New Ford or old Honda

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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?
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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.
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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
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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.
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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.
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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.
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Thu 22 Mar 2007 13:35
New Ford or old Honda - Pica
Thanks for all your input it's much appreciated.
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