New Car £17K or used/demo for £15k?
Discussion
Given the exact same model & spec, considering both financial and motoring considerations would you rather go for a brand new car or a used one with less than 10K on the clock?
I know I should be considering other cars but that’s a whole other debate (in the end i probably will go for something else/cheaper). I think I can afford £14K,1/2 down and the remainder on 0% cards.
But cheapest used ive seen so far is £15.5K. However new car, same model is £17.5K with typical discounts. Then if you finance with the dealer you get another £1000 off, although the interest cost is around the same figure.
Financially, that extra £2K seems to come at a disproportionally high price, i suppose because it would all go on finance. It’s all going on depreciation, oh, and its actually £3500 above what I said I can afford.
From a motoring point of view what are the real benefits of owing from new, if any? So for the sake of an extra couple of grand would you rather have a new virginal car and why?
I know I should be considering other cars but that’s a whole other debate (in the end i probably will go for something else/cheaper). I think I can afford £14K,1/2 down and the remainder on 0% cards.
But cheapest used ive seen so far is £15.5K. However new car, same model is £17.5K with typical discounts. Then if you finance with the dealer you get another £1000 off, although the interest cost is around the same figure.
Financially, that extra £2K seems to come at a disproportionally high price, i suppose because it would all go on finance. It’s all going on depreciation, oh, and its actually £3500 above what I said I can afford.
From a motoring point of view what are the real benefits of owing from new, if any? So for the sake of an extra couple of grand would you rather have a new virginal car and why?
haynes said:
Given the exact same model & spec, considering both financial and motoring considerations would you rather go for a brand new car or a used one with less than 10K on the clock?
I know I should be considering other cars but that’s a whole other debate (in the end i probably will go for something else/cheaper). I think I can afford £14K,1/2 down and the remainder on 0% cards.
But cheapest used ive seen so far is £15.5K. However new car, same model is £17.5K with typical discounts. Then if you finance with the dealer you get another £1000 off, although the interest cost is around the same figure.
Financially, that extra £2K seems to come at a disproportionally high price, i suppose because it would all go on finance. It’s all going on depreciation, oh, and its actually £3500 above what I said I can afford.
From a motoring point of view what are the real benefits of owing from new, if any? So for the sake of an extra couple of grand would you rather have a new virginal car and why?
How old is the used one? I know I should be considering other cars but that’s a whole other debate (in the end i probably will go for something else/cheaper). I think I can afford £14K,1/2 down and the remainder on 0% cards.
But cheapest used ive seen so far is £15.5K. However new car, same model is £17.5K with typical discounts. Then if you finance with the dealer you get another £1000 off, although the interest cost is around the same figure.
Financially, that extra £2K seems to come at a disproportionally high price, i suppose because it would all go on finance. It’s all going on depreciation, oh, and its actually £3500 above what I said I can afford.
From a motoring point of view what are the real benefits of owing from new, if any? So for the sake of an extra couple of grand would you rather have a new virginal car and why?
How long to you intend to keep it for?
The ex-demo/ex-courtesy one is only 12.5% cheaper than a new one, and it's already got 10,000 thrashed-from-cold miles on it!
I'd either go for the new one, or get a proper price on another 10,000 mile model (dealer & private), as I'd expect a year old model with 10,000 miles on it to be closer to 30% off the new price (unless it's something where very low depreciation is expected due to rarity/demand).
I'd either go for the new one, or get a proper price on another 10,000 mile model (dealer & private), as I'd expect a year old model with 10,000 miles on it to be closer to 30% off the new price (unless it's something where very low depreciation is expected due to rarity/demand).
frosted said:
I would buy the new car, you would get some of the money back at resale anyway
Thats something that people often forget or ignore.I've seen plenty of people pay more overall for nearly new rather than new, especially if they don't check out what discount is available on a new one.
If it has anywhere near to 10k on it I'd be wanting more than 2k off compared to a new price. When we bought my wifes 147 9 years ago we got a 6month car with 6k on it for 5k less than the haggled price of a new one. Considering the new car you can spec as you want and will have the full warranty etc for the difference I'd go for new in this case.
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