Why would anyone buy a new car.

Borats Baby

Borats Baby

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What would make anyone want to lose thousands of pounds instantly ?
 
Same question can be applied to most things. Irrelevant really. People who buy new cars enjoy life and don't worry about it. The people who don't are the ones that moan that the D200 has 'just' been replaced or that a computer is out of date as soon as bought and probably travel from dealership to dealership looking for 'the best deal'.

Snooze worthy really.

Just my opinion.
 
Diego Garcia said:
Same question can be applied to most things. Irrelevant really. People who buy new cars enjoy life and don't worry about it. The people who don't are the ones that moan that the D200 has 'just' been replaced or that a computer is out of date as soon as bought and probably travel from dealership to dealership looking for 'the best deal'.

Snooze worthy really.

Just my opinion.
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Why is it irrelevant? People who don't buy cars enjoy life too. I think it's a good question actually. When you buy a D200 are you loosing thousands of pounds as soon as you walk out the shop? Thats a crap comparison. Just my opinion though ;)

I should point out though, two years ago I bought a Fiesta as a winter run-around for £50 and sold it in the Spring for £70.
 
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KayJay said:
Why is it irrelevant? People who don't buy cars enjoy life too. I think it's a good question actually. When you buy a D200 are you loosing thousands of pounds as soon as you walk out the shop? Thats a crap comparison. Just my opinion though ;)

I should point out though, two years ago I bought a Fiesta as a winter run-around for £50 and sold it in the Spring for £70.
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No, I don't think cars do devalue as much as people claim - its just the British mentality to it. Like the lottery and the weather its a thing people discuss to pass the day.
 
Diego Garcia said:
No, I don't think cars do devalue as much as people claim - its just the British mentality to it. Like the lottery and the weather its a thing people discuss to pass the day.
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Well there are all sorts of factors, including depending on if you are selling privately or back to a garage. And of course there is a mentality that contributes towards it. Lots of people buy cars and sell after only one to two years of ownership. Performances cars also depreciate more than regular mass production cars. Then of course there are some cars that gain in value.
 
KayJay said:
Why is it irrelevant? People who don't buy cars enjoy life too. I think it's a good question actually. When you buy a D200 are you loosing thousands of pounds as soon as you walk out the shop? Thats a crap comparison. Just my opinion though ;)
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Sorry, have to agree with this.

I personally don't see the point in getting a car from new. it's well known that the simple act of removing it from the show room causes a massive loss in resale value. However, other items, photography equipment included do not tend to depreciate as much. Yes, of course there will be some loss due to the fact that it is then classified as 2nd hand, but the levels of depreciation are not comparable.

If however, you are not worried about money either way, and can afford the loss in value... then that is their choice :) Remember also that new items tend to come with more cover such as warranty etc whereas second hand "generally" doesn't.
 
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people buy new cars so other people can buy used cars.

simple really.
 
OK - suppose what I was trying to say that people tend to fall into the trap of going and saying cliched things about depreciation, a bit like a fast show character if you will.
 
I have a friend who buys a new car every two years, he's got the money and it's what he wants to do. For some people owning something 'new' is important, for me a car is a box on wheels that gets me from a to b and if I had the money I might buy a new box instead of a second hand one.
 
Devaluation is all relative to the product

£15,000 car devalue when leaving the show room by 20% - it loses £3000. In a year's time it will have lost another £500-£1,000, that's when the devaluation is at its minimum, when it's 'nearly new'. It's now worth £11,000 so roughly 70% or its orignal value

£1000 camera is £750 - £800 after a year. Again that's lost 20-25% of its original value.

We see the devaluation on a camera as g'one of those things'. We see devaulation on a car as being shafted.
 
I usually go for a demonstrator.my last one had 310 miles on the clock,all the extras,and body kit and I saved about 5 grand off the new price.Worthwhile asking a garage, if thinking of buying a new car
 
In my case I got 4 years interest free credit on my last new car, spec'd to my preferences and not someone elses. 2nd hand a bit cheaper but add the interest rate on the loan and I'm not losing out really.
 
Our three 4x4s are 12 years old, 14 years old and 17 years old :D

The values will not go down any more, if fact they have come up a bit (all three still on £180 per year road tax).

Mind you, it's up to everyone what they spend their money on.
 
Diego Garcia said:
OK - suppose what I was trying to say that people tend to fall into the trap of going and saying cliched things about depreciation, a bit like a fast show character if you will.
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I don't see how depreciation can be "cliched", or comments on depeciation - it's a fact on new cars as much as it ever was.

It may also be the same on other purchases, but they don't have anything like the huge loss in value that a car does. Strange also in the UK that we think a house appreciates in value, even although it is older materials, worn, older building techniques. In Japan houses depreciate just as cars do here - the land appreciates, but the house itself is considered as lower value as time passes.

Just what people have come to believe in each region.

Since depreciation is by far the largest cost of driving, I always have it in mind for a car. What is especially strange is someone buying a new car which is more fuel efficient, in order to save money :thinking: Cost of fuel is pretty insignificant compared to depreciation and car payments, so generally better to keep the old car.
 
My dad bought a new car purly for reliability (and as he is self employed and uses it for work then a good wedge is tax deductable). It is great knowing you have a car that you dont have to worry about. If I am out in my old Rover 200 then I am always wondering if something is going to happen etc, in his car you just tootle off out without a car in the world :) Guess it just depends on if you want to pay for piece of mind.
 
There are a couple of reasons why I would buy new.

I'm not going to sell the car as soon as I get home, so the few £k I lose out the showroom won't concern me in 36 months time.

Often you can get better fiance deals on new cars. Very low or 0% interest, so that initial loss is gained back by not paying interest.

Longer warranty. Mine came with a 3 year unlimited mile warranty and some cars now come with 5 or 7 years.
 
dealers are doing alot of good deals on new cars now adays though, in alot of cases you dont even own the car, you rent it and pay a monthly premium and all maintenance is covered on the car, plus some even insure the car for you. and you just swap it in for a newer model every year or so,
or you can buy a secound hand car thats out of warrentee and incure all types of costs from your own pocket.
myself, i opted for the later but may think about buying new if the package was good enough.

so for instance if you by a 25K car you dont actually pay 25k for it, you pay something like 300 a month and that covers maintence and in alot of cases ware and tear, plus you dont have to pay for MOT's etc, so its practically hassle free motoring and you just keep paying the 300 a month and upgrade to new cars when your term is up.

if people never bought new there would be no secound hand cars!
 
Buy a new car and I get the car I want, in the colour I want to the spec I want.

Either sell in 12 months and start again, or keep it for 5 years when you've had your fun from it. I bought my last car from new and don't regret it, people go on about depreciation, but I bought my car to enjoy it and drive it (I still even enjoy looking at it) and I've had it 2 years now.

I may decide to have a "bit of work" done on it later this year (y)

Steve
 
I've just bought a new car, I was going to buy a second hand one but various things happened and I ended up buying new.

My old car was nearly 11 years old with 179,000 on the clock it was an old P Reg Corsa. My old car needed a bit of money spending on it this year and I was concious of the fact it had never had a new clutch so must have been getting ready for one.


I was going to get a loan through the bank but they were messing me about. One week I could have a loan as much as I want at 6% the week after I could only borrow £3500 at 17.9% so I looked at other options. It would have cost me roughly £180 per month over 4 years for the second hand one at 6%.

The deal for the new one

£1000 for my old car if I bought an eco friendly model which I wanted to do anyway, the only snag was they wanted to recyle my old one which I tried not to think about too much. Then the new one was only £35 to tax and it was on 0% finance over 3 years. Payments around £240 per month.
I got the colour and spec I wanted, its a 5 door diesel which I will hopefully get 6o to the gallon out of eventually.

I did think the new car would be more reliable but I dropped it off at the garage after 1 month of ownership on Sat with a problem. In a hire car at the moment.
But they have to fix under warranty so it won't cost me anything.
 
Right, heres my take on things

It seems a fair few people are happy to pay circa £300 a month to drive a brand new car, safe in the knowledge that when it breaks down (which it will), they can have it fixed for free.

There's also a few that think they're getting a fantastic deal because they're not paying any interest on the loan they took out to buy the car, and this somehow makes up for the depreciation.

Theres also some that think depreciation is neither here nor there because everything depreciates in value (apart from houses).


But heres my view,

My car cost me £800 to buy, (or 2 and a half months payments on a new car)

Its a Mundeo, its diesel, but its in good shape, has never missed a beat, and returns 45 - 50 mpg.

Nothing has gone wrong yet, but if something does go wrong, it'll be very cheap to fix and my (skint) pocket will barely feel it.


So OK, I drive a 10 year old car because I'm skint, but it serves a purpose and it serves it well. I genuinely believe that even if I were well off, I would still drive a cheap car.

1. They're less reliable than older cars *** theres more to go wrong.

2. They all look the same nowadays.

3. They all drive the same nowadays.

4. I'd rather spend the money on something that matters to me more.


I realise its each to they're own, and that new car owners will try and tell me that I'M doing it the wrong way, but I still dont get it................

I'd rather spend 7 or 8 grand on my kids, rather than a car.....
 
Hmm see now plenty to disagree with there. Who says a new car will break down, my dads old new car (the one before this one) was a pre reg Mondeo, with just delivery milage, didnt break down once in 3 years. A warning light came on once, which turned out to be an iffy switch, fixed for free..no real problem.

My P reg Rover cost me £700 new...and has so far cost me more than that in repairs etc! It was very well looked after and because it is old the brakes are worn..the suspension is going..the clutch is slipping...the window seals have perished...nothing you would get with a new car.

Not saying a new car is the only way to go...but there are some serious pro's to doing so, and if I could afford the monthly payments (and didnt have a dad whos car I could drive whenever) I would probably go for a new (or pre reg) car to be honest.
 
I have to admit to buying new cars and losing s%"t loads of money on them. At the moment we have a Range Rover Vogue, BMW Z4m and BMW 530d. The Z4m has lost the most. Less than 6000 miles and lost about £15,000 in less than 2 years. But I intend to keep the car for a very long time and it will eventually level out. Its lost its biggest part now so its not worth worrying about.
I bought that car knowing that it hadn't been thrashed by anyone else and I maintain it myself. Lifes too short to start worrying about how much I lost on this or that. There is some truth in that we British do worry about things too much.
The bottom line always has to be, if you can afford to take the loss and get pleasure from that product whatever it may be, then go for it. Cos there arent any pockets in shrouds.
I have found that it often takes a life changing experience to change peoples outlook on things like this.
 
:LOL: If people didn't buy new or second hand cars [and have them repaired] we would be out of business and my rapidly depreciating D200 [I can see it falling everytime Colin posts pics from his D300/D3 combo] would never have been mine to depreciate in the first place.



Oh, and for those of you who prefer the s/h market, be warned, s/h values are in freefall atm, due mainly to economical factors but also due to the tax legislation on older, less environmentaly friendly cars - suddenly people aren't prepared to absorb the cost of higher road tax and more expensive fuel bills. Sounds great if you are a s/h buyer, but do your homework carefully, as the extra expense over several years of ownership [on top existing expected repir/maintenance costs] might not be worth the saving.
 
Because sometimes it's a better deal :shrug:

My mum & dad just bought a new car, cost them about an extra £200 over a nearly new car, plus they got a better finance deal on it than a used model... so they've actually saved money buying a new car ;)

Plus... Depreciation only matters if you sell an item. If you intend to keep it until it dies, then it doesn't matter what it's 2nd hand value is :)
 
LadyLens said:
Oh, and for those of you who prefer the s/h market, be warned, s/h values are in freefall atm, due mainly to economical factors but also due to the tax legislation on older, less environmentaly friendly cars - suddenly people aren't prepared to absorb the cost of higher road tax and more expensive fuel bills.
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Depends.....

JumboBeef said:
Our three 4x4s are 12 years old, 14 years old and 17 years old

The values will not go down any more, if fact they have come up a bit (all three still on £180 per year road tax).
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Buying new for business makes sence, but I can't see how buying new for private use does....?

We spend hardly anything on repairs, other than servicing, plus our road taxes are much cheaper than on newer 4x4s. I've had a new motor before, and you are spending hundreds of pounds per month just to keep up with the fall in value.

I'd rather have older motors, and put those hundreds in the bank :D
 
A workmate buys a new car every nine months, trades the 'old' car in on the new car and the most he has paid ontop of his part exchange is £1200. Admittedly each car on trade in only has around 4,000 miles at the most. They are not 'cheap' cars either, he is now on his third consecutive Focus ST. He traded in his first ST plus £500.

My next car will be brand new, I'll be ordering within the next few months. It will be in the colour I want with the extras I want. It is also a new model that has only just come out, so to buy one second hand, I'd have to wait a fair few months longer. Plus the chances of finding the colour and spec I want would be very slim. I'll probably hang onto my current car as it has been very reliable. 10 years old, 216,000 miles and averages 40mpg. Not bad for a 2.0 petrol Mondeo. I've owned it nearly six years and cost me £2000. It's worthless now, but still a great car. Depreciation on the new car won't concern me. I plan to keep it for quite a few years, as it gets older, I'll probably buy another new one but to replace my current car and then keep my 'new' car as the old one.
 
kevshore said:
I have to admit to buying new cars and losing s%"t loads of money on them. At the moment we have a Range Rover Vogue, BMW Z4m and BMW 530d. The Z4m has lost the most. Less than 6000 miles and lost about £15,000 in less than 2 years. But I intend to keep the car for a very long time and it will eventually level out. Its lost its biggest part now so its not worth worrying about.
I bought that car knowing that it hadn't been thrashed by anyone else and I maintain it myself. Lifes too short to start worrying about how much I lost on this or that. There is some truth in that we British do worry about things too much.
The bottom line always has to be, if you can afford to take the loss and get pleasure from that product whatever it may be, then go for it. Cos there arent any pockets in shrouds.
I have found that it often takes a life changing experience to change peoples outlook on things like this.
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WOW, £15K is nothing to you !

I'm clearly in the wrong job. How is losing £15K going to "level out" eventually ?

We're obviously at different ends of the money tree me and you, but to lose that much money and "not worry about it" . . . .

Imagine the money you could have saved by buying all 3 cars 2 years old. You could find the same spec and everything, AND saved yourself £45K.
 
I was looking at cars recently. I've had a new car (company car) for the last 10 years and I took the hit on my income tax and lost out on the allowance for all that time.

So I decided I wanted to buy my own and save on paying all that tax and receive the allowance instead. 1 year old Mazda 6 beautiful car £5k less than new and it only had 8,000 miles on the clock.... Good deal for me.

Looked at Mundeos too and the saving for a 1 year old car was close to £10k!!!

If you have the money and want to play safe with the full warranty and get the spec you want then new is the way to go but if you buy nearly new and are prepared to compromise on specification then it's a way to save a few quid.

I'm happy with my choice and am looking forward to my next 3 years of trouble free motoring (fingers crossed ;) ) I did take out breakdown cover just in case though!
 
Borats Baby said:
Imagine the money you could have saved by buying all 3 cars 2 years old. You could find the same spec and everything, AND saved yourself £45K.
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Well, BB, if we take the Z4m as an example. I bought it new when they first came out. (as some camera users like to) This particular model will in time become a collectors car. I know the full history of the car. I know every mile that has been driven on it except unloading from the ferry. I did not allow it to be roadtested at PDI. I intend to keep it a very long time. Its garaged when not in use and is 'as new'.
I have worked myself silly for the last 15yrs (first 5yrs 80hrs a week) building up my business and the car is my stressbuster. I bought it after spending 3 days at my brothers bedside and losing him. He was 5yrs older than me.
I decided that it was time to enjoy life and live for today. Sometimes you dont put a financial value on that. The car makes me very happy and its one hell of a stressbuster when you have a crap day at work.343bhp in a 1400kg bodyshell!!:D

As far as the value levelling out. When the E type jag came out, it lost money quickly, as do all cars. Try and buy a nice one today.

Lifes all about setting yourself goals and targets I suppose.But one thing I can say is that if you look at the bottom of LadyLens' reply, thats how to live life. :D

Just one last thing. I'm a mechanic by trade and have owned at least 25 old knackered cars in my time. Loved all of them. I just like cars.....:shrug:
 
kevshore said:
Well, BB, if we take the Z4m as an example. I bought it new when they first came out. (as some camera users like to) This particular model will in time become a collectors car. I know the full history of the car. I know every mile that has been driven on it except unloading from the ferry. I did not allow it to be roadtested at PDI. I intend to keep it a very long time. Its garaged when not in use and is 'as new'.
I have worked myself silly for the last 15yrs (first 5yrs 80hrs a week) building up my business and the car is my stressbuster. I bought it after spending 3 days at my brothers bedside and losing him. He was 5yrs older than me.
I decided that it was time to enjoy life and live for today. Sometimes you dont put a financial value on that. The car makes me very happy and its one hell of a stressbuster when you have a crap day at work.343bhp in a 1400kg bodyshell!!:D

As far as the value levelling out. When the E type jag came out, it lost money quickly, as do all cars. Try and buy a nice one today.

Lifes all about setting yourself goals and targets I suppose.But one thing I can say is that if you look at the bottom of LadyLens' reply, thats how to live life. :D

Just one last thing. I'm a mechanic by trade and have owned at least 25 old knackered cars in my time. Loved all of them. I just like cars.....:shrug:
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Who am I to argue.

Maybe I'll just have to conceed defeat and come to terms with the fact that some people have nothing better to spend their vast fortune on.

I've been skint since the first of our 2 kids came along. In the last 4 years of parenthood, I've learned that theres far more important things to worry about than monitary <<<check spelling>>> possesions. Sure it helps if you've got enough to live comfortably, but its not the be all and end all of life. At least for me anyway, we all have different circumstances dont we.

My stressbuster is going for a long walk/bike ride, camera in hand, and snapping away till the cows come home. The only thing is its a rare opportunity I get to do that. I'm usually burdened with the kids :D which makes compositioning a whole lot more difficult... :LOL:

I love cars too and the best one I ever had, and I always said that I STILL would have if I came into some money, would be be my Volvo 850 T5. Had to sell it because it was to thirsty in favour of a mundeo Diesel, but one day, I'll have another, it'll be a T5R though !!!

Big grins and can be had and you'll get change from a grand. 225bhp and buckets full of torque !!

I live life too Kev, I just dont feel the need to spend £££££££££ doing it !

I'm sorry to learn about your brother, that must have been awful.

And thats enough from me, I lie on the floor, defeated.... :D
 
I bought new last time, for a couple of reasons. I got a stunning trade in price for my old car and I'm going to keep it so the instant depreciation does not come in to it.

The car I traded in cost me £10500 and they gave me £2000 for it so a total cost of £8500.
I had the car for 12 years so it cost me under £14 a week. I think that's very good value. I intend to keep the new one just a long.
 
I bought my Motorbike new for 2 reasons

1) I simply dont care about depreciation. I dont see it as losing money. Money isnt leaving my bank account. Im not writing a cheque for 20% just after I buy the thing. I will worry about resale when the time comes.

2) Owning a new bike is like shagging a virgin. The pleasure comes from knowing no-one has ridden it before
 
rofl!
 
What is it with this fear of an other person having driven your car, or ridden your bike before you bought it ?

Would you buy a used car of me if I promised to fit it with a brand new seat before you took it away ?

Do you think that everyone else in the country has leprocy, or that somehow the car is infected with something ?

Do all of you who buy new cars also buy new houses because no one has lived in them before ?

Do you think that the previous owner might come back one night and break into your car, just so he can have a sit in it once more ?

A valeter, A mechanic, A saleman, A truck driver and prolly a few other people have all driven your new car before you have. It doesn't really matter !!

Still, as someone has mentioned earlier, if no one bought new, there would be no bargains for me would there,

so, Carry on !!!!!
 
I like that everyone is different! I do sometimes worry in case a decision is made because not all information was known, since it's surely not in seller's interest to point out how much depreciation, interest payments etc actually cost. But as far as these as known and discounted, it's nice not everyone thinks the same way!

Take a new version of my car, bought 8 years ago. Would cost about £35k to buy now. With 40% tax I need about £58k income to pay that out. After three years I will have an "asset" worth 15-20k. Quite a loss. Is the pleasure I will derive from owning that, worth what I have to put in to buy it? Or if someone said to me, you can have a brand new car, or a year's holiday, which would you prefer? Financially they have similar impact. I'd take the year off and drive what I do now - free time means more to me than shiny trim and a place to plug in an ipod.

Equally, I see others derive HUGE satisfaction from owning and appreciating a car. While I can say that it has little meaning for me, equally I'm in no position to judge their enjoyment by my values.

And my business supplies the automotive market, at least partly, so please keep buying new cars.... ;-)
 
Borats Baby said:
What is it with this fear of an other person having driven your car, or ridden your bike before you bought it ?

Would you buy a used car of me if I promised to fit it with a brand new seat before you took it away ?

Do you think that everyone else in the country has leprocy, or that somehow the car is infected with something ?

Do all of you who buy new cars also buy new houses because no one has lived in them before ?

Do you think that the previous owner might come back one night and break into your car, just so he can have a sit in it once more ?

A valeter, A mechanic, A saleman, A truck driver and prolly a few other people have all driven your new car before you have. It doesn't really matter !!

Still, as someone has mentioned earlier, if no one bought new, there would be no bargains for me would there,

so, Carry on !!!!!
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I think you're missing the point.....

Buying new means that nobody else has had the time to inflict serious damage on the mechanical parts (other than the mechanics at the showroom of course). And there is something special about picking up a brand new vehicle, it just "smells" new :D

Steve
 
if you can afford it why not hey? If your relying on the resale value to trade up in the future perhaps not a smart move as you'll make a big loss but if you can afford the loss go for it and enjoy!
 
I nearly bought a new car the other day, then changed my mind as the thought of £300 a month coming out of my bank account for the next 5 years did my nut in!

My Current car just needs a new flywheel, £500 and it'll last another few years. Its EuroNcap 4 so I feel nice and safe in it! Why that bothers my is just silly as my two classics are about as crash worthy as a paper bag! And my motorbikes...... well me all know how crash worthy they are :D

My latest bike is a 99 ZX7R, I sold my old 99 ZX7R, missed it like hell, got this replacement with a better service history, lower miles and a nice change of colour for less than I sold my old one.

So, what my tuppence worth basically boils down to is do what feels right. If spending £30k on a car makes you happy, then do it! If you'd rather buy 5 different cars for that money then do that instead.

I prefer my money to be spent in a most wasteful random fashion than a set monthly one :D
 
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