Paid 10k cash for a 3 year old car in 2011. Has been very reliable since. No issues that would have justified spending 30k on a new car at the time.My initial query about how you, as in other posters, finance their cars has been derailed. Partly by me and partly by others.
Someone who has to finance a luxury item that is a depreciating asset.
Even I had 50 k in cash to buy a new suv, I'd choose the sub 3% pcp option, having cash is a very important security blanket
How people consider a new car to be a necessity is a bit crazy to me.
Affordability doesn't appear to be an issue to the lenders so I have set my own parameters which I am sure others will disagree with.
Perhaps my view is coming across as self righteous and this really wasn't my intension. I have also found myself in the middle of a PCP dispute...an area I have very little knowledge of.
My initial query about how you, as in other posters, finance their cars has been derailed. Partly by me and partly by others.
Would you opt for a €50k car in this instance? Would it not be a better idea to get one for say €20k and save a few 1,000 a year in depreciation?
It would be mid range diesel with high mileage and a few small marks on it that comes in to a large dealership, i am not fussy about colour or a few small marks because they will plenty more by time herself is finished with it.This is interesting. What type of 2 year old car would you expect to get for €200 p/m over 5 years? Does that include any sort of servicing or warranty?
Cheers
It comes across as puritanical, almost every car ever bought depreciated in value, no reason not to buy new and if everyone saw buying new as rank indulgence, cars would soon be like the dodo
I've done the new cars for years always with cash, I'm semi retired a few years now and in January 2013 bought a low mileage 2010 Mercedes e250cdi for 24k cash, it's worth around €12k now, my thinking is not exactly how you finance it, buy well, maintain well and judge your costs through depreciation, in my case around €2500 a year, it has 113k Kms, looks and performs great ( unlike myself ) and has loads of life left.
Bangernomics...
It would be mid range diesel with high mileage and a few small marks on it that comes in to a large dealership, i am not fussy about colour or a few small marks because they will plenty more by time herself is finished with it.
I've done the new cars for years always with cash, I'm semi retired a few years now and in January 2013 bought a low mileage 2010 Mercedes e250cdi for 24k cash, it's worth around €12k now, my thinking is not exactly how you finance it, buy well, maintain well and judge your costs through depreciation, in my case around €2500 a year, it has 113k Kms, looks and performs great ( unlike myself ) and has loads of life left.
Bangernomics...
I’m more asking why buy a €50k car instead of a €20k one when you only have €50k cash that you don’t wish to part with?
Would the car not cost you the guts of €1,000 a month in depreciation in the 1st year? With the cheaper car it would be considerably lessYou don't part with 50k upfront
Would the car not cost you the guts of €1,000 a month in depreciation in the 1st year? With the cheaper car it would be considerably less
Importing a car from the UK is time and hassle though and understandably not everyone is interested.
I went up North...drove up in the old car & drove back down in the "new" car. The garage had all the paperwork ready and everything organised for my VRT. Very seamless transaction.
The stinger re buying in Northern Ireland is the book value is higher down here and the VRT can be even higher than you first imagine, thinking of buying a two year old jeep grand cherokee towards the end of this year in the North and the VRT is nearly the price of the jeep itself due to book value in the south and emissions
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