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Old 30-04-2015, 22:11   #1
qwert
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New car or not?

I love cars. I also love my 2006 Ibiza FR. Stage 1 remap. Excellent economy, fun to drive, cheap to insure etc etc.

However more and more people are always on at me to get a new car, I've had the Ibiza now about 7 years. I'm in the fortunate position to afford a new one but I struggle with throwing away 300-400 a month on a PCP or a lease when I have my 'own' car sitting outside. It's not being tight, I waste money on loads of things, more a value for money question.

I love the look of the Golf R and the Leon Cupra and Cayman S, and I'd love to own a proper fast car one day.

What does everyone else do when it comes to replacing cars? Follow heart or brain!? Buy an older model outright or lease a brand new one?

Cheers!
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Old 30-04-2015, 22:55   #2
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What I've done before and did with my last car, I'll pay cash, run it until it's got no more to give for years, then I'll get something new(ish) again (used from dealership with 5 thousand miles) to ease the depreciation hit.

Cars are always mine. Depreciation or not, I don't owe anything to a leaser or dealership.
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Old 30-04-2015, 23:15   #3
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Smart money would be summit like a mk2focus RS or the new one if you can afford it, depreciation will be minimal if any .
I'd of thought you could buy a new focus RS run for 6-12 month and sell for what you paid for it . MK2 might be the smarter buy Think there all still well north of £20k plenty tuning potential


Iv been playing this game for the past 3years and haven't lost any money and Iv had 5 different cars in that time made a profit on 2 . I see it as a challenge .......... Think I'm keeping this one though
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Old 01-05-2015, 01:11   #4
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Can't beat a new car that you have ran in properly and nurtured from new, knowing it has never been thrashed before oil is up to temp and no one has smoked, eaten in it or worse. I always buy cash and only use finance if it's 0%, and keep for at least 3 years up to about 5 ish and never have to worry about replacing much more than tyres or wipers. When I do change I always get a great price as I have all the service history from new and as a one owner, low mileage unmodifed car it always is easy to sell. I buy the car in the colour I want and don't buy to save money, you can't take it with you.
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Old 01-05-2015, 09:04   #5
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Only ever had 1 new car, don't think I'd bother again.

I normally buy a top spec 3 year old car with low milage, where you normally save 50-60% on new. Let someone else take the depreciation hit.

Current one was bought from a dealer (so paid a premium), but 22k miles, 3 years old & I get a 2 year warranty with it - happy days, its like brand new anyway.
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Old 01-05-2015, 11:10   #6
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Quote:
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Only ever had 1 new car, don't think I'd bother again.

I normally buy a top spec 3 year old car with low milage, where you normally save 50-60% on new. Let someone else take the depreciation hit.

Current one was bought from a dealer (so paid a premium), but 22k miles, 3 years old & I get a 2 year warranty with it - happy days, its like brand new anyway.
Yeh, but if no one was like me where would you get your great car from, I and many like me provide a sevice of supplying these cars to the used market.
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Old 01-05-2015, 11:30   #7
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Quote:
Originally Posted by Seastormer View Post
Can't beat a new car that you have ran in properly and nurtured from new, knowing it has never been thrashed before oil is up to temp and no one has smoked, eaten in it or worse. I always buy cash and only use finance if it's 0%, and keep for at least 3 years up to about 5 ish and never have to worry about replacing much more than tyres or wipers. When I do change I always get a great price as I have all the service history from new and as a one owner, low mileage unmodifed car it always is easy to sell. I buy the car in the colour I want and don't buy to save money, you can't take it with you.
That's the way we look at it. GF needs a reliable car, I was working away a lot so we took the plunge. Traded in an 04 Leon we had had since 05 and started with a brand new 08 Leon Tsi sport. Worked our way up to the current Cupra. Yes, it's probably cost us a lot more but ...it's our money, we work hard for it. We have no expensive hobbies, (other than the car)neither smoke . Kids are all grown up, mortgage virtually non existent.
I was fortunate a few years back to be in the position to buy a 'me' car, as I had some spare cash. As I have a company car, it wouldn't get used in the week. Then I realised that as I (at the time) could be away for 3-12 weeks at a time, it was going to sit on the drive and rot. So, I put the money into the GF's car and here we are. I can trot off to wherever safe in the knowledge that she has a car covered for most eventualities.
As you say, you can't take it with you, certainly in the last 12-18 months that has been brought home to me very plainly.
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Old 01-05-2015, 15:14   #8
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PCP's aren't inherently awful but like any kind of finance you need to understand what you are getting into. My last car I bought new and was going to pay for it outright but there was an incentive to take out the finance - I did the sums and I came out a few hundred quid ahead taking the finance and paying it off early.

In the case of Audi there are some very good discounts to be had on new A5's - so much so that it doesn't make a lot of sense to buy a year old one IMHO.

So to answer your question, do whatever you feel comfortable doing, if you like a new car every few years then there's an argument for PCP where you chop it in every 2-4 years for something else.
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Old 24-05-2015, 17:26   #9
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Me personally, I don't like wasting money so wouldn't buy new. I've spent a small fortune on cars over the twelve years of driving which has sort of brought me to where I am now with a 98 Ibiza Cupra for a toy and an 01 Toledo TDI to commute in. Together they are probably worth just over a grand on a good day but they are both reliable and do what I need from them.

Just before Christmas the Toledo was keyed nose to tail by some little scrote, if that had a been a new car on lease I would have been heartbroken and had to pay to get it resprayed for when it had to go back. As it was I was pissed off but 7 months later its still keyed and has cost me nothing.

Problem with PCP and lease deals is that the car isn't yours and you can't do anything to it without getting the all clear from the owners which is the lease/finance company. So no tuning, styling, tinting, painting etc because despite that it might be seen as an upgrade when you hand it back they will charge you to return it to factory specification unless you have a previous agreement. Something few people take into account until they get stung on the hand back day.

I have a mortgage and to me that's a bigger priority than a new car. When the mortgage is gone and I have some spare cash I will treat myself, but it will be a classic that won't depreciate like a new motor.

Oh and thanks to those that do buy new and look after them, because without them I wouldn't have my current two.
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Old 29-05-2015, 20:13   #10
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Old cars have character!
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Old 30-08-2015, 16:21   #11
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I'm currently leasing an Ibiza FR Black Edition (3dr) (2015) from a lease company for £132 p/m, that includes 15,000 miles per year - I believe I'm getting a really good deal, I don't have to worry about depreciation or anything going wrong with the car as it's under warranty. Not to mention the car is brand new and arrived on my drive with just 70 miles on the clock.
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Old 03-09-2015, 22:53   #12
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Don't think I'll ever buy a new car. I don't like the smell

Apart from that I like a car I can take to bits, scratch, dent, spray with rattle cans, load a bootful of logs etc without fear of damaging a 12k+ investment, or worse, something I technically don't own yet.

Not to mention that I find the high tax, fuel and repair bills of an older car are still lower and more manageable than a monthly payment plus depreciation.

Actually thinking of swapping my 2006 Ibiza for a 2001 Toledo V5. Found one for £500 recently. For that price I could rag it to bits for a year at 20mpg and still not be any worse off. That and the NOISE.
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Old 25-09-2015, 09:10   #13
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Quote:
Originally Posted by Cupra Kid View Post

Problem with PCP and lease deals is that the car isn't yours and you can't do anything to it without getting the all clear from the owners which is the lease/finance company. So no tuning, styling, tinting, painting etc because despite that it might be seen as an upgrade when you hand it back they will charge you to return it to factory specification unless you have a previous agreement. Something few people take into account until they get stung on the hand back day.
That's a bit of a misunderstanding of a PCP though. The car IS yours in a PCP arrangement. And you can do what you please with it. Tune it to within an inch of its life if you want. It's yours, and you don't need anyones say so to do anything to it.

The only time you may be stung is if you do return it at the end of the term, which you shouldn't be doing as it should, in theory at least, be worth more than the GFMV. You can sell it at ANY time throughout your ownership, so long as the finance company get their money first.

Lease deals are different, and your scenario is absolutely correct there.

Quote:
Originally Posted by Cupra Kid View Post
I have a mortgage and to me that's a bigger priority than a new car. When the mortgage is gone and I have some spare cash I will treat myself, but it will be a classic that won't depreciate like a new motor.

Oh and thanks to those that do buy new and look after them, because without them I wouldn't have my current two.
That is a good plan though. Get the house first.

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Not to mention that I find the high tax, fuel and repair bills of an older car are still lower and more manageable than a monthly payment plus depreciation.
They are no doubt more manageable. But the monthly payment INCLUDES the depreciation. So it is not the monthly payment PLUS depreciation. It's not like you pay £400 per month for 4 years, and then when you hand it back, pay the depreciation as well.

Personally, I have at least 2 cars in my household. My main car, is bought on PCP, and is bought new. This latest one being a BMW 530d MSport Touring. It is obviously not the cheapest method of motoring, but I do get the car I want, in the spec I want, often at lower prices than the compromise of getting a 1 year old one. I did, for example, get 20% off the list price with my latest purchase, and coupled with a lower interest rate, meant a cheaper monthly payment than a nearly used example.

Also, because of the deal, it worked out the SAME per month (Total ownership costs over 4 years) for my 530d as it would have for a 2.0 tdi Passat / Mondeo / Avensis or similar, of similar specs, due to the different depreciation curves.

I change this vehicle every 2-3 years on average. My other vehicle(s) I buy outright, with cash. So are generally older. For example, yesterdays purchase was a 2007 Alhambra TDI. Because I needed space and some economy. It was replacing a 2000 4.0 V8 Range Rover (as I obviously didn't need the economy then). But the second car will be suited to whatever my needs at the time are. Now its a big diesel car, in the past I have had, for example, a V8 Audi S4 as I didn't need to commute so much. But I am happy to change this vehicle every 6 months or so. The Range Rover I have only had around 4 months. Before that was a E46 BMW 330i I had for about 4 months also.

Between my wife and I we basically gave up going out every weekend, and expensive holidays when we had our kids, so decided having a nice car would work for us, as we do a lot of miles. Hence the BMW. But it already does 18k per year, so adding another 20k or so for this upcoming commute would have destroyed its value. So we tailor our second car towards our current needs.
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Old 25-09-2015, 09:33   #14
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I have a PCP deal on both my 14 plate Toledo got May 2014 with 9 miles and my partners 64 plate Ibiza ST.
This is my 5th car and I was getting fed up with the repair and money being spent on the old cars, we are both 25 have a Mortgage plus partner is Self Employed, so the PCP works out best for us both, we don't have to worry about repairs as they have warranty plus got 2 years servicing, altho I have already done 20K

the only time the you get stung in PCP on the millage is if you hand the car back to finance company which is 1 of 3 options others are to PX for a new car after 2-3 years, or pay off the finance and keep the car.

we do not have the money to afford a car out right and the HP deals always cost more that the PCP, so it works for us may not for others. I think the best bit is the peace of mind that we have the warranty if anything goes wrong, which the Ibiza has had DAB issues and SPS issues and I had the Water in the door's but all one without any issues under Warranty :-)
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