When did new cars become so expensive?

[grumbledoak]

There are decent reasons to buy new. I've done it twice.

First time was because my job involved working quite a way from home, so it was 50% cash and 50% bank loan. Yes it was an MX-5, but I didn't want to hate the journey.

Second time was so I could spec. her myself.

[Efbe]

Oy you lot. stop rocking the boat!!!

Though all this finance may increase new car prices, is massively undervalues used cars meaning I can pick up some very nice motors for extremely cheap.

Let these idiots carry on paying inordinate sums on finance on boggo spec econoboxes and leave the deals to me.

---

[louiebaby]

New cars are expensive, and they seem to have accelerated in the last few years. The finance deals that are available seem to have a deposit, a monthly fee and a balloon / hand-back at the end.

This is really not that different from a lease, 3 months up, 35 months at xxx and then hand the car back. You can often get more car on a lease deal than through the dealers, if you're going down that route.

I'm glad people do use these systems, as it means there are used cars for those less fortunate / more sensible to use. We need them, they need us.

I would buy new on a "special" car, so I could spec it myself and keep it forever. I'd love a Morgan in a few years. New. Owned outright. But I wouldn't buy a family wagon new when it can be got for half the price after 3 years.

[thecremeegg]

[900T-R]

Can't decide whether the salesperson involved must have been devoid of any sense of irony, or has rather too much for their own good...

[Miocene]

Haha! The fact it states 'Affordable' under the price just adds to it!

Edit: Oh my... just got a GTD Golf up £38,285 with everything (aware there's a thread for configurators...)

Edited by Miocene on Tuesday 7th June 13:01

[mat205125]

Gwagon111 said:

Most people I know who buy new cars, do it on finance. Most of those deals are Ponzi car purchase schemes, where they pay a crippling balloon payment, after a certain time, or hand the car back, or get a guaranteed final value to enable them to start the cycle again with a newer version of what they have. In short, most of them never actually own the car outright.

This!

The majority of "owners" of these cars effectively just rent them.

[jdw1234]

thecremeegg said:

I sold my Ferrari F355 Spider for less!!!!

[hotrod scott]

TUS 373 said:

Glad its not just me then!

I don't get the maths either. Pay £50K for a car, finance it on £700 month for 4 years and pay a load additional either upfront or at the end, lose 50% on it, and pay 6% interest for the privilege. Someone, somewhere, is laughing all the way to the bank. With the housing market as it is, you would think being would be ploughing money into buying cheap properties. That has to be a better prospect than a new car.

Could you tell me they all are?

[the-photographer]

Deva Link said:

entwisi said:

SWMBO is about to get a new Co car

astra eco flex jobbie, list price > 23K and thats without any extras added although it is a decent "spec" to start with but certainly nothing extra special. I know if it was my 23K I certainly wouldn't be buying a diesel eco hatchback.

This is where list pricing is still bonkers on the "volume" models - you can get a new Astra for £12K. I bought a new Golf for my daughter for £13K recently. For company car drivers it's stupid to have high list prices as it bumps up the tax.

I'd be interested to know which Astra model is £23K though - I thought they maxed out at around £19K?

http://www.vauxhall.co.uk/vehicles/vauxhall-range/...


From £14,000 to £21,000 + options

Or Golf

http://www.autobytel.co.uk/NewCars/Search/Volkswag...

From £15,500 to £32,000 + options

Edited by the-photographer on Tuesday 7th June 13:13

[stuckmojo]

mikele pirelli said:

Where are these £20k flats in Glasgow ? I've not seen them...
If you can find a £ 20k flat anywhere in the city it'll be a bombsite I'd
suggest.

Houses are falling in value faster than used cars are, and will be for some time, until people can afford to actually buy them again without lying on their mortgage application.

AS for cheap flats, good luck with the sort of tenants you'd be getting.

[entwisi]

Deva Link said:

This is where list pricing is still bonkers on the "volume" models - you can get a new Astra for £12K. I bought a new Golf for my daughter for £13K recently. For company car drivers it's stupid to have high list prices as it bumps up the tax.

I'd be interested to know which Astra model is £23K though - I thought they maxed out at around £19K?

She can't choose anything other than either saloon or estate and what colour, even engine choice is locked out. She's driven an auto for all but 6 months since she passed her test and they are making her get a manual as the only Auto is > 25K and has crap CO2 so sits in the silly high tax bracket.



Elite £24,160.00
2.0CDTi 16v S/S, Manual 6-speed
Silky Shadow £495.00


Final RRP (incl. VAT) £24,655.00
Final Vauxhall Internet Price (VIP) £21,735.00

Edited by entwisi on Tuesday 7th June 13:17

[BoRED S2upid]

How many people have these on finance? Paying several hundred a month to dealers with Ballon payments and the likes in several years time probably never paying the £40k asking price more like a rental agreement. I doubt many are buying them with £40k cash.

[HellDiver]

Deva Link said:

I'd be interested to know which Astra model is £23K though - I thought they maxed out at around £19K?

http://www.vauxhall.co.uk/vehicles/vauxhall-range/cars/astra-sport-hatch/index.html

They START at £19k for the Mk5 Sporthatch. That's the previous model.

The current model is £19k for a 1.6 SRI. That's the 115hp 5 door. The 2 litre diesel top-spec Elite is £25k before options.

I think you need to have a look at car prices, you're quite out of touch.

[900T-R]

The Crack Fox said:

More than I paid for my first house, which appreciated like crazy, unlike that Golf will.

OTOH I've got more equity in my TVR than in my new build apartment which I bought in 2004. Neither of the two likely to appreciate erm, appreciately any time soon, either...

[Deva Link]

HellDiver said:

I think you need to have a look at car prices, you're quite out of touch.

I wouldn't have said so. I've bought 2 new cars recently, including a new Golf 5dr in metallic for £13K a couple of months ago.

Through a couple of routes I could have got an Astra for even less.

I always used to pick the top-of-the-range mass market cars as company cars as the toys were nice. But company car tax wasn't a huge issue then. Driving an Astra which is taxed as if it cost £25K must be pretty close to the height of insanity.

[Deva Link]

stuckmojo said:

mikele pirelli said:

Where are these £20k flats in Glasgow ? I've not seen them...
If you can find a £ 20k flat anywhere in the city it'll be a bombsite I'd
suggest.

Houses are falling in value faster than used cars are, and will be for some time, until people can afford to actually buy them again without lying on their mortgage application.

AS for cheap flats, good luck with the sort of tenants you'd be getting.

Today:

groak said:

Groakwatch: Offer accepted on 2-bed ex LA 'development opp.' in Sunny Easterhouse (aka The Oxshott of the North). £17k. Good for £475pcm. Lahvly Jahbly!!

[chriscoates]

HellDiver said:

Deva Link said:

I'd be interested to know which Astra model is £23K though - I thought they maxed out at around £19K?

http://www.vauxhall.co.uk/vehicles/vauxhall-range/cars/astra-sport-hatch/index.html

They START at £19k for the Mk5 Sporthatch. That's the previous model.

The current model is £19k for a 1.6 SRI. That's the 115hp 5 door. The 2 litre diesel top-spec Elite is £25k before options.

I think you need to have a look at car prices, you're quite out of touch.

I cannot believe those prices. I have just specced a 1.6 SRI at £26k, that's because of some of the frankly disgraceful equipment that isn't standard. £170 for electric rear windows FFS! At least the two-tone horn comes as standard

[The Wookie]

Rick_1138 said:

I looked at a mini cooper S, test drove it, was impressed, but even with just slightly bigger alloys, leather seats and nowt else, they want £340 a month for 4 years!!

Out of interest, did you try any haggling on the finance? The gf bought a new Cooper D Cabrio just before Christmas and they came in with a 14.9% APR finance deal, full settlement with no balloon payment at the end. I nearly choked on my coffee and told them we'd found a 7.5% deal on the interweb. Literally 10 keystrokes later and it was suddenly 7.4%... Knocked a significant chunk off the monthly payments with no haggling at all.

Actually, it does highlight the fact that they were very keen to sell us a car and easy to chip on price for various aspects. They came in offering us a part-ex value a couple of hundred quid above what we'd expected to sell the old one for and they put another 500 quid on top with minimal haggling, and they lobbed in about 650 quid's worth of extras that we probably would have paid for anyway.

We got a pretty good deal with a bit of knowledge and almost no effort, but once we'd dismissed the parting shot money makers like 'paint treatment' and tyre insurance at 500 quid a go, the whole thing did make me realise how many people must get absolutely mugged when they walk into these dealers on the basis of deferred cost with finance deals. After all 'it's only another 20 pounds a month to have sat nav'

[Deva Link]

mikele pirelli said:

Easterhouse ! ? do you know what Easterhouse is like ! I reiterate:
you've more chance of winning tonight's Euromillions than letting out
a flat here. At least to anyone who would actually pay the rent

Normally the State pays the rent, so no issues there.

If you followed Groak's postings he does pretty well out of it with a business model which suits the environment he operates in. He has a well established business and has been doing it for many years.