should be driving a diesel at that kind of mileage, though the Civic is meant to be very frugal for a petrol car.

FuzzyWuzzyWazza

aidankk are you getting the money for the car from work or your own pocket?

From what you have said above I would change every two years if the money was mine, to change every year costs €4.5k a year or every two years costs €4k per year, so within two years you save yourself a grand.

If it is paid for by your employer, then whichever keeps you within your €12k yearly budget, if you want a new car and it won't cost you any more then your budget to buy and run then why not. The only down side to this os having to run in a new engine every time you buy new.

Personally I am like Wishbone Ash, I buy old and comfortable when I can find one I like.

aidankk

Getting the money from work, and it 42,000 kilometres.

If the price is going down then the value of the second hand model will surley come down by a similar amount so it would cost the same to upgrade..

Only thing if i wait till june, there will be 60k on the clock but ill have another 2.25k paid on on the lease..

Hard to know..

E92

aidankk wrote: »

Getting the money from work, and it 42,000 kilometres.

If the price is going down then the value of the second hand model will surley come down by a similar amount so it would cost the same to upgrade..

Only thing if i wait till june, there will be 60k on the clock but ill have another 2.25k paid on on the lease..

Hard to know..

Okay now this difference won't mtter, but the next time the car has to change it will matter, as is you buy now you pay no more than in July, buit on the other hand as you said yourself "If the price is going down then the value of the second hand model will surley come down by a similar amount" so buying now means you pay the higher price now but get the lower value come trade in time, plus the fact that a new one now will cost €320 to tax, whereas a July one will cost €150 to tax, so clearly the July one is going to be worth more, I mean who would pay the same amount of money for a car that will cost more than double the amount to tax every year?

Wishbone Ash

Does your employer expect you to do 42k a year in a 1.4 Civic.? :eek:

I'd say most Civics do way less than the average mileage (popular with OAPs) and potential buyers will be looking for a 2007 with less than 10k.

All the more reason to hold on to it methinks.

E92

Surely the employer should be giving the OP money to buy a diesel with that kind of mileage? I know its a 1.4 petrol, but a car like a diesel 1.6 Ford Focus claims to average over 60 mpg comparede with the Honda's average of 47.9 mpg?

bazz26

Surely if you change your current car to a 08 1.4 Civic you are going to be in the same situation again next year?

At 42,000 km a year you really should be looking at diesel cars, a two year old diesel car with 80k km will depreciate alot less than a two year old petrol car with 80k km.

The downside is that it will intitially cost you more to trade up from your current petrol Civic to a diesel car. But I still think you will save in the long term.