I would think carefully about depreciation.
Unless you plan to run it into the ground it might loose more per year than a newer car.
Perhaps once it is over 100,000 miles it will be very difficult to sell.
You say you do low mileage so I suppose you have a couple of years until it reaches this point though.
I paid about £6000 for my mondeo when it was 2.5 years old. I recon a fleet or supermarket new price would have been 12k.
So it lost 2.5k per year for the first 2.5 years.
It is now 5 years old and is worth maybe £1500. Therefore £1800 per year.
But I've paid for maintenance whearas a new car would have had a three year warranty.
What sort of BMW 3 series would you get for £3000 I wonder.
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Depreciation isn't an issue. I intend to keep the car for 3-4 years until I finish Uni, when I'd like to replace it with an E39 5 Series or an Impreza.
I've assumed the car I buy will be worth £500 when I've finished with it, which is a very pessemistic valuation but ensures I am not in for any nasty shocks.
If I buy one for £2.5k and keep it for 4 years, it'll loose what, £500 a year overall? I can easily live with that.
As for 3 Series, I wouldn't have thought they are even worth looking at for £3k. I'd probably get a K/L or perhaps an M plate 318i. Nowhere near the specification or the age of the Mondeo I'd get, which would have leather, aircon, cruise control, etc etc. The BMW would have none of that.
I rang the dealer about this car today. It turns out it's actually a Ghia and not a Ghia X, so this couple with the fact I'm a bit wary that the ad claims to be trade but gives only a mobile number, and the fact its quite a trek to get there, has led me to decide to leave this one and see what Joe from Auctioncarbuyer can pick up from Auction.
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Come on Keith!
YOU lose 1,800 per annum depreciation, plus paying for servicing. Assuming nothing horrid happens - which could happen at any time, servicing per annum won't change much between 3 and 7 years old.
If you take your 1,800 pa as a benchmark which is obviously a level of depreciation YOU are happy with (cheaper than on a new car), then provided this Mondeo gets past August 2005, it's a free car thereafter on your basis.
There's something else to add to your equation. You also have to think of the cost of lost interest. If he spends 3k on a car, not 12k (which you recommend), then he has 9k more to play with. He's a student, so if he manages to borrow the money at 8% - he'll be lucky... he's £720 per annum better off. If he has the money and puts it into a high interest rate account paying 4%, he's £360 per annum better off. That'll pay for the servicing.
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Mapmaker,
I most certainly am not happy at losing £1800 per annum on an old Mondeo. A new Porsche Boxster probably wouldn't loose much more, although I appreciate the lost interest argument.
Servicing most definitely increases between 3 and 7 years old. Items such as cambelts and tyres are rarely needed before 3 years.
All I was doing with my example was trying to give a little food for thought.
Anyway I agree that if the proposed V reg mondeo is kept for three or more years, and gives little trouble, then it is quite clearly a good buy and depreciation (and lost interest) will be minimal.
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You must be a young man with plenty of time to take soo long to make a decision.For me,life is too short.Its a used Mondeo,not fine art.
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Why are you so model-specific looking for what is, after all, a deeply dull, uninspiring and not particularly good car?
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Three thousand pounds is still three thousand pounds.
Ed.
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the only ghia x i have seen haveall been 2.5 V6. >>
have seen a 98S V6 manual ghia X 4door 61k for $3995
good? bad? OTT?
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I'd probably want to pay a bit less for that V6. Try £3395 if you're feeling generous - I've seen them go for a lot less.
Incidentally, Mike, I've just done an AutoTrader search for Mondeo 2.0 Ghias (it'll find the ones with an extra X), nationally, less than 5 years old (i.e., all '99 on cars) and it comes up with exactly one car under £3k.
Yours is silver, isn't it? It also has a windscreen sticker showing £4495 and has a mobile number only, although it appears to be on a forecourt. Sounds like it's been in stock too long and he's letting it go for a couple of hundred over the auction price to keep his cashflow going.
Unless there's something seriously wrong with the car (e.g., HPI, accident damage, no maintenance) then I can't see why you shouldn't go for it. Bearing in mind, of course, that this doesn't mean you shouldn't haggle or that it's a risk free deal, just that, on the surface, it's a damn good one for you.
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Im- a 97P ST24 with 120k and history sold for 1850 this morn at blackbushe.
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Saw a slightly ropey looking (but maybe just badly prepared) 107k 98S Ghia X go for £1800, too... but then a genuine low miler is hard to find in a car like this and 60k in 5.5 years is pretty low really.
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Lots of comments, thanks :) I'll address each one one at a time :)
> Why are you so model-specific looking for what is, after all, > a deeply dull, uninspiring and not particularly good car?
Firstly I don't think it's uninspiring, and secondly I'd like to know what makes you think it's 'not particulary good'. All the reviews I have read praise them highly, owners are very pleased with them, and it appears to be creme of the crop for this sort of car at this sort of age.
I'm model specific becuase I can be. I'd *like* to change my car, I don't *need* to change my car. Becuase of this I can take all the time in the world, and given I wish to keep my next car for 3-4 years, I want to make sure I get the best I can, and the one with all the toys seems to me to be the one to go for. I'll only be thinking 'If only' for the next 3 years if I get a GLX or something :)
David,
Yes, it's the silver one with the £4495 screen price. I called again today and got the guy to check whether it actually was a Ghia X or not, becuase I was doubtful. He checked, and it wasn't. It's a Ghia, not a Ghia X so I'm less tempted now. Plus the fact it's in London, and it's just a mobile number which doesnt fill me with confidence so I've decided to wait.
This 98S you saw go through for £1800 - was it at BCA Blackbushe? Suprised as I've seen nothing on Auctionview for the last week or so.
Many thanks for all your help everyone :)
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£1800 was actually the price on a car at a small local auction in Wales. It was a saloon in a dodgy green, not sure if auto or manual though. No idea of history either.
For some reason, that auction seems to specialise in utter tat that didn't even look good enough to retail at any price but which goes for a good few hundred quid.
Then the few sub five year old cars go for not much, basically because the auction crowd seems to be full of privateers (evenings only) looking for the cheapest possible motah.
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" a deeply dull, uninspiring and not particularly good " OK we can all have an opinion but this seems a little harsh, dare I say snobby!! I've been driving a Mondeo TDCi for a couple of weeks (hire car) - if it's not a good car, then I have yet to drive a good one. My opinion, obviously.
As to it advertised as a Ghis X - I am starting to wonder if this isn't a ploy. By coincidence my 406 was advertised as a GTX, when I went to see it "oh no, that was a mistake it's actually a GLX...". They seemed genuine - they told me straight away as soon as I mentioned the car. As a GTX it was a bargain, as a GLX it was a good price and bit of haggling later I came away as a happy punter.
Cynicism = on. Would I still have gone out of my way to see it had I known it was a GLX in first place? Yeah, probably...but it makes you wonder.
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I recently got the use of a V Reg Mondeo Ghia, not sure if X? at work for 2 months. Had 70,000 miles on the clock and drove great. Worst fuel consumption I got was 37mpg and I wasn't holding back (well thats what you do with company cars isn't it)
Only drawback was that it was black and had obviously been treated to drive through car washes all its life!! If it was going for £3k I would jump at it!!
All round elec windows, front heated screen, aircon, trip computer, alloys, fogs, cruise control, handsfree kit,
Thoroughly recommend it!
Oh forgot the traction control and ABS as well!
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I recently got the use of a V Reg Mondeo Ghia, not sure if X?
i think the diffrence between ghia and ghia x was the x pack had leather seats, heated seats cd autochanger and tape player instead of single cd, electric drivers seat, doors open and low fluid levels display although i think this was on early ones and was deleted by V reg. If memory serves me right on V reg i think the ghia x had climate temp control (but not the ghia)
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No matter what a lot of people think these cars are good value but just do not buy the first you see there are plenty around.I paid £7500 in Oct 99 for a Jan 97 P (MK 2) 50k TD estate LX model. Whats it worth now ? i do not know. Since buying it ( with new belts and pulleys/tensioners included ) it has passed every MOT first time. Things that have gone unserviceable 1x battery @ £60,2x Glow plugs @ £11 Ea and washer pump @ £30 would i get p/x it for something else NO.
Why ? Servicing costs reasonable @£100 a year in local dealer and they'll do the cambelt and tensioners for £180 when it reaches 90k.From others i have seen advertised with intergalactic mileage these cars run on and on (if you change the belts when due). Yes i agree the engine was not Fords best but sit at 60 and it does 45MPG 600 miles to a tank.Insurance £230 protected fully comp 8 years NCD and i can leave it parked without fear of it being either stolen/ keyed/broken in to.
Would i like a new car yes ? can i justify it to myself NO.
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Fine cars, only downside to them is the awful depreciation, however it is not much of an issue if you intend to keep it a few years. Must be 2 litre or above engine wise though, my 1.8 is a slug below 4000 rpm!
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At last i have seen one. At auciton today a 98R Mondeo 2ltr Ghia X with 59k miles warranted, 5 door hatch in silver. At first glance it looked good, but i spotted a few things against: front windscreen had been changed for one without heating elements, sharp crease in one rear door, shallow dent in the other, laquer on both front wings starting to bubble (would anticipate quite a lot of it just coming off with a good polish). Top book for the car is about £2500, i thought minus 100-150 for the odd bits not quite right. I would of paid 2350 for it, which i thought was quite a lot as I bought a similar milleage but better condition 97R 2ltr glx last march for 2350. Bidding started at 2k, i bid to 2300, and it just kept going. It went all the way to 2975!! Michael is this now your car??
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Firstly I don't think it's uninspiring, and secondly I'd like to know what makes you think it's 'not particulary good'.
We had an R plate 2.5 V6 Mondeo as a company car at work until recently, so my opinion is based solely on this car. I found it sluggish for a big engined car, noisy for what is supposed to be the "top of the range", the quality of the interior felt poor (cruise control and the passenger heated seat had only ever worked intermittently), deeply dull to look at, and just lots of little things that all added up to leave a particularly unimpressed feel. Having said all this, this car was sold a couple of weeks ago for £1500, which i have to admit represents excellent value.
Up to you really, i'm just offering my opinion. Personally i''ve probably changed my car at least twice in the time you've been looking for this one, but hey, everyone's different!
If your after as many toys you can get, i'm assuming that it's the fuel consumption/insurance which is putting you off the V6?
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> If your after as many toys you can get, i'm assuming that
> it's the fuel consumption/insurance which is putting you off > the V6?
Pretty much, yes. Insurance when you are under 21 is a nightmare.
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I wouldn't have thought there was a huge difference in insurance between the 2litre and V6 - have you checked? If it's a relatively small amount, then it may be worth it if you take into account the fact that due to there being far more V6's about yout may be able to get one a fair bit cheaper than the fairly rare Ghia X?
Anyway, why are you buying a mondeo if you're under 21?!?!?!?! I'm 25 and still haven't got to the point where i would consider mondeo ownership acceptable! (only joking by the way!)
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The V6 is Group 16. Group 16 cars + 19 = No (Although I'll be 20 by the time I ever find one) :(
It's not just the insurance, it'll spend a lot of time in town so it'll absolutely guzzle fuel even more than the 2.0, it's more expensive when it goes wrong, etc etc.
I'm buying one becuase I really like that sort of car. Not into hot hatches, more into nice saloons (Ok, well it's a 5 door hatch). Hope to replace it with an Impreza or an E39 5 Series in 4 years or so, so you can see the sort of cars I like :)
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If I wasn't tied into my car and was going to change it, a Mondeo Ghia would feature fairly highly on my list, and I'm 19, so you're not alone! :-)
My mate had an L plate 1.8 LX and it's what got me to join the Mondeo fan club, it was a really nice car, ultra reliable, even when it was finally scrapped for minor accident damage, very comfortable as well on the many long journeys that he used to make.
Blue
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I make three of us young un's [uns?] in favour of Mondeos! Looking at buying one in a few months, gunna hopefully stretch to the just old new shape [P reg] 1.8GLX or something.
My dad has 2.0Ghia, v nice car, not broke down in 3/4 years, since he bought it and it's an L reg!
Big up the Mondeo, bo!
Kev
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