When should we stop buying new cars?

[RodTungsten]

I can, it’s cheaper. It really is that simple.

We have bought 2 new Renault Zoe’s - saved a lump negotiating and taking finance deals but then settled in full after a few months - salesman gets initial finance commission and we get a cheaper deal overall.

 

[dickygrace]

We have bought 2 new Renault Zoe’s - saved a lump negotiating and taking finance deals but then settled in full after a few months - salesman gets initial finance commission and we get a cheaper deal overall.

So you bought them cash in the end, to save money

 

[Nayf]

Do you really need a new car?
My daily driver is a 16-year-old 166. It is modern enough to have creature comforts, yet old enough to be not too electronically reliant. It is spacious and comfortable, and even after some recent spend, in total it has cost me less than six months PCP on a mid range 3 series. It is looked after well, maintained.
Okay, so it doesn’t have ApplePlay or cup holders, but financing a car that’s going to depreciate immediately? Hmmm.
Financing a collectable car, I understand. While no car is a real investment despite what the press may say (storage, fixing it), it won’t wipe a third of its value by the time you’ve reversed it off the dealer lot.
The obsession with new for the sake of it - whether for cars, clothes, whatever - is very silly.

Cars really reached their peak between 1987 and 2007, with maybe five years either side. Fuel injection and galvanisation at one end, the lack of nannying electronics and needless ‘safety’ features at the other, which add weight. Buy wisely, look after it, find a trusted garage, think simple.

 

[Oneball]

I’ve got a 16 year old car too as my daily, problem is if I drive it to the office everyday it’d be £60 per week in emissions zone charges.

 

[Nayf]

It's a completely nuts prospect, isn't it? That's about £400 less than my mortgage is (at the moment!)

It’s twice my mortgage.
I do have to live in Peterborough, mind.

 

[Nayf]

I’ve got a 16 year old car too as my daily, problem is if I drive it to the office everyday it’d be £60 per week in emissions zone charges.

My method doesn’t apply to everyone but you’ve touched on the key thing - try not to go into the office/workplace if you can avoid it. There really is no reason to unless you’re a trainee/training said trainee. It’s not a perfect system but what is?

For me I’d make use of the park and ride schemes to get around emissions charges.

 

[Phil H]

There's a great documentary about the future of motoring, and EV's don't even get a mention:

 

[Delmonte]

I've never bought a new car. The newest I bought was 6 years old. (Alfa GTV that cost fat end of 30k when new, with options. I paid £6k). That's the reason I used to have, right there. Whatever price level you're at, used gives so much more for the quid.

But around 2 years ago, I started to wonder. The new finance deals that everyone seems to do (low payments) and proper warranties... surely one day, for the pleasure of driving something no one else has, specced how I want it, and that new car smell... just once in my life I'll take the plunge..

Then around a year or so ago, I started to realise, with some melancholy, that I will never, ever buy a new one now. I'm just not interested in electric cars, the remaining interesting ICE cars are drying up. But most of all, it's the needless irritating tech... I don't want to go to sub menu 7G of a touch screen, trying to get past Spotify to turn the f** heater on. I want buttons and leavers, and dials.

But most of all, I emphatically don't want autonomy of any sort. My old man recently bought a new VW Up... and if you try to change lanes without indicating, it tries to steer you back again.... he hates it, its dangerous ffs, and that stuff is now compulsory. As is automatic speed restriction... which I loathe just as much.

All this rubbish has been forced on us by needless nannying legislation, (i feel sorry for the manufacturers) and i will have no part of it.

 

[Ewan]

I’ve mentioned it on here before, but 4 years ago I bought a new Volvo estate. As a cash deal, it was £50k. But if I had it on Volvo 0% Finance over 4 years, I could have an extra £5k off. Utter madness. So obviously I cancelled the idea of paying up front and accepted their finance offer.

So, I had the brand new car with all the modern conveniences, better mpg, better performance, and better comfort than an older model. Plus a warranty and no MOT’s to think about. Oh, and the best part of £50k still in my account to invest elsewhere. The biggest no brainer ever.

Still have that car (V70) and have to say that it really is jolly good. And useful.

Moral of the story. Don’t make a decision based on a generalisation. Check the detail of the deal and decide from there.

(Though of course, I do agree that lots of people buy depreciating assets that they can’t really afford, on expensive finance deals. Which is clearly a road a ruin if done repeatedly.)

 

[c4sman]

There are always cases where finance made sense (0% and sub 2%) mentioned above, especially if it comes with a chunky discount. But these are not the norm in the distant past or the current (and probably future) climate. We’ve been through a period of cheap money that has ended and I’m glad I don’t have to change my lifestyle as a result as I did not become addicted to it (cheap money that is).

 

[philw696]

I've never bought a new car. The newest I bought was 6 years old. (Alfa GTV that cost fat end of 30k when new, with options. I paid £6k). That's the reason I used to have, right there. Whatever price level you're at, used gives so much more for the quid.

But around 2 years ago, I started to wonder. The new finance deals that everyone seems to do (low payments) and proper warranties... surely one day, for the pleasure of driving something no one else has, specced how I want it, and that new car smell... just once in my life I'll take the plunge..

Then around a year or so ago, I started to realise, with some melancholy, that I will never, ever buy a new one now. I'm just not interested in electric cars, the remaining interesting ICE cars are drying up. But most of all, it's the needless irritating tech... I don't want to go to sub menu 7G of a touch screen, trying to get past Spotify to turn the f** heater on. I want buttons and leavers, and dials.

But most of all, I emphatically don't want autonomy of any sort. My old man recently bought a new VW Up... and if you try to change lanes without indicating, it tries to steer you back again.... he hates it, its dangerous ffs, and that stuff is now compulsory. As is automatic speed restriction... which I loathe just as much.

All this rubbish has been forced on us by needless nannying legislation, (i feel sorry for the manufacturers) and i will have no part of it.

That's exactly me and it's always given me a buzz buying used cars that I could never have afforded new for the 47 years I have been driving just wished I had kept some of them would have been the best pension option ever.

 

[Delmonte]

As a PS what I said before... there are, technically some exceptions when I said no new cars ever.... I'm talking the restomods, which are sometimes classed as "new". Kimera 037? All day long... (following a big lottery win) Alfaholics GTA, Jensen Interceptor R, MST "Mk 1 Escort"...
But regarding the latter (the MST) which doesn't have a donor, and is actually classed as new. How tf do they get away with not adding all the autonomy nonsense? Is it a low volume loophole? Am genuinely curious...

 

[Oneball]

The MST Escort goes through IVA same as a kit car so it’s doesn’t need type approval but does have to meet certain conditions that an original one wouldn’t. Morgans for example classify as low volume so don’t need lane assist etc but are type approved so each car doesn’t need to be submitted for IVA.

 

[j s pollo]

I have jet to find someone that can describe how buying a 'normal' new car with cash is better than finance.

The current financial situation has shaken things up a little by increasing finance rates, but it's good to see that those are starting to settle and fall again.

simple do not buy a motor new buy one two years old tell em the deal is in cash and you expect a big discount and see what they will do for you remember cash rules ok if they wont give you a fair deal walk away there are plenty out there who will

 

[Ewan]

simple do not buy a motor new buy one two years old tell em the deal is in cash and you expect a big discount and see what they will do for you remember cash rules ok if they wont give you a fair deal walk away there are plenty out there who will

Not necessarily. And it depends what you mean by "cash". If you mean physical notes, most main dealers wouldn't even want it. It's a hassle to take and pay in, then there's the money laundering checks, etc. Cash like that is fine if you are spending just a few grand at a back street trader, but no good on a £50k car from a main dealer.
Or if you mean cash as in you will instantly transfer the money from your account to theirs, well there's no advantage in that either. As that's exactly what the finance company does anyway.
Indeed, the dealer would prefer finance (if they arrange it), as they get an added kick-back from that.

Given the state of the economy/market, I agree that there should be some good deals to be had on nearly new cars this winter. But how you pay for it should make precious little difference.

 

[will-w]

simple do not buy a motor new buy one two years old tell em the deal is in cash and you expect a big discount and see what they will do for you remember cash rules ok if they wont give you a fair deal walk away there are plenty out there who will

Cash is not king when it comes to purchasing new or used cars from dealers, it hasn’t been for many many years.

Dealers often make just as much from finance kickbacks as they do margin on the car, and they get additional bonuses for meeting quarterly quotas, especially when financed with brand backed finance.

Debt is big money - even interest free agreements are often sold from one provider to another, in the hope that a reasonable percentage of the agreements purchased default in some way to add on penalties.

 

[will-w]

My method doesn’t apply to everyone but you’ve touched on the key thing - try not to go into the office/workplace if you can avoid it. There really is no reason to unless you’re a trainee/training said trainee. It’s not a perfect system but what is?

For me I’d make use of the park and ride schemes to get around emissions charges.

That approach honestly does not work for a large proportion of the workforce. Many organisations are now bringing people back into the office, and public transport is back at pre-Covid levels of overcrowding.

My work can only be done in one room in the world and by an extremely limited number of people. No outsourcing, no work from home, and a requirement to travel to an extremely unpleasant place to drive, with congestion charge and £42 parking charge a day. Add on the additional fee because you’re driving an old ******* that doesn’t meet the emission requirements and it’s simply unattainable.

 

[bigbob]

I suppose that by playing with discounts and incentivised APR rates, dealers can vary what a car really costs to own without changing the list price. Even with apparent shortages of new cars, Volvo have offered me £12k off another XC90 but then again list prices have gone up a lot so they are just getting us back to where we should be IMHO.

I‘m watching some threads elsewhere to see how Porsche charging 11.9% APR on new cars influences sales. Looks nuts to me!

 

[Delmonte]

That approach honestly does not work for a large proportion of the workforce. Many organisations are now bringing people back into the office, and public transport is back at pre-Covid levels of overcrowding.

My work can only be done in one room in the world and by an extremely limited number of people. No outsourcing, no work from home, and a requirement to travel to an extremely unpleasant place to drive, with congestion charge and £42 parking charge a day. Add on the additional fee because you’re driving an old *** that doesn’t meet the emission requirements and it’s simply unattainable.

Just a mention on public transport overcrowding. In the North, the only public transport we have is trains (buses are beyond pointless). Commuting services on trains are only back to carrying circa 60% of what they were pre covid, its a very long way from the overcrowding we used to see (I work in the industry).

 

[CatmanV2]

Tubes seem full when I venture into the smoke. As full, though, can't accurately tell

C