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Old Sep 12th 2017, 4:51 am   #1
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Default What? Another car thread?

I know right.

Time has finally come to move on from the old car and make an easy left onto 'new car street'.

Question is, I have two options, which do you think to be better?

1. Buy New.
175ish, 0 downpayment, 5yr warranty, 3yr servicing. 1st yr insurance covered.
Brand new - pick the colours and all that shit.
Perhaps contribute a bit more so the bank think there is an even greater deposit paid, perhaps reducing interest rate slightly, or at least the monthly payment. (Use sale of old car for this perhaps).

2. Wait / Hunt for 2nd Hand.
130-150ish it seems.
20% downpayment.
Remainder of any warranty / servicing pack.
Wait for colour you like or take what's there? (Appears quite limited at the moment).
Lower repayments because lower loan amount. Higher interest rate, but potentially over shorter period so much of a muchness.

Option 1 is more expensive, obviously, but the selection is immediate and I could have one soon.
Option 1 with the extra downpayment, taken straight from sale of old car / savings / wherever (it's not much) seems to de-risk the negative equity up front rather than gambling back end.
Option 2 is great, if the right colour etc comes up with barely any miles on it, this year's model and available etc etc. Needle in a helmet?


Any thoughts appreciated.
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Old Sep 12th 2017, 4:56 am   #2
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Default Re: What? Another car thread?

I've had a few brand new cars in my life and the feeling of being the first to drive something is absolutely awesome.

However, economics do dictate that it makes more financial sense to let someone else take the initial "crossing the threshold" depreciation. Given the state of the market here, I think 20% drop these days would be generous; more like 30-35 in year one for some brands.

To me, its an emotional decision and I tend to err on the side of F*** it, you only live once YMMV.

Enjoy whichever way you choose to go.
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Old Sep 12th 2017, 5:11 am   #3
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Default Re: What? Another car thread?

I have had a couple of new cars since I have been here, and I have to say there is nothing like choosing colours etc etc and making it yours, and when you do pick it up from the dealer for that maiden voyage, the new car smell hits you, the colour shines like it never will again, and all you want to say to the salesman who is busy explaining shite to you is piss off please......its just a great feeling!!

However back to earth with a bump, the dreaded second hand car market is where you can get a real deal if you haggle etc, and probably get something with a bit more punch than if you bought new. Personally I would only buy again from a main dealer (with full service history), just as I do not know enough about engines etc to make a really good informed opinion, and also for peace of mind. Plus some dealers are offering very long servicing deals that go with the car to the second hand market, which could be a big saving on its own!

Anyway keep us up to date on your odyssey, so we can all chime and to some extent share the experience!
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Old Sep 12th 2017, 5:13 am   #4
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Default Re: What? Another car thread?

Yes, buying a brand new car would be sick. I've had the feeling once before but I didn't buy it....

I tend to err on the side of '**** it' too.

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Old Sep 12th 2017, 5:27 am   #5
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Default Re: What? Another car thread?

Have you considered leasing for 6 months or so ?
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Old Sep 12th 2017, 6:03 am   #6
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Default Re: What? Another car thread?

Always buy used. Takes a while to find a decent one but there's some real gems out there at great prices.

Used in finance is a painful process if not going through a dealer though.
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Old Sep 12th 2017, 6:14 am   #7
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Default Re: What? Another car thread?

Hold on Scamp....! There is no way we can be expected to sensibly comment on this without at least knowing what car you are looking at, and then ripping apart / disagreeing / arguing about Prados for the next 10 pages!

Spit it out!
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Old Sep 12th 2017, 6:18 am   #8
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Default Re: What? Another car thread?

Prado`s........... is Scamp Indian??
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Old Sep 12th 2017, 6:38 am   #9
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Default Re: What? Another car thread?

Quote:
Originally Posted by UKCityGent View Post
Have you considered leasing for 6 months or so ?
Interesting, I just think that it's more expensive? Especially compared to buying new with no service costs etc?

Quote:
Originally Posted by Millhouse View Post
Always buy used. Takes a while to find a decent one but there's some real gems out there at great prices.

Used in finance is a painful process if not going through a dealer though.
I don't disagree. My problem is impatience and a total lack of desire to go through anyone but a dealer given the amount of crooks here.

I am hunting around though, in contact with the dealer and he's looking nationwide. #TheHunt

Quote:
Originally Posted by jam25mack View Post
Hold on Scamp....! There is no way we can be expected to sensibly comment on this without at least knowing what car you are looking at, and then ripping apart / disagreeing / arguing about Prados for the next 10 pages!

Spit it out!
Prado.

So, I approached this as any good man would. I went and looked at everything, including cars that I thought I wanted, that I didn't think I'd want, that I didn't think I could afford, that I desperately wanted, that I had no idea I'd want etc.

Settled, I think, with the Mrs' input, on the Explorer.

Can't find anything as nice inside for similar, sensible money. Can't find anything in it's 'category' with anywhere near the spec, options, warranty and service pack.


Quote:
Originally Posted by Dubaiexile View Post
Prado`s........... is Scamp Indian??
Indian middle manager is the Pajero, come on Exile, senior managers get the Prado.

Also.....came very flippin' close to a 210k second hand F-Pace in red with the sick sunroof. The Mrs was convinced too in fact.

Just a bit too pricey for me to drive one day a week.
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Old Sep 12th 2017, 7:19 am   #10
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Default Re: What? Another car thread?

I'd suggest looking at the difference in price between a new model and a 2 year old model, then look at the difference in price between a 2 year old model and a 4 year old model.

Depending on the model, cars can depreciate at different rates. There may not be too much difference in the rate of depreciation for the period you own the car between a new car and a 2 year old car. Unlikely to be the same, but may be a lot closer than you'd think.
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Old Sep 12th 2017, 7:43 am   #11
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Default Re: What? Another car thread?

Quote:
Originally Posted by Dubaiexile View Post
Prado`s........... is Scamp Indian??
That wasn't exactly what I was getting at but you never know, he might be! It was more whenever we have a 'what car should I buy thread' it always boils down to Prados are overpriced, FJ's are ugly etc.

Quote:
Originally Posted by Scamp View Post
. #TheHunt
I'm pretty sure theres a company now where you give them the model, age, trim levels and target price and they go and hunt it down for you, even doing the negotiating, and they take a cut out of the savings.

Quote:
Originally Posted by Scamp View Post

Settled, I think, with the Mrs' input, on the Explorer.

Can't find anything as nice inside for similar, sensible money. Can't find anything in it's 'category' with anywhere near the spec, options, warranty and service pack.
You're gonna spend 175K on a Ford.....

Take that 175K and buy something fruity secondhand..... anything!
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Old Sep 12th 2017, 7:48 am   #12
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Default Re: What? Another car thread?

Quote:
Originally Posted by jam25mack View Post
You're gonna spend 175K on a Ford.....

Take that 175K and buy something fruity secondhand..... anything!
I've never disliked Ford. Good value.

I drive it twice a week, the Mrs drives it 3-4 days to school. I really wanted to splash out. I was ready to walk into Land Rover and buy a second hand Rangey or a second hand Q7 but for my sort of budget, you get something older with more miles and you're just staring at a black hole of servicing and repairs I think.

Trust me. I've thought about it solidly....but I'm trying to do this grown up thing you know?
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Old Sep 12th 2017, 8:05 am   #13
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Default Re: What? Another car thread?

Quote:
Originally Posted by Scamp View Post
I've never disliked Ford. Good value.

I drive it twice a week, the Mrs drives it 3-4 days to school. I really wanted to splash out. I was ready to walk into Land Rover and buy a second hand Rangey or a second hand Q7 but for my sort of budget, you get something older with more miles and you're just staring at a black hole of servicing and repairs I think.

Trust me. I've thought about it solidly....but I'm trying to do this grown up thing you know?
Boring x 2.

So is it just that you only get 2 days a week and your Mrs gets it the rest of the time that you're not bothered? If it was flipped would it be any different?
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Old Sep 12th 2017, 8:41 am   #14
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Default Re: What? Another car thread?

175k is a lot of money to put down.,.. especially for a US car that depreciates very fast. Always consider the resale.
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Old Sep 12th 2017, 8:43 am   #15
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Default Re: What? Another car thread?

Quote:
Originally Posted by jam25mack View Post
Boring x 2.

So is it just that you only get 2 days a week and your Mrs gets it the rest of the time that you're not bothered? If it was flipped would it be any different?
No. I'm fundamentally boring and sensible...coupled with unable to find anything with as good spec in it's category...multiplied by wanting to avoid plunging into big debt for a car....added to wanting to avoid buying something older, with higher mileage just to have a German badge.

I can get a very good spec Ford, brand new, for less money than a very good spec german type car with 10's of thousands of Km on it.
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