weapon69

Hi

Just wondered what opinions are of buying new cars (im not rich lol). For example, new Corsas. Is it worth buying brand new as they depreciate so much?

pearcey555

If you can get a cheap one from a car supermarket or the like you are likely to lose less in depreciation. My girlfriend bought a brand new corsa 2 years ago - dealer offered her £4,500 less than she paid for it (admittedly she would have got a little more selling privately).

Speaks for itself really, but i guess it depends what your priorities are.

Pearcey

Dracoro

How long are you gonna keep it? If for 2/3 years then it's the most expensive way of owning a car, even if you do save a bit by discounts etc.

I'd go for a low mileage 2/3 year old model. It may still feel new but will have done a big chunk of money losing. Put it this way. I owned an S2000 for 18 months, bought it at 2 years old, lost about £1,500 over that time, cost nothing to run apart from insurance!! Overall it would have been more expensive for me to own a brand new supermini (corsa for instance). Indeed you need a fair wedge to buy something like the Honda but the point being, you can get cars that can beat the depreciation drop. Most of them tend to be 1/2 year old roadsters or porshes etc. but there are others, the Mini for instance.

If you're gonna keep it a long time then it may be worth it.

Reffro

Buy nearly new!!

Unless there is a killer finance and insurance deal there is no reason to buy a new car from a main dealer, especially a Corsa. In fact Vauxhall finance deals are usually complete crap too, so look elsewhere for sure.

I bought a supermini recently from a main dealer, 5 months old, for £7,800 vs an £11k list price, so don't confine yourself to the car supermarkets, look everywhere the deals are out there.

weapon69

OK thanks

Brendan Hughes

Exactly why would you want to buy new? The ONLY real reason I can think of is warranty. In which case, look at the amount of depreciation that you'll suffer on a new car (get the rate from Parkers etc), and compare it to the amount you'll spend at a garage to get "things" fixed on a car that's out of warranty (and further depreciation).

I would guess that the depreciation will be in the thousands whereas the labour bills will barely hit four figures.

JoeyDeacon

Having bought 3 new cars in the last 4 years and having lost 16K in depreciation alone I will never buy a new car again.

It's fair enough buying a brand new car if you can pay cash and plan to keep the car for at least 5 years but how many people do that?

It is nice picking up a brand new car but I personally find I spend more time worrying about the car than actually driving it. When I owned my Impreza we hardly ever took it out as I hated leaving it anywhere. It will get damaged at some point or other and on a brand new car it is pretty depressing the first time it happens. Look at the amount of people on here who worry about what brand of petrol they use and what type of wax to use after spending all day washing the car.

I am now a lot happier with a cheap car I don't care about as I am far more relaxed plus I have far more money and spare time than I used to have.

lordharding

iTrader: (1)

just got the boy a 1.0 litre corsa top of the range list price 11k !!!
for £5750 car was 6 months old with a 2 and a half year warrenty left and not from a supermarket neither as they tend to be imported opels and they put the hidden extras on

was a ex BSM drivers cars and the worst that can go wrong is a new clutch after the warrenty finishs for £180 .

there is lots to choose from when BSM sell them back to the dealers all at similar prices and they are all well maintained

we toyed with the idea of a new one as tempted by 4 years %free but they loose so much money so got the £5750 and paid cash for it .

a decent car for little cash and only group 2 insurance although still £950 fully comp for a 18 year old

weapon69

I don't think i will buy new even though i will keep the car until it dies lol.

The_Teg_Man

I bought 6 brand new cars in the space of 5 years from a basic 1.25 fiesta to an S2000 and lost £25000 in total depreciation overall. I now drive a 2nd hand teg and would never ever buy a brand new car again.

New cars are never worth it, just make sure you find yourself a good 2 year old car with one years manufacturers left and you are laughing all the way back to the bank.

what would scooby do

It's all about money chap, if you can't afford the depreciation or servicing, or can't afford to repair a car, go and use buses.

Same reason that somebody buys second hand clothes rather than new... buy an expensive suit and you'll get no money back if you try to sell it..