Car buying ADVICE - URGENT

[GeorgeWood]

Hi everyone,

Ultimately I know a decision is down to me but I'm seeking some advice, as I believe multiple opinions form a consensus.

I have a reasonable income, just slightly above the national average. I currently own a 09 Fiesta which has had quite a few issues so looking to get rid. I do have expendable income but at the same time I do know money should not be wasted.

My options are:

Option one: 2018 Mercedes a class a200d amg line automatic diesel with only 15k miles for 15k. This would be a 4 year PCP deal at 232/month with about 8,000 to settle at the end.

Second two: Brand new Ford focus 1.0 125bhp st line, my dad works for ford so i'm entitled to the privilege deals and i'm able to get this for 209/month at 3 years with a final payment of around 9k.

Option three: By a newer, but cheaper second hand car.

My main reasons I'm contemplating the a class is Mercedes are generally expensive to repair so I would be slightly worried if anything would go wrong in the future. However the spec of the car is clearly superior over my other options but this option is the most expensive as the interest is not low as fords (0% APR). I think the total price paid between the Focus is about 18.1k vs the Mercedes at around 19.5k. I do think the new fords look nice and it is nice to know the full Hx of the car. You can see the dilemma going on in my head! Any thoughts would be really appreciated.

[Drclarke]

Why is this URGENT?

Are you under pressure to make a decision in the next five minutes?

[GeorgeWood]

Drclarke said:

Why is this URGENT?

Are you under pressure to make a decision in the next five minutes?

I used the same principle as how you interpreted five minutes to be urgent

[E63eeeeee...]

Option 3 for me. If you're buying a meh car, don't spend 19k in the process. Hard to be much more helpful without knowing why you need a car and what you're going to do with it.

[Dave Hedgehog]

Now is not the time to be taking on new debt

[GeorgeWood]

E63eeeeee... said:

Option 3 for me. If you're buying a meh car, don't spend 19k in the process. Hard to be much more helpful without knowing why you need a car and what you're going to do with it.

I do agree it is a lot of money, the car ultimately would be used 3-4 days a week covering around 200 miles / week. It is more for a nice driving experience and generally just to not worry about it breaking down as this seems to be the common trend for me with older cars. I enjoy driving so I don't want to opt for "anything"

[GeorgeWood]

Dave Hedgehog said:

Now is not the time to be taking on new debt

My current car is on the verge of death so I do have to think of a solution pretty fast, I completely get with everything going on it isn't the best decision but my job I believe is secure as it is in the health sector. I've been told that due to economy collapse potentially car prices may rise so thought it would be a good time to bite the bullet?

[E63eeeeee...]

Should also say that for 200 a month you can borrow £6k+, plus twopence for your trade-in. Buy something in that price bracket, particularly now, and it'll be worth £3k in 3 years, more if you buy the right thing.

[E63eeeeee...]

GeorgeWood said:

E63eeeeee... said:

Option 3 for me. If you're buying a meh car, don't spend 19k in the process. Hard to be much more helpful without knowing why you need a car and what you're going to do with it.

I do agree it is a lot of money, the car ultimately would be used 3-4 days a week covering around 200 miles / week. It is more for a nice driving experience and generally just to not worry about it breaking down as this seems to be the common trend for me with older cars. I enjoy driving so I don't want to opt for "anything"

If the main reason I was going to spend lots of money on a car was fear of it breaking I don't think there would be many Fords on my list. That said, cars made this century really don't break down very often, as long as you don't completely neglect them.

[The Mad Monk]

Option 4. Keep the old car.

[stevemcs]

Go with the personal loan, buy

https://www.ebay.co.uk/itm/2017-Kia-Picanto-1-0-65...

and not worry about anything until 2024, you will lose very little money and its cheap as chips to run.See how the next 12 months work out before going down the route of a PCP.

[Osinjak]

Get a shed for £1500 or whatever your wallet can stand, wait for the nonsense to be over and treat yourself to something bit more desirable. Less pressure, easier to view, easier to travel for test drives, etc.

[HustleRussell]

What are the known faults on your Fiesta right now?

[Skellum]

As above. Some good fun cars for shed money,
The PCP on the Merc is nonsense. You won't have 8 grand to pay it off at the end, and will get roped into another deal

[E63eeeeee...]

stevemcs said:

Go with the personal loan, buy

https://www.ebay.co.uk/itm/2017-Kia-Picanto-1-0-65...

and not worry about anything until 2024, you will lose very little money and its cheap as chips to run.See how the next 12 months work out before going down the route of a PCP.

That's a great shout about looking for longer warranties, hadn't thought of that. Other options might be to have a look at the bottom end of approved used schemes - I've had a couple of good cars like that, usually gets you a year's warranty and maybe the option to extend fairly cheap.

[GeorgeWood]

Osinjak said:

Get a shed for £1500 or whatever your wallet can stand, wait for the nonsense to be over and treat yourself to something bit more desirable. Less pressure, easier to view, easier to travel for test drives, etc.

Problem is the fiesta I have is typically in the price range, I'm wanting to move out of this territory a little bit.

[anonymous-user]

Personal loan for a used car every time. Negligible interest, more flexibility with terms and early repayment, and no restrictions on use of vehicle.

[GeorgeWood]

HustleRussell said:

What are the known faults on your Fiesta right now?

Undiagnosed noise from engine bay, also whirring at the wheels so I feel a wheel baring is on the way out. Engine sounds very rough on idle, despite having a full service. Starter motor may be on the way out as well as car doesn't always start easily ( just had a new battery - could be the alternator). My knowledge of cars is a bit limited so hopefully this makes sense.

[GeorgeWood]

stevemcs said:

Go with the personal loan, buy

https://www.ebay.co.uk/itm/2017-Kia-Picanto-1-0-65...

and not worry about anything until 2024, you will lose very little money and its cheap as chips to run.See how the next 12 months work out before going down the route of a PCP.

I agree this is a perfect car for reassurance and good value for money. I want to replicate something like this but slightly bigger and a bit more aesthetic. I am quite a car person so looking for a very reliable car but also fun + good looking.

[cheeky_chops]

GeorgeWood said:

I've been told that due to economy collapse potentially car prices may rise so thought it would be a good time to bite the bullet?

Who told you that - a car salesman??!!

New cars maybe - supply will shrink rapidly with factories shut and manufacturers reducing cost/production numbers drastically when reopening but will be desperate to get cash coming in somehow. Im assuming few buyers so some fantastic deals if you arent fussy.

Similar in the user market - there will be far less people jumping into mid price private or PCP cars, the majority will be trying to reduce monthly out goings, not increase. Simple demand and supply says that prices will be falling.

Personally, i have an audi etron on lease sitting in the Belgium factory - we've already got a cancellation figure.... Not spending £500pm over 3 years when the missus might not be working for months (dentist). I put my nissan leaf up for sale early March in anticipation of my new car arriving, sold it and wont be replaced, we can survive on one car and see how this st storm pans out

Sit tight, you might make money on your Fiesta!