From a few other posts I have noticed (and Im sure everyone else has!) the enormous depreciation on my ZM lately and with the 'Credit Crunch' a lot of other cars are taking a eating too. I was just wondering what everyone is thinking with regards buying in the future. Will this affect your choice and make you go for 2nd had rather than new? Think Ill def start going for nearly new examples, there are real bargains staring to pop up everywhere!!
New/Used
- Thread starter Jas667
- Start date
New has never been a great idea, but even more so now. I honestly think that new prices need to come down a bit, or manufacturers have to realise that the sales figures they've built up to over the last few years can't be sustained, unless they register the cars themselves first (which TBH most of them do by the thousand now anyway).
IMHO the right time is 3 months old, when the majority of demo cars are coming off. Someone posted before about BMW stretching out their demo cars until 6 months, but I've still seen loads going out after 3 months.
Nice Dec07 M3 for £40k :sweetheart:
IMHO the right time is 3 months old, when the majority of demo cars are coming off. Someone posted before about BMW stretching out their demo cars until 6 months, but I've still seen loads going out after 3 months.
Nice Dec07 M3 for £40k :sweetheart:
buying new is always going to lose you money. Even more so now than before.
Ive bought 3 new cars and our current 2 were 2-3 years old and have had far less faults/problems than the 3 new ones.... So for me I doubt if we would ever get a new one again. Would do nearly new though - was tempted the other week by a June 08 dealer demo Suziki Swift Sport with 2k off the list price - delivery miles only!
Ive bought 3 new cars and our current 2 were 2-3 years old and have had far less faults/problems than the 3 new ones.... So for me I doubt if we would ever get a new one again. Would do nearly new though - was tempted the other week by a June 08 dealer demo Suziki Swift Sport with 2k off the list price - delivery miles only!
In the UK, you lose 17.5% ( ie, the VAT) as soon as drive off the dealers premises. Buy new if you are going to keep it for a long time,used if you like to change more often. I bought used as my Z4 was about 40% of it's original purchase price.I couldn't justify he cost of buying any newer as it is only used as my evening/weekend plaything.But, I intend keeping it for a very long time. I've bought quality, so I'm happy driving what will be soon be a 5 year old car.
I'm done with 'new' Gone are the days of short warranty, cars rusting away or failing after 3 to 5 years and all that stuff we used to suffer. I reckon buy something top end, fully loaded at a year old and keep it for a few years.
I read a couple of months back a feature that showed a 3 year old 3.0i Z4 is the about same price to run for 3 years as a brand new Ford Focus when you take in all costs of depreciation, fuel, tax, etc.
There seems to me likely to be a change of business model in the car industry as people wise up, company cars in the UK are less dominant, cars more relaible and the current credit crunch will just accelerate this change.
Of course there are a few more odd years to come until the overproduction is sorted out by mergers or failures of the weak.
I read a couple of months back a feature that showed a 3 year old 3.0i Z4 is the about same price to run for 3 years as a brand new Ford Focus when you take in all costs of depreciation, fuel, tax, etc.
There seems to me likely to be a change of business model in the car industry as people wise up, company cars in the UK are less dominant, cars more relaible and the current credit crunch will just accelerate this change.
Of course there are a few more odd years to come until the overproduction is sorted out by mergers or failures of the weak.
Given the fuel tax situation in the UK the loss in value of performance motors is bound to be more of an issue for us UK guys as opposed to our american cousins. I know the dealer told me when I purchased my 2.0i in July that the value of it was likely to stay flat and possibly increase given the average 38.7mpg.
I also have an 8 year old porsche, I was thinking of selling this and upgrading, however, as I only bought this 12 months ago the loss was huge, nearly 40%. There is nothing wrong with the car and I cant justify this loss, so its staying lol!!!
I also have an 8 year old porsche, I was thinking of selling this and upgrading, however, as I only bought this 12 months ago the loss was huge, nearly 40%. There is nothing wrong with the car and I cant justify this loss, so its staying lol!!!
IMO... The credit crunch has little to do with any of this.
It's more likely to be the change in tax laws, ever increasing petrol prices and the looming release of a new Z4..
The Z4M road tax will move to £440 road tax per year next year
The £1000 'showroom' tax in year 1 can only hurt dealers more who may drop new prices to continue to shift tin.. ultimatley dropping the used market further.
This is the exact reason the backside has fallen out of the 4x4 market.
I only ever bought new once and that was due to the discount I got through work.. I'll never do it again!
The pride of driving and owning a spanking new car lasted all of the 40 minute drive home and as all have said.. your money goes so much further nearly new.
It's more likely to be the change in tax laws, ever increasing petrol prices and the looming release of a new Z4..
The Z4M road tax will move to £440 road tax per year next year
The £1000 'showroom' tax in year 1 can only hurt dealers more who may drop new prices to continue to shift tin.. ultimatley dropping the used market further.
This is the exact reason the backside has fallen out of the 4x4 market.
I only ever bought new once and that was due to the discount I got through work.. I'll never do it again!
The pride of driving and owning a spanking new car lasted all of the 40 minute drive home and as all have said.. your money goes so much further nearly new.
Street said:
Very true mate, did you see the new TESLA roadster on fifth gear the other night, very cool!!! 0-60 in under 5 secs and 128mpg (equivalent) the way of the future! We will all have straight six soundtracks on our IPODS as we drive our sexy milk floats to work in 10 years lol!!