Financial advice regarding potential car purchase please

[AndStilliRise]

a bit of a loser said:

If it's relevant I do 20 miles per day with weekend blasts, I'd say no more than 8-10k miles per year

Financial advice would be buy yourself a push bike and save some money.

[Jon39]

jonny70 said:

Jon39 said:

Another reason that I like new car buyers, is I always like to buy my cars when they are between 2 and 3 years old, because doing debt on depreciating assets is a mugs game. Buy a pristine, lightly used, three year old at HALF PRICE. My last one cost the original new buyer six figures. Since year four, there has been zero depreciation.

What car did u buy at half price that was 3 years old that cost the original owner 6 figures ? ( was it an Aston can they really be bought 3 years old for 50 % ?)

Correct.

I did not know at the time of purchase, but can now see that the main dealer asking prices for my model year, are still not much below what I paid 5 years ago.

There does seem to be a huge difference in value, between (for example) Jaguar and Aston Martin sports cars, when they are 10 years old. Part of the reason must be the huge difference in the numbers produced.

Edited by Jon39 on Thursday 29th December 21:54

[WEHGuy]

I bought a vantage for £30k and then sold it a year later for £32k. I am hoping to do even better on my F430 but, the car I want(F12) doesn't seem to be moving down much.

[yajeed]

You ran an Aston Martin for nothing; no servicing, tyres, insurance over 12 months?

[Hainey]

yajeed said:

You ran an Aston Martin for nothing; no servicing, tyres, insurance over 12 months?

Maybe he did, but that would be immaterial as that wasn't what he said, was it.

[yajeed]

Hainey said:

Maybe he did, but that would be immaterial as that wasn't what he said, was it.

I could say the same about a 996t. However, that only tells half the story. If we're comparing cost of ownership, then why wouldn't it be relevant? if he'd spend 10k the 2k 'profit' would be less impressive.

[Hainey]

yajeed said:

Hainey said:

Maybe he did, but that would be immaterial as that wasn't what he said, was it.

I could say the same about a 996t. However, that only tells half the story. If we're comparing cost of ownership, then why wouldn't it be relevant? if he'd spend 10k the 2k 'profit' would be less impressive.

I think most of us have at least one in the past garage we could say the same about. Mine was a lot less impressive than a 996t, it was a E46 330Ci. It still wasn't what he said though and I don't think he was trying to impress, simply hoping to be lucky again.

[walm]

yajeed said:

Hainey said:

Maybe he did, but that would be immaterial as that wasn't what he said, was it.

I could say the same about a 996t. However, that only tells half the story. If we're comparing cost of ownership, then why wouldn't it be relevant? if he'd spend 10k the 2k 'profit' would be less impressive.

Not really.
We're talking about financing new cars and that has slipped into a discussion about depreciation and the merits of new vs. old.

Both old and new cars need tax, insurance and tyres.
Although servicing is likely to be cheaper on new cars and the warranty better, the reliability of modern cars is also helping with that, although perhaps not at the 10-yr-old Aston or 10+ 996 level.

Either way, when someone says I sold a car for more than I bought it, they clearly aren't boasting that they drive around without insurance or tyres!!

[Nano2nd]

buy the new 440, i bought a new M4 as the TCO was much lower with discount and better APR that a one year old AUC car done 10k miles, plus its not had someone else's sweaty arse in it and i got exactly the spec i wanted...

WBAC your existing one and if BMW are offering a decent amount over that, chop it in and move on with your life

[williaa68]

Slightly o/t but I just leased a car for the first time in my life. I was going to buy a nearly new Xc90 but the lease cost of the new one, slightly under 11k for two years, was compelling - about 23% over two years. There's not much of a discount on them but even assuming a bit I cannot believe the car will be worth 70% after two years and I have the use of £50k in the meantime. If I can make 4% on that, and I would hope I can, the lease cost is <7k over the period.

I have a 993 which is depreciation free but as a family bus this seems like a good deal. It will replace a V8 cayenne which has been cheap to run apart from its Oliver- Reed esque drinking habits. I reckon the difference in fuel costs is about another 1.5k pa