New Ford or old Honda

Honest John Back Room » Motoring discussion
What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks
View Threaded
Thu 22 Mar 2007 09:11
New Ford or old Honda - Pica
The 3 year contract is shortly coming to an end on my 04 Honda Accord Diesel EX at 28000 miles (I live 3 miles from my ofice so comuting is not an issue) and apart from the tramlining problems (now sorted with Michelin Tyres) the car has been faultless. I want to come out of the company car system and fund the car myself as this will give me more flexibility in the future as to what car I want to drive rather than what is the best for BIK tax.

I have been given the option to buy the Accord at £12600 from the leasing company and as the car has been well looked after and only been driven by me this is tempting. However, I have found I could replace the Honda with a 06/56 plate Ford Mondeo Diesel Titanium (9000 miles) for similar money and this being a very new car benefit from the manufacturers warranty. Alternatively, I could purchase a comprehensive gold warranty from Warrenty Direct for around £320 per year for the Honda which is also quite reasonable.

What do you consider to be the best course of action?
Reply | Report as offensive | Link
Thu 22 Mar 2007 09:16
New Ford or old Honda - local yokel
The biggest cost to your motoring in either event will be depreciation. Which car will be worth more in say three years?

Does your car allowance system permit you to drive any age of car? Many employers require cars to be less than five years old, in which case the Honda would have to go in two years.
Reply | Report as offensive | Link
Thu 22 Mar 2007 09:19
New Ford or old Honda - Pica
The age of the car is not an issue to me and I could drive a 10 year old example if I wished
Reply | Report as offensive | Link
Thu 22 Mar 2007 09:45
New Ford or old Honda - Brian Tryzers
£12,600 seems high to me. If you search Honda's Approved Used database (as I just did, out of curiosity) you'll find several Accords similar to yours at that sort of asking price, even after a dealer has added inspection, preparation and his own margin.

If you can get past that, and if you're happy with the Honda and you know where it's been, go ahead and buy it. I bought my ex-company S60 when I left the job it went with. It was then two years old, about 30,000 miles and I paid about £11,000 compared with its new list of £21,000, which compared very favourably with anything else I might have bought for that much - and was about £3,000 less than a dealer's sticker price for an approved used equivalent. I'm still pleased with the car, so I can recommend this approach - at the right price.
Reply | Report as offensive | Link
Thu 22 Mar 2007 09:52
New Ford or old Honda - Gromit {P}
Seconded: the Accord is a known quantity. Its likely to retain more value than a Mondeo bought for the same money too.
Reply | Report as offensive | Link
Thu 22 Mar 2007 13:13
New Ford or old Honda - Aprilia
Definitely the Honda. But that price is too high. They should be looking at up to £2k below that.
Reply | Report as offensive | Link
Thu 22 Mar 2007 13:35
New Ford or old Honda - Pica
Thanks for all your input it's much appreciated.
Reply | Report as offensive | Link

From which small car to buy at which price point to the best UK-built cars, our Top 10s have the lot. Click now for your shortlist.

Unsure of what to buy? Our Top 10s are here to help you....