I’ve never had a brand new car before. In fact I’ve never bought anything until it’s past its 10th birthday. I like quirky and interesting cars so the acres of silver appliances you see at dealers do absolutely nothing for me. These days I share a car with my girlfriend and she commutes in it 5 days a week so I’ve had to reign in my outlandish desires. Apparently breaking down in a car and waiting for a recovery truck is not “just part of the fun” and is actually upsetting for some people. Also, the Panda 100HP has to go. It’s been a blast but it’s not mature enough for a long term relationship.

So this morning I found myself in a main dealer looking at a very zesty specimen. Untouched by human buttocks. Doors taped up and a rope around it. Sealed and safe from the space-virus. Then I enjoyed a lengthy test drive with its twin sister. I am very taken with it. It’s actually brilliant. It’s got comfy supportive seats and a big screen with information on it. You can hear the stereo over the road noise. You can have a conversation at motorway speeds. I want it. This is where a normal person would just sign on the dotted line and drive home in their brand new car.

Now I’m sitting here with some printouts with different PCP deals on. If we put down our full car savings fund as a deposit (which is about what I’d usually spend on a banger) we can afford the payments easily.

Does this sound right? He gave me a copy of the price calculator which they “are not allowed to show customers”. The sticker price is £26,825 and the ‘dealer price’ which is the same as the sale price is £24,543. The total profit box has £0.00 in it. Is this just standard practice to suck you in?

Also if we show them the logbook for the Panda they’ll give us a grand towards the deposit. For nothing. Just for us to switch to **** and hopefully stay on their finance hook forever. We get to keep and then sell the Panda. Does anyone else do that?

Are they really so desperate to sell cars even though the only profit is from the interest on the 3 years of payments? Is there anything else I need to check for? Any questions that must be asked?

Bonus points for anyone who can guess the car from the price. There’s only 600 in existence and this is one of the last brand new ones available.

TL:DR

I want to buy a fun new car but I’m cacking myself cos I’m a tight-fisted disciple of bangernomics

Fiesta ST Performance Edition – think that would be about 26k ?

Dealers will be after a sale, so go for what discounts you can. They get commission on PCP

He gave me a copy of the price calculator which they “are not allowed to show customers”

That probably tells you all you need to know 😂

Are you planning on buying it at the end of the PCP agreement?

Can you deal with a less Arthur Daley salesman?

Decide on the car you like then get one that is a couple of years old for half the price. Don’t believe anything that a salesman tells you, especially if they say the deal will only be available for a few days and other such twoddle.

Apparently breaking down in a car and waiting for a recovery truck is not “just part of the fun” and is actually upsetting for some people.

She’s absolutely right about that – sitting by the side of the road late at night, in the pissing rain or snow, for two or three hours knocks the shine off the ‘fun’ part pretty quickly.
Even if the weather is fine, having to wait around for three hours for some bloke to pitch up and fix the problem and then be faced with several hours drive is no fun; been there, done that. Van I was supposed to pick up and drive home from Cornwall had a flat battery when I got there, at 6.15 in the evening. 9.15 bloke turns up, gets it started, I get home at 11.45 at night after a 17 hour day. It wasn’t a bundle of laffs.
Three of us trying to bump-start a long-wheelbase Transit had it’s amusing side, though.

Fiesta ST Performance Edition – think that would be about 26k ?

Bang on. I love it. Satisfies my need for nerdy stuff like Quaife diffs, adjustable coilovers and stuff, then cruises on 2 cylinders when you’re chilling.

Are you planning on buying it at the end of the PCP agreement?

I would like to. Final value is just over 11 grand. I can’t imagine staying in the finance loop forever but wouldn’t mind owning a cool car for once.

Decide on the car you like then get one that is a couple of years old for half the price

That was absolutely my plan. We’ve been looking at Golfs, Octavias, Focus etc… I just feel like getting something a bit mad for once. Why not a bright orange limited edition Fast Ford?

She’s absolutely right about that – sitting by the side of the road late at night, in the pissing rain or snow, for two or three hours knocks the shine off the ‘fun’ part pretty quickly.

I remember sitting in my Opel Manta with a blown head gasket, somewhere in the Scottish Borders/Keilder area, known as one of the darkest areas in Europe, until 4am waiting for a recovery truck with a mate who had to start work in Newcastle at 7am. It was quite magical actually. In the end we were almost cuddling for warmth.

Have you checked out how much it would be from a car broker? My mum saved about 35% off the RRP when she bought a Yeti a few years ago.

Why not a bright orange limited edition Fast Ford?

Report back the third time the local yob squad have taken it for a fun spin

What’s wrong with a nice used van, eh?

That was you, wasn’t it?

What’s wrong with a nice used van, eh?

That was you, wasn’t it?

Exactly! Bangernomics bit me on the arse hard that day. To be fair, it’s running fine now, £1250 later. And it’ll keep us from putting muddy bikes in our posh car.

Have you checked out how much it would be from a car broker? 

You can’t get this particular car anywhere except certain Ford dealers. Not sure how many brand new ones are left from the 600 but there can’t be many.

Report back the third time the local yob squad have taken it for a fun spin

This is a possibility. I can keep it out of sight at home but not in the shady hellhole where my mrs works.

How about a compromise – a pre-reg but still new and much cheaper?
Or what something interesting could you get from a JDM importer?

The only thing about the ST is chav’s pinch the fancy bits off them, but given it’s a new model, there won’t be too many kids in base models just yet. SIL has a normal Fiesta and really likes it.

Or what something interesting could you get from a JDM importer?

I’ve been looking at stuff like that for months. Prices have rocketed in the last few years. Have you seen what people are asking for JDM STI’s recently? All the UK Impreza’s I’ve been to see are either rotten or hiding it well.

Plus it’s a lot of money for something that only comes out a couple of times a month and we’d be stuck with the Panda as a daily which to be honest, is getting really old. My spine needs a rest.

There’s one for sale near us, yours looks like a betterer deal

http://www.gliddoncars.com/used-car/ford/fiesta/1-5-ecoboost-st-performance-edition-200-ps-one-of-only-600-only-1-left-/for-sale-in-brixham-devon/aetv36724710/

I would like to. Final value is just over 11 grand.

So while you’re paying for the car over 3 years you have to also save £300 a month to build that fund.

profit is from the interest on the 3 years

A friends ex hubby was a car salesman- she said he got more in finance commission cheques than for selling the car

Get on a site like carwow, and see what you can find there to compare about.

Yes, they might make £0 profit on the car, but it’ll count to their 1/4 bonus, and finance rebates

Don’t let them upsell GAP insurance or expensive car sealant / washing

27k for a Fiesta? I am so out of touch with vehicle prices. I could not imagine handing over that much money for a car that will lose 50% of its value in 3 years.

Buy second hand.

You could get a nice new transit for that kind of moolah.

I’ve thought about doing that myself, but only because the used prices are so silly.

If you are buying with PCP, in my experience, the higher APR rates for nearly new cars has meant there is little difference to your monthly costs when compared to buying new. If you like the car go for it. If you dont think there is much negotiation on the top end price, and you have agreed trade in value, then ask for some free services, tank of petrol.. etc. There is usually something the garage can do if you need that final twist of the arm.
A limited edition fast Ford will hold its value better that other Ford models. With PCP you are effectively buying the depreciation. The lump sum at the end of the deal is the future value. So you known what the depreciation is. Good luck.

A friends ex hubby was a car salesman- she said he got more in finance commission cheques than for selling the car

Many moons ago I bought a Scorpio in a “I have to buy something today” dealy. Agreed a price on finance, then told them I wanted to pay it off over 12 months rather than the five years he was pushing. I think it’s one of the rare times I’ve got one over on a dealer, he really didn’t want to give me a one year deal.

Check out the vid below, Dean explains all the various options pretty well

As above, check through Carwow first as it cost nothing and might get what you want cheaper (still from a franchise dealer).

New cars are ace and well worth it in my opinion. Just gone back new after a year or so in a lovely old Fast Ford. My oldie was brilliant but I just found I was waiting for it to go wrong or for the cam belt or clutch to need replacing. For me the ease of ownership of a new car outweighs the slightly higher cost.

Renault Zoe from £24,600. Lovely drive. Cheap as chips to run.

It’s not a 200PS crotch rocket though, is it?

Ford are doing 0% on PCP deals for some models. We’re probably going to get the PHEV Kuga on 0% this year.

Our current model is nearing 8 years old, and won’t meet next years local clean air standards so needs replacing and 0% is pretty much a no brainer for a new car.

Buying a new car is a quick way to spunk a load of cash never to be seen again. And forget the sales platter, it really is a load of bollocks.

But…if you really need a new car then check autoebid/drive the deal etc for price comparisons.

But don’t buy brand new – a nearly new car (ie 1-year-old with < 10000 miles is a decent compromise).

Broadspeed have £1300 off them. Should give an idea of what sort of discount is available (just get your dealer to match it)

https://broadspeed.com/CarView/Ford/Fiesta/50951/EcoBoost_1.5_200PS_Petrol_ST_Ford_Performance_Ed_Manual_3_doors

For about £2k more than that you could get a 7 month old C-Class.

I feel your pain, Toyota Yaris GR4.
The deposit is paid, the stress will surely kill me before delivery.
What the heck, go for it man.

As you’ve seen, loads of people have told you to buy a second hand car.

I’m not going to do that.

If you can afford to buy a new car, and you want to buy a new car, then there’s nothing wrong with buying a new car. The feeling of being the first and only person to own it, to know it’s exact history, the spec it exactly how you want it, is a really great feeling.

I’ve only been able to do it twice in my 40 odd years so far, and I’ve enjoyed it both times. If people didn’t buy new cars, then there wouldn’t be any secondhand ones.

I had a company car for 3 years. it was great!

£15,000 had evaporated in depreciation by the time it went back.

A similar 3 year old car would have gone from £10,000 to maybe £7000 or so.

I’d never buy a new car simply based on that.

I really wanted a civic type r after the company car. I got offered a demonstrator on the staff deal- I worked closely with the dealership. I ended up with a 4 year old 335d.

Its had an expensive bill, tires, disks, pads and it’s still much cheaper than the depreciation/ finance on the new car. I would have nothing to show for the costs after 3 years on the pcp deal- the opportunity to buy the car was sold as a benefit! Instead I will have a 7 year old 335d.

The not breaking down, the warranty ( when my bmw caught fire outside Inverness 350 miles from home I was not feeling clever about my car choice!) all these things are great about new cars.

So how about a fun, 3 year old 9,000 mile bmw?

V6 bmw coupe, 9,000 miles</a

Or exactly what I wanted civic type r for £24,000. It would have been £34,000 new

Civic type r

There’s one for sale near us, yours looks like a betterer deal

http://www.gliddoncars.com/used-car/ford/fiesta/1-5-ecoboost-st-performance-edition-200-ps-one-of-only-600-only-1-left-/for-sale-in-brixham-devon/aetv36724710/

And only ten months old…

Buying a new car is a quick way to spunk a load of cash never to be seen again.

As is the same when buying a second hand car, or a bike or anything else you purchase unless its a classic and appreciates in value.

What Bensales said -if you want a new car go an get one, it’s your choice and experience.  I’ve had two – both as company cars – and it’s great feeling to be the one and only owner.

However, my car was a nearly new Ex demo which was £36k new I bought for £22k. That’s quite a lot of money to be saved. And as pointed out it could be “more” of a car than you are looking at.  Having said THAT, get the car you want and don’t have regrets over spending that amount  of money, it’ll weigh heavily.

I wanted to pay it off over 12 months <snip> I got one over on a dealer, he really didn’t want to give me a one year deal.

I don’t know if this still applies to PCP but at least for installments, you can agree to the finance, dealer gets commission AFAIK etc. The following day you pay off the finance in full, either with your cash or with a personal loan at a much lower rate. Everyone wins except the poor finance guys.

Fords depreciate faster than most cars.

What’s so special about this limited addition ST over a normal ST? ie is it really that exclusive?

PCP – don’t sink your life savings in to the deposit, you will never get it back.

Look at premium brands you might be surprised what posher nicer cars you get for the same money as they depreciate less.

Also have a look at leasing. Look at leaseloco as a starting point. I prefer leasing to PCP and have purchased cars at end of leases at less than dealer price.

What is the upfront deposit and monthly’s you are being quoted?

I bet it’s Skoda Octavia VRS lease prices or even Golf GTI.

27k for a Fiesta? I am so out of touch with vehicle prices

Very much this.

I can only assume PCP has led to inflated list prices so that folk think they’re getting a good deal.

As is the same when buying a second hand car, or a bike or anything else you purchase unless its a classic and appreciates in value.

Depends on the level of spunkage you’re comfortable with. Personally, I find the amount associated with a new car purchase excessive.