buying a new smart. Financial suicide?? - J500ANT
Hi,
Ive been looking into buying a mk7 smart coupe passion with standard spec plus bigger wheels, steering wheel paddleshift and upgraded speakers. This lot plus a few accessories works out at £9143 on the road. I've yet to negotiate a deal with the local MB/smart dealer, but is buying a smart financial suicide? I cant find any residual value estimates online, i'm worried that it'll be like a Daewoo in that you only get a good trade in if you go back to them.

Any one got any other suggestions for about £9k NEW only, has to be auto with aircon, anything else is open to negotiation.

Tony
buying a new smart. Financial suicide?? - chris2003
Hi Tony

I don't much about the trade in values of the Smart but Parkers on-line price guide do list them under 'MCC Smart',

www.parkers.co.uk/pricing/used_car

For a 2001 Passion model on a 51 plate in A1 (dealer) condition you're looking at a price of £6210.

For a private sale you drop down to £5950.

This is just for the basic model (not including the extras you're talking about). Not too sure how much they'd be worth.

I've always found Parkers to be accurate in the past, if you can't get a trade book.

Hope this helps!

Chris
buying a new smart. Financial suicide?? - daveyjp
I doubt it. We thought this when we bought ours 18 months ago. A LHD Mk5 UK spec Pulse. We bought it on PCP as we were unsure of resale values and whether we would sell it at all! We will owe £3300 in July, it will be worth £4-4500 on the private market. Have a look at www.thesmartclub.co.uk for loads of info and a dedicated messageboard if you are still unsure. Get the smart, enjoy the fun and get along to some meets - if you are based around Manchester there is a meet every Thursday night.
BTW - you won't get any discount on the cost - try and get some goodies thrown in though. We managed a 6 change CD player and some mats.
buying a new smart. Financial suicide?? - mab23

Some Smart's qualify for the new 100% capital allowances tax break for low emmission cars (with less than 120g CO2 emissions).

The way to work this is

a) set up a sole trader business
b) buy the Smart for the business
c) claim 100% capital allowances in the first year, therefore creating a nice big loss, so you can claim 22% or 40% (if you're a higher rate taxpayer) of your tax back
d) result is that your Smart costs you 22 or 40% less than cash price.

You then have to figure out how to run it as a company car without paying too much tax, but that's left as an exercise for the reader...

I am not an accountant, I will not do your time in clink if the taxman doesn't like this scheme. :-)

mike
buying a new smart. Financial suicide?? - J500ANT
Mike:
I already get my cars vat free cos im disabled and having it adapted.

HOWEVER
They have offered me the princely sum of £6250 for my trade in. My trade in is a 02/52 Fiat Punto Sporting Speedgear 6000miles with added aircon, which lists at near on £12k. Thankfully due to exceptional negotiation on my part combined with the above I paid £8400 for the car, but even so thats a big loss for me and a HUGE loss for someone who paid full price new for the same.

So i may not be buying a smart after all, unless they can offer me a sensible trade in, somewhere around the £7500 mark, seeing as the same cars are on Autotrader for £8995 - £9995 with similar mileage etc..

I think i should have asked the same question about the Fiat before i bought that!

Tony
buying a new smart. Financial suicide?? - DavidHM
I find it hard to believe that anyone is paying full price for Puntos now... £9k for a 52 plater sounds extortionate. A smart dealer has basically no chance of retailing a Punto, so he'd have to auction it or put it through the trade... and given that £7500 sounds like an optimistic price (be honest, that or a brand new Micra auto at £8000 - which would you have) he'll want to make some profit and leave some for the next man. I think £6250 is still on the low side, but not by much.
buying a new smart. Financial suicide?? - J500ANT
DavidHM:
A new Micra auto is infact £8900, but i get your point. I personally would say that a £9k Punto (almost top of the range mind you, whoopeee cushions and a bidet!) isnt that bad value compared to other superminis. Its no better mind you, but it aint no worse!

Cardew:
I did look (02 reg's, not 52 but thats hardly going to make a huge difference) but it made me weep!

My question now is, do i stick with what ive got because i cant see that its going to be worth a lot less in another 6 months time, or do i try my hardest to get out of it while i can, by whatever (legal) means possible?

Tony
buying a new smart. Financial suicide?? - Cardew
Tony,
Have a look at the Motorpoint site. They have three x 02/52 Fiat Punto Sporting Speedgear at £7,199 with less than 3k miles.

C
 

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