I have always been a second hand car person, that is until the m135i was brought out

my discount mentioned above was also on an m135i.

Great car – well worth it.

There are great deals about, my current car had about 4k off a list of 19k.

As mentioned, it does not cost me much more then a 5 year bank loan would for a second hand one.

By the time I’d finished paying for my last second hand car it was due a new clutch, had just cost £800 for an MOT, was near to needing a cambelt change (Quoted £600 at mates rates), had cost £300 in tyres the year before and had various other parts on the way out. Had I got everything fixed it would have cost more then it was worth, more then I got for the trade in. As said before, it would still have been an old car with plenty of miles on the clock.

It seems that everyone on here either drives a top end Merc/BMW/Audi or a banger. 🙄

Paying cash for an old brand new (new/facelift model had just released) Merc. estate with lots of extras got a 25% discount along with a good trade in, as a family member got with their latest car 😉

Worked out considerably cheaper than the A3 the OP mentioned

To me the new option is much better and doesn’t actually cost much more.

Well there is 20% VAT that gets wiped off the moment you take the keys…
PCP deals are designed specifically to keep people in new cars and on typically 3 year turn arounds.

They are affordable for new car models with good residuals and mean you get drive a Merc for the same price as a Kia. The problem with PCP deals is if you ever want to come out of one.

There are some incredible lease deals out there if you know where to look. Earlier in the year you could get the brand new Golf R for £280 a month with around £2k down and as said above, most Mercs are sold to lease companies. The problem with leases is you are fixed in for the term and have heavy penalties for going over a mileage allowance.

Key thing for me on the PCP approach is that you’re left with nothing at the end, except the option to take on another financial liability for a new arrangement, or the minimum value payment. At least if you buy outright you have some ‘equity’ on your depreciating asset.

Also, new cars aren’t always the worst option, it depends how long you intend to keep them for.

It’s swings and roundabouts and will depend on how many miles you do. What I do works for me. If I got a couple of year old car and kept it a while it’d be worth very little when I came to sell so I wouldn’t be any worse off then if I needed to stop the scheme I use.

I might agree that if you had the money in the bank so didn’t need to borrow then a couple of year old car might make more sense then new but if you have to borrow the money I think some of the offers on new are hard to beat and I’d much prefer to spend a little more each month and stay in a new car then save a bit but run an older car with all the potential extra costs.

Don’t mind me, I’m one of the muppets who buys new as he likes the smell, and can specify a sunroof.

With pcp these days a lot if manufacturer structure the deal such that the car is worth a couple of grand more than the amount oustanding, so that you have something as a deposit on the next car, that way you just keep the monthly repayments going and get a new car.

Horses for courses really, what works for one person might not work for another. It’s impossible to generalise, you can’t say all leases are good, all pcp is bad, buying cash is best etc etc. It all depends on the exact deal in question.

Agreed Julians and Bain. I was just responding originally to the ‘brains trust’ that decided anyone who buys new is a brain dead idiot.

I was just responding originally to the ‘brains trust’ that decided anyone who buys new is a brain dead idiot.

I don’t think anyone was suggesting that. Also, there’s a huge difference between someone who buys new and keeps the car for a long time v someone who buys new and sells after 3 years v someone who rents.

There have been some lease deals recently that have made renting a new car even more financially prudent than buying a much older model. I regularly cite it as an example, but the 330d touring was going for £300 a month (inc VAT). That’s some amount of car for £10k over 3 years, you’d struggle to get close to that on the second hand market.

So in many instances it makes financial sense to buy new. I think anyone who appeared to be having a pop at new car buyers (certainly the ones I noticed anyway) we criticising the logic fails in their value for money calculations (e.g. buying new to save road tax).

I’d love a new car, everyone would, but the cars I want don’t come within my budget new, but definitely do after a few years.

Again, it comes back to how you want to spend a similar amount of money – the newest but most basic model in the range, or a used model with a better spec and engine.

I’m slightly jaded since I seem to be surrounded by people who love to rent the smallest engine in an expensive brand, just to own the badge. A chap at work has a 2007 E63 and was recently asked (by someone in an arbonne cruiser) if it wasn’t about time he got a new car since he’d had that one for ages 🙂

If another deal like the 330d came around, i’d bite their hand off. I’m definitely not against renting/buying new, provided it makes at least some financial sense.

(I can’t really talk about financial sense to be fair, i don’t have much, but it sounds sensible when I type it at least 🙂 )

flat in in Bradford for £72k
*Pops to Audi and orders two A3s*

😆

Can’t see the point in having a basic BMW/Audi/Merc etc, I’d much prefer to have a less desiable badge with more kit. I’ll out myself as a Focus owner, and a very happy one at that. It may not have the same finish as those mentioned above but is well specced and drives very well. It’s also a massive step forward from my mums previous gen and my old Mk1. If I could afford to have the next level up and spec it properly I probably would but I’m more then happy with what I’ve got.

The best finance deals are in the new cars and everyone’s chucking all their ppi refunds into new cars at the moment, will be great for me when I need a new car in about 3 years time though!

I tend to run my cars until they’re dead, buy them at 3 years old 1 owner, ex lease) then run them and run them until they’re dead.

Just replaced the complete clutch on my old 11 year old Kia Sedona at the weekend cost £120 and a few hours of my own time.

I rent a workshop and by servicing mine and my friends and families cars it pays for itself. 😀

Can’t see the point in having a basic BMW/Audi/Merc etc,

I’ve just taken out a lease on a ‘basic’ 3 series. Had previously come from a 54 plate Mondeo that was knackered. I looked at various cars and wanted hassle free motoring. I wanted a car < 1 year old mid car size. I don’t have £12k in the bank, a £12k loan would cost me £360 a month or I could get a brand new ‘basic’ (has more toys than most cars) £32k BMW 3 series, insurance, fully maintained, breakdown cover etc, no deposit for £360. I’m also saving a fortune on fuel over the previous Mondeo that did 50mpg on a good run. I’m saving £70 a month on fuel!

A Focus would have been out of my price range, and it’s not half as good a car .