I cannot understand nowadays why anyone would want to buy a brand new car, even though prices are starting to fall. I mean, would you buy a house if you knew that it would only be worth half of what you paid for it two or three years later? (and plenty of cars cost as much as houses up here in the north!)
I think there are only two reasons people buy new, the 'prestige' of owning the latest no plate (which now look all the same) and the 3 year warranties offered on most new cars now. If you have the money to throw away simply to be seen by your neighbours with the newest plate fair enough, and a long warranty can offer peace of mind, but where as 10 years ago £1 - 2k bought you next to nothing in terms of a car with a future today with second hand prices hit by new car reductions you can buy plenty of L/M/N/P reg cars with years of service still ahead of them.
I would be interested to see other peoples views on this, thanks.
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As someone that earns my living from selling cars, i just love it when people change them.It really gladdens me when people spend their hard earned to just buy a newer car ,not a better car,but it keeps me in pies.
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Miller wrote:
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Right on Miller!!!
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I am a vain poser. Is that reason enough?
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Yes, guaranteed loss of money no question and as said, at odds with the total house price obsession we have in this country.
I'm sure by far the vast majority of people who buy a new car do so for prestige purposes. Why else carry on paying more than most other countries in the world? Maybe a legacy of our company car culture which drives the desire for "new every three years".
Lets all not renew our cars for five years and see what happens to prices!
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Of all the motor manufacturers in the world, not one produces used cars. So if nobody ever bought new...........
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I think what you are saying Miller is generally true but the same can be said of almost any item we buy.
Do you buy second hand televisions,washing machines,fridges, video's etc etc.
Some do and it probably makes good sense and economics.
It probably comes down to whether you can afford it and also most men are simply little boys who like shiny new toys.
Often I have changed cars and found good reasons to do so. We all know the reasons..its soon going to want new tyres, exhaust, MOT etc but really its just an excuse and often we regret it later. However I am definitely not going to change my car again.....until next time.
Alvin
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We've owned perhaps 50 cars between us over the past 25 years. Just two have been new with our money plus several new company cars.
Huge pleasure from collecting and using a new car. Not a pleasure I can afford or need now, too much else going on and mileage requirements low.
Happy to champion the value for money used car but also happy to allow others the pleasure of their choice without complaint.
As Tom and Tomo said........
Also if we win the lottery I have my ultimate "lottery car" in mind, a Mercedes TD Estate about 1995 in dull metallic blue with about 90,000mls recorded. That'll do me.
David
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I must disagree with you there. How about the HIndustans in India, or the Paykans (ex Hillman Hunters) in Iran?!!
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I actually bought a new car once. It was a Citroen AX10, pre-registered and delivery mileage. The attraction at the time was that (a) it was priced at 20% below list (b) 3 years cheap finance and (c) a year's insurance thrown in. It was actually very pleasant to own a car which I knew did not need tyres, battery, exhaust, clutch or brake pads replaced at any time in the foreseeable future. But even then I wouldn't have bought it if I hadn't been planning to do 60,000 miles in it (which I covered in 2 years) and then give it to my mother to replace her ageing Vauxhall Nova. She has since put just 6,000 miles on it in 3 years and I suspect it will last her until she gives up driving. Buying a new car at list price, running it through the most savage period of depreciation and then selling it just as it is nicely run in to buy another one - now that's mad.
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I can't agree that most people buy new cars for prestige reasons. Surely the main reason is new cars are generally an improvement over older models. with ABS A/C long warranty etc. Also buying an older car involves some degree of risk - has it been crashed? clocked? will it require expensive repairs soon? hassle of MOT etc. Many are prepared to pay for the peace of mind that a new car brings.
Nobody would argue that in strict economic terms it makes sense to buy second hand. However there have been plenty of threads on the virtues of buying £300 bangers which make even better economic sense; I suspect the majority of us don't drive such cars if we can afford better.
Bob H
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I'd say(that is, I would were I a believer!) God bless people who lose face if not in a car just registered. For thus I enjoy the imminent acquisition of a rather gorgeous 12,000 mile machine from Nippon.
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Agree completely. Arguments we have heard for buying new include:
- there wouldn't be any used cars if we didn't. Of course there would, they would come from company ex-leases;
- pose value. Oh, yeah, until the new model comes out next year? Expensive ego trip. In my opinion there is a lot more stigma from driving something only just out of date than something seriously out of-date! Unless that happens to be a FErrari or a Porsche. Plus my daughter rather likes the reverse snobbery of driving a banger. Then she can rattle on about "green" things...... I mean, really, if having a later cftdi Mk 16 than Mr JOnes turns you on, you need to get tested for borderline personality disorder. I mean, can you imagine the conversation at the neighbourly BBQ - "much better now they've abolished the ashtray. Not only that it gets another 0.125 mpg, AND the new ride height is better over the sped bumps......blah blah snore snore..."
-still on pose value? An old Porsche ought to beat a new Astra for that any time!
- reliability? Huh! Just read these columns....
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Oh dear, the old guy's losing it again.
He's forgotten that unbeatable sensation when you slide behind the wheel of your new ride -- the smell! Trust a woman to be the only one to comment on that.
Anyway, he can't talk, the annual Harley catalog stays in our batheroom for weeks, and he's got his order in for the Centennial Harley in 2003. Not cars I knw, but surely the same dynamics at work here?
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Miller
Evidence to your point was shown quite clearly in Honest John's Daily Telegraph column a few weeks ago when, what sounded like a really genuine old man, had bought new a 1995 N Fiat Bravo including air con, ABS and metallic paint for, if I remember correctly, a shade over £15k. He was now trying to sell it, beautiful condition inside and out, 63,000 miles with a full main dealer service histroy, how much he paid for that I don't know, and Honest John thought that it was worth between £2000 to £2500.
Bet his ego was really tripping.
Andy
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Andy,
Have customers with same car/year and same sort of values when they looked at trading up to new again. They were amazed by the cash needed to get back.
David
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Quick back-of-fag-packet calculation suggests that the gentleman's car has cost him nearly 40 pence a mile all in. Ouch. My cars usually work out at around 12-15p a mile, and to do what he has done and not be any worse off, I'd need to earn another ten grand a year before tax. I'll stick to bangers, thanks.
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Usually have no reason to think of the cost per mile on a customers car.
This made me work out an example for what I regard as one of the most costly cars I maintain. About £13,000 total for 18 months family motoring, seems stagering to me then I find it only equates to around 28p/mile. Not too bad then and it shows just how little most of my (more lucky) clients pay for their motoring with the "beat the sysytem" advice I give them.
David
David
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Interesting to compare that to the 45p per mile (each) that it costs to get from home into town.
And then they wonder why more people don't use public transport!.
By the way, For Bill Doodson's benefit, I recon the motorbike costs 10p per mile, all in.
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