to be fair he did say:
I can't think of a single sensible reason
so if you disagree you should be able to provide some sensible reasoning?
Chat Forum
so...cars then
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Posted 5 months ago #
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My dad is from Hong Kong and apparently there it is common to buy a car from new and then think about trading it in when it's about 3 years old...
The last 5 cars he's bought have been from new (some with part exchange). I'm not going to list them as I can assure you you'd all judge his complete lack of sense and taste
Posted 5 months ago # -
If you're genuinely going to keep it forever then that's pretty impressive, but I suspect you'll not. Either way, you still have to accept that it's worth a fraction of its original price almost immediately and if you ever choose to change you're likely to lose out bigtime.
I suspect I'll keep it a long, long time. It's only done 80k and still feels and looks like new. I don't have an isue with accepting thats its worth a fraction of its original price. That's what happens with anything new.
Perhaps you know me better than I do, but I doubt it.
Do you purchase bikes, clothes, etc all second hand?
Posted 5 months ago # -
Just remembred my dad went through a stage of buying brand new every couple of years 2 Allegros (one a Vandam plus) a Maxi and then a Metro.
Franky he was a tool when he was younger I reckon
Posted 5 months ago # -
My ex-girlfriend's Dad is a multi-millionaire, he refused to pay for a brand new car on principle. He is a very smart man...unlike me.
Posted 5 months ago # -
I bought a new Ford Fiesta for my wife in 2006, we still have it now. Its not really worth selling at the price they go for second hand now, plus its been really reliable.
Posted 5 months ago # -
I bought a new Ford Fiesta for my wife in 2006, we still have it now. Its not really worth selling at the price they go for second hand now, plus its been really reliable.
Fiestas go for good money compared to their new price.
I was looking at swapping our Mazda 3 (2.0l Sport top spec model) for a similarly aged Fiesta and the Fiestas go for the same/more than I could get for our car despite being much cheaper when new.
Posted 5 months ago # -
We bought a brand new Skoda Fabia 2.5 years ago, scrappaged my very dead 1995 Discovery as part of the deal, could get much off the list price, but it was a bottom of the range model so didn't expect a killer deal.
I doubt we'd buy another brand new one, more likely to go for something 18-24 months old.. and let someone else take the initial hit.
I've got a company car which suits me at the moment.Posted 5 months ago # -
How did you 'save' £14k, you bought a two year old used car for what it was worth, so you can't say you save x amount on new, thats like comparing apples with oranges.
I "saved" the money because I didn't buy a new one, which I was contemplating. I keep cars for a long time and hence initial purchase price is one of our biggest costs. Pay less and keep it a long time then the depreciation is always less than buying new. Since after a long time the new and nearly new cars will be worth about the same.
Posted 5 months ago # -
Why would anyone with money lying about spend it on an asset that is guaranteed to depreciate? Stick the money in an investment that attracts rate X, finance the car at rate Y, make sure X>Y ?
Posted 5 months ago # -
Hold on you own a range rover sport and a Mercedes s65. Are you really in a position to talk about people 'wasting' money on cars.
Posted 5 months ago # -
I know someone who bought a brand new TOTR Jaguar by walking into a showroom, pointing out the one she liked, saying 'I'll take that one please'; no test drive, nuffink. Paid in full on the spot. Drove away in it just a few minutes later.
She chose it cos she liked the colour.
Class.
Posted 5 months ago # -
Bought my wife's car outright last year, pre reg focus with sub 100 miles on clock so effectively new. Got s good chunk off list price and will probably keep it until it dies. That's the most we have ever spent on a car. Mike are always 1-2k mark and bought cash.
Posted 5 months ago # -
Yep, once. Integra Type-R. They dropped the list price at the end of the run so a new one was same price as year old ones I'd been looking at. Didn't walk into a dealer though, just phoned them.
Kept it 5 years. Still miss it!
Posted 5 months ago # -
I bought my last one £25k on finance, because the interest rate was so low it was cheaper to take the loan rather than forego the interest on my savings. Not sure I could negotiate the same deal in the current climate.
However, even if that were not the case I would have still financed it, as you never know when you need access to your savings / liquid assets and £25k is a shit1 load of cash.
Last 4 cars have all been new, kept for 5-6 years. Happy to accept the depreciation for the benefit of a new car and it hasn't proven too painful. I can't live with unreliable cars.
Honda x2 perhaps £1.5k per annum, Golf £2k per annum, Audi probably nearer £3k per annum, which I guess is about my limit before re-evaluating my options.
I think generally I would go 50% cash/px 50% finance, but I don't like huge loans so would probably not wish to borrow much more than £10-12k
Posted 5 months ago # -
My diesel had 5k off the list price (paid 7500 for it)
Less than a year old with 23k on it when i bought it. I was happy with the saving. 10 years on with hardly any faults and a huge mileage.. i`m even more delighted. The other car cost me £2700 but ive spent a lot more on it than that. Still dont regret it and the 3k loan i took out for it cost me £3321 total amount payable so it hardly broke the bank.I would never buy a brand new car unless i could really afford to. Even then when buying brand new it would have to be fresh from the showroom. None of this 100 miles on it by god knows who. I would never pay full price for something with that mileage on it from new. I would be running it in as easy as possible no matter what they tell us nowadays on how tough engines are. That is something i would want to do myself having shelled out 20k+. Edit: even 8k!
Posted 5 months ago # -
but I don't like huge loans so would probably not wish to borrow much more than £10-12k
my mind boggles at the idea of £10k being a 'small' loan*
*it doesn't boggle at the idea of £10k being small or resonable money to people, I just dont think I could ever bring myself to borrow $10k from anyone, for anything apart from my mortgage, which is an entirely different kettle of fish.
Posted 5 months ago #
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