It may make the wife happy but it’s a massive waste of money.

Unless you’re really unlucky, a modern car will run without any major issues for 5 – 7 years. The OP has a Kia Ceed, which by all accounts is a pretty straight forward and robust car, just about bomb proof and it’s still under warranty. I would keep it and run it into the ground.

By your own calculations the OP has 1-3 years before it has any ‘major issues’. By the time the ‘major issues’ come about the car will be worth less so when it goes wrong and the wife says she needs a new one because the old one is unreliable the OP will have more money to find.

If he trades in he can continue paying an amount he’s comfortable with and hopefully not have to worry about it costing anything extra.

Modern cars cost loads to fix so even running one in to the ground will cost you and probably at a time you can least afford it.

That’s the point of new cars. Oh, and they’re new, which is a good thing.

chestrockwell – those expensive repairs that may or may not happen are nothing compared to the guaranteed depreciation you will get in the first few years of owning a new car.

By all means have one if that’s what you want but it’s the best thing to do financially.

“By your own calculations the OP has 1-3 years before it has any ‘major issues’. By the time the ‘major issues’ come about the car will be worth less so when it goes wrong and the wife says she needs a new one because the old one is unreliable the OP will have more money to find.”

mean while you are counting that these issues WILL happen.

i run cars between 9-15 years old and yes they do happen occasionally…. but by the time the car is a bit older the costs seem to have come down from the headline problem costs back in 19oatcake when they were built.

Ive done 1 clutch in 6 cars in my life only other big bill was a vw where the engine melted.

He also covered that – £4.5k is £1k below the trade book price, so the last thing he should do is just hand the car back.

My current car I bought age 4.5 years with 120k on the clock. Major issues? Yep, have had to change the clutch and DMF, may well have some other expensive things to fix. The total cost of all the likely major issues is less than the first year’s depreciation.

(in this particular case I’m actually into bangernomics territory on a car which is still only 7 years old – was £3k or so cheaper than similar age cars with 50k less miles {~£14k less than new}, which is more than enough to cover the cost of any major jobs – jobs which the lower mileage ones might see soon anyway)

Sure if you want to regularly have new cars PCP is a good option, but don’t kid yourself that it is cheaper to own a car that way than buying s/h.

Edit: having checked the actual depreciation on a new one, the total amount I’ve paid for 2.5 years ownership, including purchase price, repairs, tax, insurance is less than the first year’s depreciation!

of course theres a hassle factor involved too aracer – how ever i dont believe a new car negates that – infact im sure the bathtub statistics model would suggest your more likely to have issues with a new car than a middle age car – curving towards more issues again towards end of life.

I actually put value on the fact that only me and my wife have driven the car we have. I put value on the fact that I have had it serviced regular, never bumped and basically I know its history.

I am planning to keep ours forever so the PCP at an astonishingly low 0.2% made sense.

Not everyone wants a second hand car with the issues it can bring. Bangernomics make no sense when your wife is stranded at the side of a road with 2 screaming kids demanding that you come and sort the car out.

Anyhow, interested to know what deposit contribution the guy was offered still

TheLittlestHobo – Member
never bumped

You would be surprised at how many new cars have already had paint repairs before they hit the show room.

Not everyone wants a second hand car with the issues it can bring. Bangernomics make no sense when your wife is stranded at the side of a road with 2 screaming kids demanding that you come and sort the car out.

That’s what breakdown cover is for, AA, RAC, The Other One……..

thelittlesthobo – did i miss where the OPs car was a second hand banger about to fail at the side of the road….

Modern cars cost loads to fix so even running one in to the ground will cost you and probably at a time you can least afford it.

That’s the point of new cars.

Yes but with an old car, it might go wrong and cost you lots of money. But a new car will DEFINTEILY cost you loads of money.

Best thing is to buy a 5 year old car and put the extra money in the bank. IF you need to fix it, you’re covered many times over. If you don’t – bonus. Buy a new bike or three with the money you’ve saved.

then theres the other side of the coin – theres the folk i know about here that every 3 years religeously they must have a new car so they dont have to MOT it …..

hell one guy i had a conversation with was going to trade in his year old clio just so he didnt have to service it…..

mentalists – how ever they create pools of cars for me to chose from , the more new cars bought now the more chance of bangers being cheaper when i need another.

For that you have breakdown cover 😉 Though actually I haven’t used mine for a broken down car for over 20 years (a couple of times following crashes, once when I was injured and couldn’t drive). That’s despite running my last car until it was 14 years old. Though actually my current cheap car isn’t bangernomics at all, it’s just the cost is tending that way, and you don’t need to do bangernomics to get the benefit of cheaper s/h cars.

As suggested by trail rat up there, the chance of needing to use breakdown cover with a new car is actually higher than that.

I actually put value on the fact that only me and my wife have driven the car we have. I put value on the fact that I have had it serviced regular, never bumped and basically I know its history.

I am planning to keep ours forever so the PCP at an astonishingly low 0.2% made sense.

Not everyone wants a second hand car with the issues it can bring. Bangernomics make no sense when your wife is stranded at the side of a road with 2 screaming kids demanding that you come and sort the car out.

How dare you say such a thing, the STW brains trust will not allow it.

You’re an idiot if you buy anything newer then 10 years old and the more miles it has on it, the better. Don’t even bother talking to me unless it’s done at least 120k as you will clearly be stupid.

Having your wife stranded at the side of the road will be her own fault for not having a hardtail with 26″ wheels.

the littlesthobos idea actually makes significantly more sense than blindly changing cars every 3 years.

TheLittlestHobo » Bangernomics make no sense when your wife is stranded at the side of a road with 2 screaming kids demanding that you come and sort the car out.

My dad’s new Jag left him stranded at the side of the road.

I did a few sums on new and used (in France where depreciation is slower) and concluded that if I keep a car a long time then new makes a lot of sense. A lot of failures are driver related and cars get moved on by people who consider them consumables to be used and abused. I’ve never worn a clutch out in my life, I don’t thrash a cold engine, I leave the engine running for a few seconds at motorway service areas to let the turbo cool down and avoid carbonising the oil, I don’t drive over kerbs and bend things, I wash the salt off at the end of the ski season, servicing is done when it should be, I know exactly how many kms it’s done.

If I do buy second hand then I want something with 60 000km per year on it. That way I know it’s never cooled down and if it’s been clocked then it’s not by much.

i bring you this.

also edukator – i agree on everything you said esp turbo cooling – but dont let the folk on here see that , turbos are fine working right up till the point when you park up and turn the key off ASAP – its the law around here , dont try and fight it……….

and one wonders why this place seems to account for more turbo failures i’ve ever heard about.

No toys out of the pram here as I really couldn’t care less what the STW masses car buying habits are. I just amuses me that the answer to any car related question seems to be a 7 year + 3 Series or T4/5 with 150k on the clock. Extra smarm points are awarded for refering to the car in question by it’s series number.

I’m glad Edukator turned up and reminded us how awesome he is.

i agree on everything you said esp turbo cooling

Well it’s fine in theory but I cannot for the life of me imagine a service station where you’d brake hard from 70mph then suddenly kill the engine. They all involve quite a bit of gentle trundling. Likewise almost any parking situation, unless you go to visit someone who lives alongside a main road.. or perhaps stopping in a layby.

How about arriving in a ski resort, molgrips? People drive up the col, into the car park and cut the engine. Their cars smells hot, the fans are running flat out and the exhaust can be heard clicking as it cools.

So awesome I don’t fell the need to drive around in a posy Alfa or Beemer.

Only 50000km a year for mine, which isn’t German and has no prestige at all. I’m not doubting your sums, but not so convinced here where there is cliff fall depreciation for the first couple of years – that covers a lot of replacing bits which have been thrashed.

Wrong pic – here you go: