Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - Janmac41

Hi, want some advice have found July 2014 model on sale 14000 miles on clock. Trading in June 2003 petroll 1.6l petrol 118650 miles Price on car was £13995 have haggled that to £13600. Have been offered £750 if I trade Beetle in. Would plan to take bank loan for £7500 ( can get 3.3% apr with m&s bank repayments £218 X 36months and pay the rest with savings using a credit card to hand over some of deposit so I have the extra security that using a credit offers and paying off the card before I incur any credit card interest charges. The car is used for work not just commuting and I don't want to take the depreciation hit of buying new. My brother telling me I should buy new on PCP or hirer purchase. I would also plan to get AA or equivalent background check on car. Any advice appreciated

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - Big John

How many miles a year do you do?

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - Janmac41

Previously would have been average of 800 a month may be more with new job

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - Big John

I did something very similar in May/June 2015 when I did a deal on a 14 plate 14 month old Skoda Superb 1.4tsi with 14k miles (blimey lots of1's & 4's) for just over £10k. I was offered a low price for my old Superb but sold it privately giving someone else the benefit (whilst I was with the dealer!)

I try to buy cheap (but nearly new) and ignore future depreciation because my annual mileage (16k) quickly reduces the value to not a lot - I tend to keep cars a long time thereafter (10 years with my last car - another Skoda Superb bought at 18 months old)

I usually target a car that is at the end of it's model life (new one launched Sept 2015) for two reasons:-

>So that the purchase price would be palatable (nearly 50% off from new in my case)

>Any issues with the particular model have been ironed out

Buying nearly new works with bigger cars (which I need for now) but for small cars I believe buying new but with a larger discounts from websites such as drivethedeal or carfile.net is probably better - yet again you won't get big discounts on a new model so the above still applies

Edited by Big John on 17/01/2016 at 22:31

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - slkfanboy

Slightly differant appoach. Used car are real bagin these days with the arrival of super low interest rates enabling many to purchase new on a PCP! Which means after 3yrs and around 10k a year they have to sell or replace the car. This has totally depressed the used car market!

Further a mobility schema car are sold with a full service plan for 3yrs.

Thats great news for me a 3 year old 20k dealer purchased ford focus 1.6 Zetec for 8K all in. Full service history and runs like new and clean inside.

Happy days I have 6K in the bank and they take my old car away for 2K. Happy motoring for the last year and to think i could have piad 18K for a new one!

Most like if i keep the car 5 years (it will be 8) and should get around 2.5K-3K losing 5/5.5K so costing £1750 a year verses £4000 a years of the new car. Big bonus no monthly payments meaning money in the bank or an upgrade to my other car a Merc SLK, something for the weekend sir?

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - Janmac41

UPDATE emailed dealer to find out if car had been in any accidents or sustatained any damage. He emailed back asking me to call him. When I called he said when the car was being valeted the guy noticed that the paint on the passenger wing varied from the rest of the car. I asked if he could find out how this had happened. I was thinking it could be anything from someone being careless with a shopping trolley to a full blown collision with damage to axle. I mailed stating I would be now resistant to pay asking price without having more details. Dealer mailed back saying they were confident in the car and I was welcome to bring my own body man ( cause we all have our own body men ??) To look at the car. I see AA do a presale check with guarantee but are not available in N. Ireland tried one other site they charge to same as AA but no guarantee. Any suggestions/Advice love the car but don't want to be saddled with a pig in a poke!!

Volvo V40 Cross Country 1.6 diesel lux model - Buying and financing used car - RobJP

Lots of cars pick up bumps and scrapes. It's no big deal.

But if you aren't sure, walk away, go for something else.