...according to Monday's Telegraph (RAC report): tinyurl.com/lxf9
John
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Probably about right (if you insist on a buying new car that is in oversupply in the market) If new cars were fitted to a depreci-ometer (linked to one of the guides on the Internet), some manufacturers would dissappear in months.
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According to the Main Dealer my car depreciates £300 per month with 3k going on the clock, good, soon it will be worth nothing and i'll drive it for another 2 years.
Where do they get these figures from? I could prove they cost £500/wk, its statistical rubbish! all this depends on your personal circumstances, and how good you are at getting a deal.
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Buying a new car is never a sound economic proposition and never has been. New cars are there for those that want them and there is nothing wrong in that. I would dearly love to have enough money to 'waste' on a new car but I don't but if others didn't there wouldn't be any second hand cars for us cheapskates ;-) All other goods depreciate, electronic goods depreciate even faster. Today's state of the art pc is tomorrow's door stop. You have to compare the cost of ownership with the utility you have from owning a new car. Aslong as you feel you have your money's worth it shouldn't matter what the percentages are.
teabelly
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I dont think its a case of 'affording' a new car at all. I personally cannot think of a situation where I'd ever buy a new car.
You could buy a new Fiat Sciento, or you could just buy a nearly new Focus instead.
You could buy a new Focus, or you could just buy a nearly new Mondeo instead.
You could buy a new Mondeo, or you could just buy a nearly new Audi instead.
Etc etc. There is always something better, but nearly new, you could buy instead unless you've just popped off to put the deposit down on that new Koenegigsegg ;)
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I bought a new Ibiza Cupra in May 2001. I\'ve just traded in for a new Leon Cupra (both using my own hard-earned). The Ibiza cost me about £160 per month on depreciation (not that bad actually). I just like (new) cars. I like to save money, but I don\'t mind spending it for something I feel I will enjoy (ie good food, proper airlines and not budget ones, real beer and nice wine). Undoubtedly some (many?) will think I\'m a complete idiot. There you go!
Ah, the men in white coats are here now... ;-)
--
Dr Alex Mears
Seat Leon Cupra
If you are in a hole stop digging...unless
you are a miner.
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