Are you crazy to buy a new car these days???

Zascar

Sunday's episode of Top Gear was brilliant, especially the Sub £7k challenge. It's quite staggering the massive hit that the high end cars have taken in the second hand market. Ok they kinda went to extremes with some very cheap yet very big & fast cars - and James May might be right in the fact that they could very well explode or generally cost a small fortune to maintain. However, if we take a bit of a more realistic approach to it - it kinda shows you'd have to be nuts to buy a brand new mid-range car these days considering the incredible deals you can get on way better cars with a few years/miles on the clock for considerably less money.

Every day in traffic I see '10 and 11' mid range cars that people have spend 20k, 30k, 40k+ etc, and really I think they must have lost their marbles. I just cannot understand why someone would go spend a considerable amount of money on a new Avensis or something. Yes it may be brand spanking new with zero miles and that new car smell, but is that really worth paying all that money - when realistically you can probably a far better car which is a few years old and still have a chunk of cash left over to pay for your insurance tax and petrol? When you buy brand new you are going to loose a significant chunk of its value the moment you drive it off the fourcourt, and then a few years down the line it could have even lost half its value. My heart really goes out to these people who went out and brand new hugely expensive big gas guzzlers just before the peak of the boom and now they are struggling to sell them for a fraction of the balance left on their finance plan. But some people are still doing it, they must be completely nuts!

TestTransmission

Zascar wrote: »

I just cannot understand why someone would go spend a considerable amount of money on a new Avensis or something.

I've never understood it tbh.I feel the same with folks who buy a new/newish car and get a poxy 1.4 or 1.6 diesel to save some money on tax and diesel and then scrape on extras and features.Worst thing is ,majority don't do enough mileage to justify a diesel in the first place.

Agricola

Yes, but I was one of those people saying this in the height of the boom. Imo, unless you are so rich that you can just buy a new car outright with no loan to think about, and hence depreciation doesnt bother you either, then second hand is the only way to go.

MugMugs

new car smell!

cadaliac

Well, they obviously have the money for it.
There are very strong arguments for new cars - lease plans, rentals, warranties and (debatable) resale value.
Some people look at the depreciation over 3 years and are willing to accept the loss over a 3 or 4 year period.
Some people couldn't be bothered and just want a new plate, no matter what the cost.
Personally, I don't think I will ever own a brand new car - unless it is work related.

R.O.R

If nobody bought these new cars, there would be no lovely second hand cars to buy at a fraction of the cost of the new ones......

Profound stuff :pac:

roosterman71

Without all these brand new cars been sold, there'd be no cheap bargain second hand cars for you to buy. So instead of feeling sorry, be grateful (damn you R.O.R and those 3 minutes I spent reading and typing!!)

Agricola

R.O.R wrote: »

If nobody bought these new cars, there would be no lovely second hand cars to buy at a fraction of the cost of the new ones......

Yep. There will always be people who want the piece of mind, warranty, or just the current years plate that a new car gives you. The rest of us should thank them!

Still buying a new Focus or Auris etc when the totol cost of motoring could put you in an older but much better car for no extra cost is a tad looney for folks that fancy themselves as enthusiasts. Fair enough for folks who have f all interest in cars but just want a new one, still sofakingweetoddad though.

Zascar

I guy I know bought a nearly new Honda Civic, and a few years later upgraded to an almost identical model which just because he wanted a warranty. He paid several thousand Euro to upgrade - I tried to tell him the likelyhood of his car having a problem that would cost more than that to fix was almost zero, but he would not listen...

Mar4ix

On brand new vw polo 1.6 tdi, what we got via scrappage scheme last year , we are saving at least 1k a year compare to a petrol rover 414 '97 what we had, also saving on parts and labor. i am not so rich to keep old car. cheapest 08 diesel polo last year (what i was after, but was sold) was 13k euro, brand new my polo cost 15 ish.k. euro after scrappage discount..
I never regret i got that new car, worth every cent invested, and goin keep for loooong while.

coylemj

Scrappage and company car renewals probably accounts for a large % of the new car sales. I doubt that there are many people with cash just simply upgrading for the sake of it, especially when they have to be getting a crap trade-in on their old car.

bryaner

Mate of mine bought a 04 E55 Amg recently for €14,500, I shudder to think what it cost spanking new..

cadaliac

I wonder what the average cost of depreciation is in this country for average cars like the Avensis/Mondeo or Focus/Auris from new.
I would hazzard a guess at at least €3k a year? More the bigger you go....???

cadaliac

cadaliac wrote: »

I wonder what the average cost of depreciation is in this country for average cars like the Avensis/Mondeo or Focus/Auris from new.
I would hazzard a guess at at least €3k a year? More the bigger you go....???

A friend paid €7000 to go from an 08 petrol Corolla to a 2010 petrol Corolla, if he was going petrol to diesel it would have been more no doubt.

Seperate

There's not much point in talking sense about this sort of thing on here, so all I will say is that not everyone needs, wants or can afford to run an M5.

Blazer

I bought my last car new in 2005, paid 28.5k for a 1.6 L nissan primera.
14 months later it was only worth half that thanks to Nissan's 2 for 1 offer in 2005 (2 months after I bought it).
I traded it in last week (for about 3.5K-going for approx 3.8k on donedeal) and bought a BMW 520D.

One of these is approx 54k for the bog standard one and mine had the authenic leather, bluetooth kit, visibility kit etc so add in another 5k to the price.
This was a 2007 model so a car you paid approx 58K for in 2007 I was able to buy last week for 19.5k.
You'll get them for around 17k (a 38K drop in 4 years) but I went with the 2 year warranty etc for piece of mind.
Unless I won the lotto I'd never buy a new card again...it's only a mug's game.

maidhc

Zascar wrote: »

Every day in traffic I see '10 and 11' mid range cars that people have spend 20k, 30k, 40k+ etc, and really I think they must have lost their marbles.

A new Focus costs about €20,000. It should do 10 years & 200,000 without significant unscheduled costs (probably far more). It will be worth €2,000 at the end of those 10 years. That is €1,800 per annum the car will cost, and not a million miles away from Bangernomics.

You can of course buy a 08 530d, then spend x on the suspension, y on injectors and z on turbos.

Personally I would love to be able to buy a new car more frequently than I do, and not waste time on maintaining something as inherently boring as modern cars.

Theboinkmaster

A strong argument is to get the car you want ie with your factory fitted options.

I want a 330 or 530 but there's very few with decent spec in Ireland, with my choice of colour/trim etc. The amount of 318s with cloth seats in this country is just depressing. I'll end up going to the UK to get one.

MrDerp

There's no mystery to it at all. A lot of people are simply unable to comprehend the money they are spending. It's the very reason we had a housing boom. They think in terms of monthly outgoings.

Go to daft or my home and pick a house at random. Then look at the ads for mortgages: "Own this from 1,213 per month". Forget about the terms that make up this figure, they get a sucker in the door and they sign up to a 1,400 per month mortgage.

So, say a guy is earning 2500 per month, net. He goes halves on the mortgage which 'costs 1400 per month' (he's oblivious to overall cost of finance). He now has 2500-700 = 1800 per month. Loads left to get that new car he's been promising himself. So off he goes to the Toyota website.

'If I put 2,500 down on a Toyota Avensis I can get the rest on finance. So lets see, 5 years on a 25k car (with 2,500 down) = 461/month, or 106.53/week! Sweet! I can have a new car!'

So he's now got 1300 per month left, which he agrees with the wife is 'loads'. He doesn't save, he just buys. In fact, if he didn't have a trade in, he probably took the 2500 down payment off the credit union, which is costing him pittance at another 120/month or whatever.

These same people then borrow for their holidays etc. As soon as a paycut comes, they're ****ed, because they've built a web of credit based on their net pay, and they can't comprehend giving up any of these luxuries.

None of my team at work, all earning north of 50K, some far more so, have ever bought a new car. The people I know that have bought new cars all earn a bit less than that. They justify it to themselves by thinking in terms of their monthly income and out goings. They do not understand money.

polod

buy a new audi a4 or vw golf they hold threr money very well.........................still id buy a secondhand one even if i had the money for a new one

coylemj

polod wrote: »

buy a new audi a4 or vw golf they hold threr money very well.........................still id buy a secondhand one even if i had the money for a new one

In the case of an A4, diesel only. Hardly anyone is buying petrol A4s any more.

coylemj

Theboinkmaster wrote: »

A strong argument is to get the car you want ie with your factory fitted options.

But if you buy a new car and load it up with options you better be planning on holding on to it for a while because you won't get much value for the extras when selling the car.

There are some 'extras' that are pretty much mandatory in certain cars, auto in an E-class being an example but for a lot of cars the extras will do very little for the secondhand value.

Leasing companies depreciate optional extras over the life of the lease so they assume zero residual value.

GavMan

MrDerp wrote: »

There's no mystery to it at all. A lot of people are simply unable to comprehend the money they are spending. It's the very reason we had a housing boom. They think in terms of monthly outgoings.

Go to daft or my home and pick a house at random. Then look at the ads for mortgages: "Own this from 1,213 per month". Forget about the terms that make up this figure, they get a sucker in the door and they sign up to a 1,400 per month mortgage.

So, say a guy is earning 2500 per month, net. He goes halves on the mortgage which 'costs 1400 per month' (he's oblivious to overall cost of finance). He now has 2500-700 = 1800 per month. Loads left to get that new car he's been promising himself. So off he goes to the Toyota website.

'If I put 2,500 down on a Toyota Avensis I can get the rest on finance. So lets see, 5 years on a 25k car (with 2,500 down) = 461/month, or 106.53/week! Sweet! I can have a new car!'

So he's now got 1300 per month left, which he agrees with the wife is 'loads'. He doesn't save, he just buys. In fact, if he didn't have a trade in, he probably took the 2500 down payment off the credit union, which is costing him pittance at another 120/month or whatever.

These same people then borrow for their holidays etc. As soon as a paycut comes, they're ****ed, because they've built a web of credit based on their net pay, and they can't comprehend giving up any of these luxuries.

None of my team at work, all earning north of 50K, some far more so, have ever bought a new car. The people I know that have bought new cars all earn a bit less than that. They justify it to themselves by thinking in terms of their monthly income and out goings. They do not understand money.

Looking at things in terms of incomes and outgoings is simply budgeting. It's not a case of not understanding money

Suzie Sue

First of all I don't but new cars myself. BUT

If our house only needed one car and I didn't do big miles, I would buy new every year without hesitation. When I retire we can go down to one car, and I'm going to buy new every year. I'm so sick of second hand cars.
I could buy a lovely new shiny little Panda / Note / Pixo or whatever and change often at relatively not too much cost.

You need to think very carefully before running down new car buyers.

- The less new car buyers, the more expensive second hands become.
- If buying new in the UK & Ireland goes out of fashion , we are all SCREWED. We'll all end up driving Mad Max junkers.
- There is nothing like a new car, nothing. Nothing else ever ever comes close.
- No one elses dirty ASS has sweated and farted for hours in your seat.
- No finding other peoples dried up boogers and fingernail clippings in inaccessible places.
- Everything works, or is well covered under warranty.
- No getting fleeced anymore with labour and parts. (Lets face it we are all being fleeced with parts and bad designs, and used owners take the biggest hit here)
- If you're into technology you get the latest technology the rest have to wait years for.
- In rural areas, the car is not associated with any previous owner, where everybody knows everybody, and the car they used to drive, and who may have had a less than favourable reputation.
- Some people have worked out on their budget that they can afford to drive a new car EVERY year for a certain level of depreciation per year, and one service. Yes a second hand car will have less depreciation.
- Most new cars are on loan/finance deals that people just roll over in to the next new car, so they can drive new every few years.

- As for the massive depreciation on Luxobarges, do you think anyone who can afford a Luxobarge new with cash, ( and they are nearly always bought with no finance), gives a toss about depreciation ? It's peanuts to them. They don't live in the same world as me or you, so enjoy their second hands, and don't put them off buying new.

The more new cars that are bought every the year the better for everyone.

We don't want this in the future :



We want this in the future, new or slightly used :



So wise up folks, and stop running down new car buyers
NEW CAR BUYERS WE LOVE YOU, AND WANT TO BE YOU, WE'RE JUST JELOUS
So relax, take a chill pill, do your own thing, buy new or used, it's all cool.
.
.

polod

coylemj wrote: »

In the case of an A4, diesel only. Hardly anyone is buying petrol A4s any more.

sorry yeah meant diesel of course now;)

FrontDoor

All depends on the car.

A yaris/polo type car on scrappage was probably a very good deal relative to second hand prices.

A new mondeo is lunacy compared to the price of 2009/10 ones in the UK.

A new merc/bmw will see you lose massive amounts of money whatever way you look at it.

I can see some isolated cases where it makes sense apart from just being well off and not having to worry about such insignificant things as money!

My auld lad got his avensis in 04. He got a cheap three year loan. He got the top spec model with all the stuff he wanted. Car now has ~90k miles on the clock and all he has spent on it each year has been ~250 on a service and ~200 on 2 new quality tyres each year since purchase. His plan is to keep the car for as long as it remains viable to run. It is in immaculate, and i mean that, condition and the engine is like new(oil changed every 6kmiles and comes out clear every time). He argues that it makes sense for him to buy new because he looks after the car so well and 7 years later he has a cleaner car than most that are 2 years old and if he bought a 2 yr old car he could not be 100% that it wasn't abused.
Before that he had a 93 corolla from new that right up to selling it for 3k in '04 never cost anything other than service and tyres.
I suppose if you really plan on looking after a car and keeping it for a long time then it can make sense.

MrDerp

GavMan wrote: »

Looking at things in terms of incomes and outgoings is simply budgeting. It's not a case of not understanding money

Not planning for a loss of income is not good budgeting. Buying everything on tick because you can afford the monthly payment is not good budgeting. Have a look over on www.askaboutmoney.com in their 'Money makeover' section. You'll see what I'm on about.

1100/month of my salary goes into two savings accounts. 600 is long-term towards a deposit for a house (saved) and stuff like cars. 500 is for short term stuff that will definitely occur in the next year - weddings to attend, motor tax, motor insurance, car maintenance, a holiday.

If I lose my job in the morning I can pay my half of the rent and bills out of the dole, and I'm covered for my car upkeep and weddings out of savings, and won't go on a holiday. I can cut to the bone in a second and I'll never have any creditors bullying me about loans.

As a treat this year, I traded in my old car and put 6K of savings with it and got myself an 07 Volvo s40, which I'm really happy with as its well specced and nice to drive.

I remain debt free.

So tell me, who understands money better? Me or the hypothetical guy in my earlier post?


Edit: Just to add, I'd love to feel like I can afford a new car, and would buy one if I could. But I look at it like this: I wouldn't in a million years take 20K out of my bank account and spend it on a new car. I transfer that emotion to a 20K loan, despite how attractively small the monthly payment might be, and say 'no way'.

Blazer

Suzie Sue wrote: »

You need to think very carefully before running down new car buyers.


- There is nothing like a new car, nothing. Nothing else ever ever comes close.

Not true...
I bought my 2nd car brand new and it gave me nowhere the feeling I'm currently getting from the 4 year old BMW I just bought...driving it brings a smile to my face whereas with the new car it was just a means of transport.
Sure a new 520D would be even better but I'm not going to waste 55K of my money on one when I can pick it up a 4 year old one for 38K less.

Henry Ford III

Cars (with few exceptions) depreciate. New cars depreciate faster. In the market we have the demand is for lightly used diesel engined cars with low tax. We are obsessed by it, and it doesn't make a lot of sense, but that's the way it is.

Extras in general are a waste of money. As always there are exceptions. I got upgraded alloys & tyres, rear privacy glass, bluetooth, voice control stereo/phone, & ipod connectivity for €332 on a new car, which I thought was pretty decent value, and which will help it resell. Annual road tax was €104 btw.

johnos1984

MrDerp wrote: »

So tell me, who understands money better?

Debt aversion shows you cannot budget also

naughtysmurf

Zascar wrote: »

Sunday's episode of Top Gear was brilliant, especially the Sub £7k challenge. It's quite staggering the massive hit that the high end cars have taken in the second hand market. Ok they kinda went to extremes with some very cheap yet very big & fast cars - and James May might be right in the fact that they could very well explode or generally cost a small fortune to maintain. However, if we take a bit of a more realistic approach to it - it kinda shows you'd have to be nuts to buy a brand new mid-range car these days considering the incredible deals you can get on way better cars with a few years/miles on the clock for considerably less money.

Every day in traffic I see '10 and 11' mid range cars that people have spend 20k, 30k, 40k+ etc, and really I think they must have lost their marbles. I just cannot understand why someone would go spend a considerable amount of money on a new Avensis or something. Yes it may be brand spanking new with zero miles and that new car smell, but is that really worth paying all that money - when realistically you can probably a far better car which is a few years old and still have a chunk of cash left over to pay for your insurance tax and petrol? When you buy brand new you are going to loose a significant chunk of its value the moment you drive it off the fourcourt, and then a few years down the line it could have even lost half its value. My heart really goes out to these people who went out and brand new hugely expensive big gas guzzlers just before the peak of the boom and now they are struggling to sell them for a fraction of the balance left on their finance plan. But some people are still doing it, they must be completely nuts!

We bought a new car this year and would like to think all marbles are safe & sound.
There are many reasons why someone would choose a new car over a used one.
The condition of the one currently been driven
It's use for purpose now compared to when it was first bought (things change)
Can we afford it
Long warranty compared to a 3 / 6 month one on a 2 / 3 yr old car
Fuel economy
How long do we plan to keep it (long time)
plus many others

Things have changed since the so called boom, credit is more difficult to get, people aren't just rambling into dealerships and driving a new car out the door an hour later, they are thinking long and hard before the decision is made. So give them credit for that.

Most sensible people understand things like depreciation, that the new car smell won't there after a while and usually don't have a fixation with what the first two digits on the plate are.

Over the years, I've driven old ones, new ones and in between ones and as a general rule tend to buy what I can afford & what best suits our needs at the time. Never bought the car I really wanted because I did my sums and I couldn't afford it!!!!!

Don't mean to sound harsh but if somebody bought a vehicle that they can now no longer afford , maybe they didn't put enough thought into the purchase on day one, like taking a long look at the repayment schedule, their job security etc, a purchase which will, with the exception of buying a house, probably be their largest financial purchase.

So IMO, buy what you want, what suits your circumstances, new or old, just be reasonably sensible as best you can before you commit to buying.

MrDerp

johnos1984 wrote: »

Debt aversion shows you cannot budget also

Ha ha. Nah, not averse, sure am I not saving for a deposit so that I can take on the most mental expensive debt of all in a mortgage!

I'll probably have a car loan again, some day, but not until that mortgage is started and I have a grasp of my finances - I'll be 30 next year *. I'll probably have 10-15K cash + a 10K loan for my next car, but I still won't buy new - I'll be getting a 3/4 year old car but a class up from what I drive now.

* Hmmm. Under 30, driving a volvo, savings and no debt. Maybe you're right, I am a little odd!

GavMan

MrDerp wrote: »

Not planning for a loss of income is not good budgeting. Buying everything on tick because you can afford the monthly payment is not good budgeting. Have a look over on www.askaboutmoney.com in their 'Money makeover' section. You'll see what I'm on about.

1100/month of my salary goes into two savings accounts. 600 is long-term towards a deposit for a house (saved) and stuff like cars. 500 is for short term stuff that will definitely occur in the next year - weddings to attend, motor tax, motor insurance, car maintenance, a holiday.

If I lose my job in the morning I can pay my half of the rent and bills out of the dole, and I'm covered for my car upkeep and weddings out of savings, and won't go on a holiday. I can cut to the bone in a second and I'll never have any creditors bullying me about loans.

As a treat this year, I traded in my old car and put 6K of savings with it and got myself an 07 Volvo s40, which I'm really happy with as its well specced and nice to drive.

I remain debt free.

So tell me, who understands money better? Me or the hypothetical guy in my earlier post?


Edit: Just to add, I'd love to feel like I can afford a new car, and would buy one if I could. But I look at it like this: I wouldn't in a million years take 20K out of my bank account and spend it on a new car. I transfer that emotion to a 20K loan, despite how attractively small the monthly payment might be, and say 'no way'.

No one really cares about your personal financial well being. If you're saving that kind of bread, more power to you. But no one gives a toss.

Look, it goes without saying that if you budget down to your last penny on loan payments and bills you'll go bang if you suffer a loss of income

However, it's all relative if you're coming out with 2500 p/m wages then say 400 quid plus say 700 quid for half your mortgage is hardly living on the edge. Basically that would leave 1300 for bills, savings and contingency. You'd want to be taking a hell of a pay cut to find yourself in trouble then (like 30%).

Anyone who is taking a loan for a deposit or 2 week holiday is basically an idiot and there's no accounting for idiots.

It's sounds basically like you're chastising people for budgeting their money out month by month.

MrDerp

MrDerp wrote: »

Not planning for a loss of income is not good budgeting. .............If I lose my job in the morning I can pay my half of the rent and bills out of the dole, and I'm covered for my car upkeep and weddings out of savings, and won't go on a holiday. I can cut to the bone in a second and I'll never have any creditors bullying me about loans...................So tell me, who understands money better? Me or the hypothetical guy in my earlier post?


.............

MrDerp wrote: »

...............
I'll probably have a car loan again, some day, but not until that mortgage is started and I have a grasp of my finances - I'll be 30 next year *. I'll probably have 10-15K cash + a 10K loan for my next car, but I still won't buy new - I'll be getting a 3/4 year old car but a class up from what I drive now..............

So at the moment you are saving and if you were on the dole could pay your rent and run your car and use your savings.

In a years time you'll have a mortgage and a €10,000 car loan, what happens if you lose your job then?

Me thinks you'll be an awful lot like the hypothetical guy you mentioned earlier.

MrDerp

RoverJames wrote: »

So at the moment you are saving and if you were on the dole could pay your rent and run your car and use your savings.

In a years time you'll have a mortgage and a €10,000 car loan, what happens if you lose your job then?

Me thinks you'll be an awful lot like the hypothetical guy you mentioned earlier.

All of this is dependent on economic circumstances in the future, we're a two income house, my mortgage won't be much more than my rent (sensible, sensible), and my car by virtue of paying half in cash would always be worth more than my car loan. It's not a 20K car loan for a 20K car.

323

Theboinkmaster wrote: »

A strong argument is to get the car you want ie with your factory fitted options.

I want a 330 or 530 but there's very few with decent spec in Ireland, with my choice of colour/trim etc. The amount of 318s with cloth seats in this country is just depressing. I'll end up going to the UK to get one.

Go to UK, almost all expensive factory options here are fitted as standard there.
Got a 1 year old A6 last year (11 k miles), with spec not offered in Ireland. even after the considerable VRT bill still a hugh saving. much less than half of new price here and 30% less than closest spec of same age used car here.

As with most european cars has a 3 year warrenty EU wide even though the motor industry in ireland will never honour more than 1 year in my experiance, take the car to north if any problems and they are generally happy to honour the warrenty.

Anyone buying a car new or used in Ireland is mad.

Suzie Sue

Sc@recrow wrote: »

Not true...
I bought my 2nd car brand new and it gave me nowhere the feeling I'm currently getting from the 4 year old BMW I just bought...driving it brings a smile to my face whereas with the new car it was just a means of transport.
Sure a new 520D would be even better but I'm not going to waste 55K of my money on one when I can pick it up a 4 year old one for 38K less.

Grand if you can't affort a new 520D, nothing wrong with that. Make no mistake, for some people 55k is peanuts, and so fair play to them and their sweaty ass for buying us new cars. Where do you think your next second hand 520D is going to come from ?

MrDerp

MrDerp wrote: »

All of this is dependent on economic circumstances in the future, we're a two income house, my mortgage won't be much more than my rent (sensible, sensible), and my car by virtue of paying half in cash would always be worth more than my car loan. It's not a 20K car loan for a 20K car.

So was the hypothetical chap you were blowing on about, over the life span of a mortgage you can't possible know what the payment will be like in comparison to renting a similar property.

On the laws of average your missus is as likely to spread for some other chap as you are likely to lose your job, have you factored that into your plan too? Just in case like?

whippet

I've never bought a secondhand car, I am currently on my fourth new car bought a few months ago.

I buy new because I want a factory ordered car to the colour and spec that I want etc. I tend to take months to make up my mind as to what I want, and that car will suit my circumstances at the time. For instance I changed my hot hatch for an estate recently as children and dogs have dictated.


However, I will be buying a 'weekend' car before the year is out that can be of any age once it meets certain criteria - unpractical, quick, fun and stupid.

-Chris-

RoverJames wrote: »

On the laws of average your missus is as likely to spread for some other chap as you are likely to lose your job, have you factored that into your plan too?

What kind of posting is this in the Motors forum? You well know better.

Infraction given.

no1beemerfan

RoverJames wrote: »

A friend paid €7000 to go from an 08 petrol Corolla to a 2010 petrol Corolla.......

:eek:

stimpson

Last year I went from a 20 year old Honda to a brand new diesel Avensis which I'm planning on keeping for 10 years. Lets do the sums:

Honda went through a tank of petrol a week = 52x50 = ~2.5K
Insurance 800
Tax 450
Servicing 100
Fixing broken bits (various non service bits over the years) - 500
Depreciation - practically none

Cost p/a: 4350

Avensis does a tank per 3 weeks on average (bigger tank, cheaper diesel) - 52x50/3 = 870
Insurance = 450
Tax = 156
Servicing = 200 (alternate services are 160 and 240 in main dealer)
Fixing broken bits (none so far, but lets budget for a DPF/DMF/Turbo every other year or so) Lets say 500
Depreciation (say 10% p/a over 10 years) 2400

Cost p/a : 4576

Just 200 quid in the difference.

Suzie Sue

323 wrote: »

Anyone buying a car new or used in Ireland is mad.

Every car needs to be researched, some used cars are actually cheaper here.

^^^^^^

Do the sums on a 2008 diesel Avensis that had 40k miles on it when you bought it

stimpson

RoverJames wrote: »

^^^^^^

Do the sums on a 2008 diesel Avensis that had 40k miles on it when you bought it

Ugh. I'd have to look at it everyday. Whatever the cost - it's worth it.

stimpson

stimpson wrote: »

Ugh. I'd have to look at it everyday. Whatever the cost - it's worth it.

Each to their own, the current model Avensis is one of the worst looking cars on the road imo.

As depreciation is accelerated in the first years of ownership it makes most sense to keep a new car for 10 years + to obtain value.
I can understand people who may buy reliable economical cars brand new, they may be getting on in years/not very knowledgeable on cars and like the idea of piece of mind, a lot of dealers offer very good warranties and free servicing on new cars these days
The person who spends 50k on a new car and forks out another 20k every two years for a new plate seriously needs their head checked… unless they are very wealthy... the type of people that probably bitch about how much tax they pay... here taxman have another 20k in VRT

stimpson

RoverJames wrote: »

Each to their own, the current model Avensis is one of the worst looking cars on the road imo.

Still driving the 75ZT?