Road rules1 min ago
Would You Buy A New Car?
32 Answers
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Interesting article but surely the best way to avoid depreciation is to not buy one in the first place. I have a mate who, against my advice, spent 40k on a new car, because "it needs to be reliable" - The garage has had it more than him and he's gutted. The sad thing is that new or old they can go wrong, many think new = good. My car cost 90k when new, I bought it 8 years old for less than a tenth of that.
Interesting article but surely the best way to avoid depreciation is to not buy one in the first place. I have a mate who, against my advice, spent 40k on a new car, because "it needs to be reliable" - The garage has had it more than him and he's gutted. The sad thing is that new or old they can go wrong, many think new = good. My car cost 90k when new, I bought it 8 years old for less than a tenth of that.
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@Dodger666
//It's not just manufacturer's profit margin Hypo, all the VAT is wiped off the new price too as soon as it driven out the dealers.. //
Good point. There used to be Car Tax to pay, too. I can't remember when that was scrapped but I reckon the 'meme' about losing money as soon as you drive off the forecourt probably harks back to those times.
As for Voluntary Additional Tax payers? Gotta love 'em. I think they keep the country afloat.
:-P
@chrissa1
Good point about bigger margins on the used cars. I imagine the priciest of them are obtained via trade-in deals on the new models. Only those who have done that and then kept watch on the garage to see what their old model eventually sells for can really comment on that. I wonder how many are embarassed to such a level that they'd rather keep their lips sealed?
//It's not just manufacturer's profit margin Hypo, all the VAT is wiped off the new price too as soon as it driven out the dealers.. //
Good point. There used to be Car Tax to pay, too. I can't remember when that was scrapped but I reckon the 'meme' about losing money as soon as you drive off the forecourt probably harks back to those times.
As for Voluntary Additional Tax payers? Gotta love 'em. I think they keep the country afloat.
:-P
@chrissa1
Good point about bigger margins on the used cars. I imagine the priciest of them are obtained via trade-in deals on the new models. Only those who have done that and then kept watch on the garage to see what their old model eventually sells for can really comment on that. I wonder how many are embarassed to such a level that they'd rather keep their lips sealed?
