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Author Topic: The Economics of a new car  (Read 17153 times)

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78bex

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Re: The Economics of a new car
« Reply #30 on: 17 July 2015, 23:40:53 »

A new small car would not impress swmbo, she only want's an Omega or a Mitsubishi Gallant V6...............she's quite cheap, doesn't even drink much when we go out..... :y :y

Tried her with a Mazda6 she would not even go and look at it..... ::) ::)

New mini..... as in bloated german sausage :-X, agree there I don`t like it either.
anything with a chrome door mirror,  apparently will turn a womens head. :-\
" oh I do like that car"; what- where, colour or make women, "oh look at that those bling door mirrors"
I never did catch sight of that car, what has chrome door mirrors anyway ???
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X30XE

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Re: The Economics of a new car
« Reply #31 on: 18 July 2015, 01:02:05 »

If nobody bought/leased a new car every x years, there'd be no 2nd hand cars  ;)

Ex-bloody-actly.  ::)
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henryd

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Re: The Economics of a new car
« Reply #32 on: 18 July 2015, 09:42:37 »

If nobody bought/leased a new car every x years, there'd be no 2nd hand cars  ;)

Where do you reckon all the lease/finance deal cars end up after 3 years ::)
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chrisgixer

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Re: The Economics of a new car
« Reply #33 on: 18 July 2015, 09:59:24 »

If nobody bought/leased a new car every x years, there'd be no 2nd hand cars  ;)

Where do you reckon all the lease/finance deal cars end up after 3 years ::)

A good few at DK motors ;D


One in particular was a Blue 2.5 cdx omega. ;D ;D :y

Edit to add, it even had LexVehichle leasing on the mats. :)
« Last Edit: 18 July 2015, 10:01:40 by chrisgixer »
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Andy B

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Re: The Economics of a new car
« Reply #34 on: 18 July 2015, 10:45:46 »

If nobody bought/leased a new car every x years, there'd be no 2nd hand cars  ;)

Where do you reckon all the lease/finance deal cars end up after 3 years ::)

At auction or a used car dealer for me to buy second hand after someone else has taken the hit on depreciation  :y
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Lazydocker

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Re: The Economics of a new car
« Reply #35 on: 18 July 2015, 11:15:44 »

There's always a deal to be had on new vehicles which can make it more viable, if that's your thing. I buy all of my vans new because of the heavy usage they get. Last one, an Auto Expert, I got roughly £9k (about 30%) off list price, meaning the initial depreciation hit has already happened before I bought it brand new  ;)

I've actually just done a deal for a very close friend of my mum (who is giving her his old car when the new one arrives) on a Peugeot 2008. Got him about £5k off (or nearly 25%) so, again, the initial hit is minimal. Now this is someone who can't do any DIY and only really understands where to put the fuel! So he's got a brand new car that he really wants and will keep 10 years or so, at a price he is happy with. The only condition is that it has to be registered to me first because it is on a business discount  ;)

SWMBO had a brand new Panda in 2009... Again, I got sufficient discount that the first year hit was minimal.

Deals are there to be had, if you are willing to go and get them.

That said, I wouldn't buy a brand new car for myself because of my requirements of big, luxurious car. Unless, of course, I won the lottery... Then I might consider it! ;D
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chrisgixer

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Re: The Economics of a new car
« Reply #36 on: 18 July 2015, 12:07:19 »

Oooh yes lottery win, straight down to Belingers for a Fast black gts sport wagon thankyouverymuchyesindeedthankyoukindly :y ;D
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D

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Re: The Economics of a new car
« Reply #37 on: 18 July 2015, 19:06:16 »

Ok, since you are asking. My friend claims mileage on his work related trips. Contract dictates car must be less than 5 years old. So any Omega is out of the question.

So he decides to buy above car as per above plan. That works out to a cost of £5.46 per day over the first 4 years. No MOTs to worry about. Breakdown cover included for the first 12 months inc european recovery. Reasonably spacious hatch, smells nice as opposed to a 12 years old banger Omega like mine. Doesnt drip oil or leak from the sunroof like mine. Doesnt need to spend hours on an internet forum looking for help to sort out a variety of problems. In return he gets 50ppm as business mileage.

Could you suggest an alternative? That isnt more than 3 years old (otherwise he would have to change his car in 2 years time). Could he rent a car for £5.46 a day? He could perhaps lease but I dont think he would save much if any at all.

Some things work for some people. Just because you prefer to curtail your expenditure on your car does not mean every one has to follow the same path in life. People can choose what they want to buy and at what price. Not everyone wants to have an unreliable 12 year old banger and get their hands dirty every weekend.

My best mate has just purchased a 911 GT3 RS. No finance involved. But he is happy with the car/price/maintenance costs etc. Just because I cannot afford the same car does not make his purchase wrong in any way or form.

Of course not. If somebody wants a Porsche gt3 then bloody go for it I say. But, I'd also still say, don't buy new. As said by the guys previously, "unless it's a business decision" type of thing. :)

Arguably given our roads he'd still be better off with an omega for example, but if you have the passion for a car and the cash, damn right. :y

I disagree. Why should you not buy new if you can get a good deal (as per LD's post above, there are deals to be had), can afford it and want the luxury of a new car?

Do you buy second hand gifts for your family for Christmas? What about left overs from your local chippie for breakfast? Second hand pacifier for your baby? Or even used undergarments and shoes off ebay (they are there if you look)?

People have different priorities and disposable incomes. So just because the OP likes running a 10+ year old car, driving extremely slowly to save fuel and getting his hands dirty on the weekend does not mean the rest of the world has to follow suit. In fact be thankful that some people do spend money on new cars that enables you to pick up a used bargain 10 years down the line.
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tunnie

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Re: The Economics of a new car
« Reply #38 on: 18 July 2015, 19:15:16 »

I've got several speeding tickets to my name   :y

Should also add, in last 12 months all I have done is pop some new spark plugs, air filter and pollen filter in the 2.2 and the 3.2 has had an oil change. That is all. Not exactly much!

DIY is a big benefit though, if I had to garage service the Omega's they would have gone long ago

I think a basic bank loan is best way for a new car, personally I would never, ever touch car credit.

I'd never buy new either, 18 months old is about the best age. But luxo barges, makes sense for a 5+ years old.



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Andy H

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Re: The Economics of a new car
« Reply #39 on: 18 July 2015, 19:41:53 »

I've got several speeding tickets to my name   :y

Should also add, in last 12 months all I have done is pop some new spark plugs, air filter and pollen filter in the 2.2 and the 3.2 has had an oil change. That is all. Not exactly much!

DIY is a big benefit though, if I had to garage service the Omega's they would have gone long ago

I think a basic bank loan is best way for a new car, personally I would never, ever touch car credit.

I'd never buy new either, 18 months old is about the best age. But luxo barges, makes sense for a 5+ years old.
How on earth did someone with your reputation for travelling slowly manage to rack up multiple speeding tickets? :-\

And why the thumbs up?  :-\

The three key attributes that will keep you safe on the road are observation, observation & observation. If you travel slowly but still get speeding tickets I worry for you and your fellow road users :(
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tunnie

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Re: The Economics of a new car
« Reply #40 on: 18 July 2015, 20:33:10 »

Nothing handles like a hire car in another country  :D

Got done in Slovenia  :(

Also got done for 50 in a 30 zone, managed to get a course  :o

So don't believe all you read here, on how heavy my right foot is!
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chrisgixer

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Re: The Economics of a new car
« Reply #41 on: 18 July 2015, 21:14:38 »

Ok, since you are asking. My friend claims mileage on his work related trips. Contract dictates car must be less than 5 years old. So any Omega is out of the question.

So he decides to buy above car as per above plan. That works out to a cost of £5.46 per day over the first 4 years. No MOTs to worry about. Breakdown cover included for the first 12 months inc european recovery. Reasonably spacious hatch, smells nice as opposed to a 12 years old banger Omega like mine. Doesnt drip oil or leak from the sunroof like mine. Doesnt need to spend hours on an internet forum looking for help to sort out a variety of problems. In return he gets 50ppm as business mileage.

Could you suggest an alternative? That isnt more than 3 years old (otherwise he would have to change his car in 2 years time). Could he rent a car for £5.46 a day? He could perhaps lease but I dont think he would save much if any at all.

Some things work for some people. Just because you prefer to curtail your expenditure on your car does not mean every one has to follow the same path in life. People can choose what they want to buy and at what price. Not everyone wants to have an unreliable 12 year old banger and get their hands dirty every weekend.

My best mate has just purchased a 911 GT3 RS. No finance involved. But he is happy with the car/price/maintenance costs etc. Just because I cannot afford the same car does not make his purchase wrong in any way or form.

Of course not. If somebody wants a Porsche gt3 then bloody go for it I say. But, I'd also still say, don't buy new. As said by the guys previously, "unless it's a business decision" type of thing. :)

Arguably given our roads he'd still be better off with an omega for example, but if you have the passion for a car and the cash, damn right. :y

I disagree. Why should you not buy new if you can get a good deal (as per LD's post above, there are deals to be had), can afford it and want the luxury of a new car?

Do you buy second hand gifts for your family for Christmas? What about left overs from your local chippie for breakfast? Second hand pacifier for your baby? Or even used undergarments and shoes off ebay (they are there if you look)?

People have different priorities and disposable incomes. So just because the OP likes running a 10+ year old car, driving extremely slowly to save fuel and getting his hands dirty on the weekend does not mean the rest of the world has to follow suit. In fact be thankful that some people do spend money on new cars that enables you to pick up a used bargain 10 years down the line.

...disagree with reality. Fire away. Off to the Bmw dealers with you, and their BMW economics designed for the unwary with more money than sense. I'm just the stupid kid from the local comprehensive that spent more time over the fields on his bike than he did in class. And even I know you'll be fishing money up the wall. ;D there is NO Escaping that fact.

If you can afford to do so, fire away. But then wtf are you doing hanging round here? Off to Bmw land or whatever their forums called.

I presume your education is good enough to fathom the indicators btw? Hmm? ;D
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D

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Re: The Economics of a new car
« Reply #42 on: 19 July 2015, 15:04:46 »

Your post just repeats the point I am trying to make. A person makes money to enjoy the niceties of life. If someone can afford to buy a new BMW then that doesnt make them stupid or abnormal. It just means that they have a disposable income that allows them to make a purchase without having to worry about it. NOT "more money than sense" as you state; simply more money than you can afford to spend/want to spend!

I presume you go on holidays? Isnt that wasting money? I mean why go on holiday when you could save money and sit at home?

Or why waste money buying prezzies at Christmas? Save that too. Only a fool would waste money on gifts that are going to be thrown away within a few months? Correct?

Statements like "I'm just the stupid kid from the local comprehensive" dont really help. What are you trying to prove? That you havent got a good education? Or a good job? Or a good lifestyle? I would think not. So keep it sensible. My mate who bought the 911 was also state educated and earns £175k per year, he is only 37. Why should he not buy a new BMW with that sort of a salary?

As to what I am doing hanging round here; I didnt realise there was a financial barrier to being a forum member. Could you clarify where that is in the forum rules?

In response to Tunnie, the best bank loan rates are 6.5 - 7.9% APR. Your example is 7.4% APR? So not that bad really. And you have the advantage that if your circumstances were to change, you can simply hand the car back and not worry about the last 5k. Remember a recent discussion by a member with a car with outstanding finance?

Also if you have a problem with the car and say you get to the point of having to reject it or you are having issues getting the dealer to sort out a problem with the car; then having the car on finance is very helpful as you can put the onus on the finance company to pressurise the dealer to sort out your problems. Friend of ours had a Golf R on finance with significant paint issues. The dealership was not helpful and it was the finance company that helped sort it out in the end (remember they own the car till you pay it all off, so have a vested interest in sorting out any issues with it).

It is similar to credit card purchases. I put everything through my credit card (greater than £100) as then I get protection via my credit card (Section 75 of the Consumer Credit Act). This may be the deposit on a new or used car. As long as it is over £100.
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chrisgixer

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Re: The Economics of a new car
« Reply #43 on: 19 July 2015, 16:35:53 »

D. Are you suffering from depression?


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D

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Re: The Economics of a new car
« Reply #44 on: 19 July 2015, 16:47:12 »

D. Are you suffering from depression?

Do you really think that is funny? Sometimes I do not understand you. Why do you need to ridicule everything including a mental health condition?
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