New cars cheaper than used!!?!
Discussion
Well, you learn something everyday. I've been looking at an AMG and was interested in a year old car, £12k less than list price of a new car, and have a few nice extras. Was looking at a deposit and a 2 year "lease", got the figures and thought, oh big deposit but monthlies aren't tooo bad... Then I looked at the Merc new AMG deals and found that I could buy a new AMG and over 24 months it would cost me about £1500 less than buying the used car.. yes, that's cheaper than a year old car.... Then I did some digging around and found some good lease deals, and found that with a couple of deals I was looking at being £6000+ better off after 24 months by leasing a new car outside of the mercedes dealerships compared to buying a used car from them... Seems crazy that I could order up a new AMG and actually save £6000 over the price of a user car over the same period.
I know there's less profit in the used car market, but they were hitting me with a huge deposit and 10% APR. I'd never really thought the new car market was ever cheaper than the new car market, but I'm looking at a different light now... all those times I've gone for 1 year old cars thinking "wow, I'm saving the depreciation", I'd never talked new cars over 2 years with the dealers.. Lesson learnt!!
I know there's less profit in the used car market, but they were hitting me with a huge deposit and 10% APR. I'd never really thought the new car market was ever cheaper than the new car market, but I'm looking at a different light now... all those times I've gone for 1 year old cars thinking "wow, I'm saving the depreciation", I'd never talked new cars over 2 years with the dealers.. Lesson learnt!!
Shows I don't do my research enough when buying cars! DOH! New never even crossed my mind despite the "push" from manufacturers, it always seemed better to look used. There are certainly some amazing deals out there. I've seen everything from 50% down 0% APR for 3 year to 20% off (e.g. no VAT) to huge dealer contributions. Impressive stuff. There's going to be a flooded used car market within the next few years by the look of it.
I posted similar thread last week. I was looking at a focus, dealer had £15k for used (demonstrator) or £13500 for a new one, same spec. He said i could have the used one for £14, with a look of like you would really want to, but any less and they wouldnt make any money, they'll just leave it in the yard as a runaround.
My wife said, so we can buy a new one and it'll be worth more if we try to sell it? Unfortunately not, it wouldnt sell, couldnt sell privately as under dealer finance etc.
My wife said, so we can buy a new one and it'll be worth more if we try to sell it? Unfortunately not, it wouldnt sell, couldnt sell privately as under dealer finance etc.
haynes said:
I posted similar thread last week.
Sorry missed that, I was just so taken aback at the whole thing I just wrote something asap! 
haynes said:
I was looking at a focus, dealer had £15k for used (demonstrator) or £13500 for a new one, same spec. He said i could have the used one for £14, with a look of like you would really want to, but any less and they wouldnt make any money, they'll just leave it in the yard as a runaround.
I know that look well!! That's the look I got from the dealer when I said about a new car vs the used car. He kept saying it's better spec but that's not really the point, it's a damn good spec anyway, so the extras I wouldn't bother with. Must be desperate for them. Had a case of a car recently where they were selling it used for less than they'd bought it from it's previous owner just to try and shift it as the deals on the new cars came in cheaper. Poor buggers, I do feel for them, but money is money and if it's new and less, the choice is clear! cydaps said:
Well, you learn something everyday. I've been looking at an AMG and was interested in a year old car, £12k less than list price of a new car, and have a few nice extras. Was looking at a deposit and a 2 year "lease", got the figures and thought, oh big deposit but monthlies aren't tooo bad... Then I looked at the Merc new AMG deals and found that I could buy a new AMG and over 24 months it would cost me about £1500 less than buying the used car.. yes, that's cheaper than a year old car.... Then I did some digging around and found some good lease deals, and found that with a couple of deals I was looking at being £6000+ better off after 24 months by leasing a new car outside of the mercedes dealerships compared to buying a used car from them... Seems crazy that I could order up a new AMG and actually save £6000 over the price of a user car over the same period.
I know there's less profit in the used car market, but they were hitting me with a huge deposit and 10% APR. I'd never really thought the new car market was ever cheaper than the new car market, but I'm looking at a different light now... all those times I've gone for 1 year old cars thinking "wow, I'm saving the depreciation", I'd never talked new cars over 2 years with the dealers.. Lesson learnt!!
I think the key thing to note is, leasing or owing a large percentage of finance sorta isn't buying. Not until you actually own all of it and owe nothing out. Interesting none the less though I know there's less profit in the used car market, but they were hitting me with a huge deposit and 10% APR. I'd never really thought the new car market was ever cheaper than the new car market, but I'm looking at a different light now... all those times I've gone for 1 year old cars thinking "wow, I'm saving the depreciation", I'd never talked new cars over 2 years with the dealers.. Lesson learnt!!
Is the OP saying it was cheaper to lease a new car than to lease a used. Or cheaper to lease new than buy used ?
Personally, I don't understand leasing. I'd rather own my car, and do it the correct PH Co. Directors, goatee wearing, powerfully built, red-bull throwing manner. Buy it outright. With cash.
Personally, I don't understand leasing. I'd rather own my car, and do it the correct PH Co. Directors, goatee wearing, powerfully built, red-bull throwing manner. Buy it outright. With cash.
300bhp/ton said:
I think the key thing to note is, leasing or owing a large percentage of finance sorta isn't buying. Not until you actually own all of it and owe nothing out. Interesting none the less though
Yes, this is true! I guess in the past I'd always strived to try and aim to buy the car and own it outright, but then I started appreciating the cost of this was high. there's only one car I bought outright and that's my 355 but that's kind of a different car and hopefully an investment! But yes, it's basically renting it otherwise!
Fartgalen said:
Is the OP saying it was cheaper to lease a new car than to lease a used. Or cheaper to lease new than buy used ?
The OP was that it's cheaper to "lease" or PHP a new car than a used one. The cost of a used car is obviously less so long term if you can buy for cash buy used, otherise the leasing/financing of a new car is less than a used! Gassing Station | General Gassing | Top of Page | What's New | My Stuff