[Finance] Car Buying...

[Barnet Seagull]

Hi all.

My current car is now 11 years old and due for a replacement and I've had it from it being 4 years old
I'm interested in what people do as i'm not one to switch cars regularly as for me it's A->B comfortably.

I generally buy when 3-5 years old but not sure if this makes the the best financial sense

 

[Ooh it’s a corner]

Tbf my Dad didn’t let me buy a car when I was 3-5 years old. As a grown up I favour buying a car with a couple of years and maybe 20k or so on the clock - FSH preferred

 

[Icy Gull]

I have gone all of 3-6 but never 1-2

I’d suggest option 3 if you are looking for trouble free a-b motoring.

You might like to go for a beige and boring car too. It’ll be cheaper and it sounds like you don’t care as long as it stops and starts

 

[surrey jim]

I tend to go for high spec , full service history, older cars [5-10 years] and run them into the ground.

 

[WATFORD zero]

Unless you want to spend more money so that you have a newer car and strangers you drive past are more impressed, I think it makes perfect financial sense to go 3-5 years old. The car has already taken the depreciation hit and leasing companies aren't in it for altruistic reasons and don't generally lose money

And in my experience, keeping a classic on the road is bloody expensive

 

[Pretty pink fairy]

New car , who wants restrictions and penalty payments on excess mileage
Regards
DF

 

[schmunk]

Never bought a new car. It's for MUGS.

Had a couple of new car leases through a work car scheme back when they were worth doing (Pro Tip - they're absolutely not worth doing now unless you're getting an ULEV).

Had a couple of 2 year PCH leases when we had very small children as my wife wanted ultimate assurance on costs (even though the assurance was "we are paying more than the other option, every month")

Other than that, have bought ca. 3 years old, including my current car.

 

[Icy Gull]

New car , who wants restrictions and penalty payments on excess mileage
Regards
DF

Somebody who doesn’t want to bin 1/4 of the price of a new car as soon as they drive it off the forecourt?

 

[Notters]

I tend to go by mileage as much as age - don't know if that's daft.
So would usually go for something 3-6 years old with ~25,000 on the clock.

 

[Pretty pink fairy]

Somebody who doesn’t want to bin 1/4 of the price of a new car as soon as they drive it off the forecourt?

That's not an issue for me, I nice spanking brand new car that is yours all day long thank you,the Mugs that get caught out on excess mileage charges do make me chuckle though
Each to their own though which ever option you choose
Regards
DF

 

[WATFORD zero]

New car , who wants restrictions and penalty payments on excess mileage
Regards
DF

Somebody who doesn’t want to bin 1/4 of the price of a new car as soon as they drive it off the forecourt?

Toot toot

 

[nicko31]

Buy quality 3 years old, full maintained straight from the leasing company usual via car supermarket, highish motorway miles. Usually 40% residual or less, can't go too wrong

 

[Official Old Man]

Always purchased 3 yo because they are a fraction of the price of new. Only bought new once when the dealer offered me a car in the showroom, 0 on the clock, that I presume he had to shift. With many cars now coming with 5/7 year warranty and showrooms desperate to sell something there has to be some bargains.

 

[Pretty pink fairy]

View attachment 134483
Toot toot

https://youtu.be/uqTpZXcTc_s
Beep Beep

Regards
DF

 

[RandyWanger]

Voted Classic as I love my rusty old Datsun 1600 No tax, no mot, cheap historical insurance. It's loud, smelly and obnoxious. Love it.

But I do lease a new car for the days I want an auto, heated seats, or heat for that matter, air con, a car that starts on the button etc... One of those big urban Range Rovers that never seems a puddle.

My mortgage advisor always says to buy used, 3/4 years old as you get the best deal possible. I've got a C300 Coupe on the drive, 20,000 miles, 17 plate. Paid over 40k for it, 4 years later I was offered 19k as a trade in I declined, it's still on the drive.

 

[Madafwo]

If I had the money I'd be looking at 2-3 year old, lowish mileage from a stealer with FSH and a warranty for a year.

When I bought my current car a year ago I didn't have the money so I ended up with an 8 year old Mondeo with 100k on the clock, I'll service it myself and run it until it dies, in the hope that by the time that happens I'll be in a position to do what I described above.

 

[Pretty pink fairy]

One careful owner
Regards
DF

 

[Super Steve Earle]

Tricky one. I have a C3 which I bought new in 2002 with 50,000 miles on the clock and a BHA number plate. Also have a 4 year old Peugeot 2008 which had already taken a £7k depreciation hit when I bought it at 12m old. Still only done 31,000 miles particularly due to lockdown. However if the question was how would you buy your next car, I have no idea. Lockdown has battened down my mileage completely. I would have looked at lease/PCP but not sure about future driving habits to justify a monthly charge. I'm also wary of the electric car debate. I would like one, but can't afford one and have nowhere to charge it from home. I guess my point is past choices are no guide to my future choice.

 

[Raleigh Chopper]

I have a good dealer up the road from me, many of their cars are ex motability, very low mileage, still got warranty and serviced.
I keep an eye on their website daily waiting for the right one, but I always go for top of range with all the bells and whistles.
Probably do a deal and hope to get another £500 off at least.
Example 2017 Mazda CX3 GT Sport ( only 500 made) full spec 8000 miles £25k new, £14,500 ( before deal)
BTW there are some excellent buying tips on You Tube when buying used cars, for example never reveal how you are going to pay until you have agreed a price and you sit down to sign the papers, when asked say ' I'm flexible especially if you intend to pay cash or large deposit.
Cash is no longer king they make their money from credit.

 

[Rookie]

Usually 3 years + but for latest I wanted new. Couldn’t afford to buy outright so went lease, maybe not the best thing financially but it’s a cracking car.