OK, you may think it's simple, cars lose value since they are useless after 3 years (some people think that).

I sat in a car park yesterday next to a Corsa, it was so basic inside and it was a 12v 1.0, so 3 cylinder, so pretty **** to be honest. What is it worth? 3 years or so old, so 3k?

I sat in my 1998 car, knowing I could probably get £1500 for it yet it does everything better than that car, except MPG, but even if I had a similar 1.0 1998 corsa, it would be worth so much less.

I think the UK is the only country that I know of where second hand car prices are crazy, go to the continent and try to buy a '96 Cinq sporting for less than about £1500, I doubt you would stand a chance. I know from Mort that a Uno is still worth proper money (i think it was Mort) in his country.

People seem to only ever want new, even if it means getting less of a car, what is the obsession with that? It's not a "British thing", it's something we have learnt in the last 10 or so years. I remember when we were looking for our first scenic, so about 5-6 years ago, the local second hand car dealership was nearly going out of business since second hand car prices had plumetted (I am sure Dave can suggest whether this is true). He only saved himself by stocking a lot of diesels, vans, MPVs and 4x4s, all selling strong at the time.

20 years ago I could understand it, since cars did lose their use pretty quickly, they rusted and engines lasted little more than a 100k, now cars can easily do 200k and go as well as others on the road for 10 years. A cinq sporting for example is only dated since we're made to feel it's 'dated', it can still keep up with all similar cars coming out, it is well spec'ed compared to new cars etc.

Is it disposible income gains? Safety? Security? A combination of all? The need to have the newest thing on the market?

Either way, most of us are happy since the majority on here buy second hand, something we couldn't do as easily if the market wasn't like it was. I just can't understand why you would need new for the sake of it, even if you got a worse car for more money.

I find it interesting since I had quite a few friends at sixth form whose parents would only let them be seen driving in brand new cars, never a '94 uno, it seems backwards to me.

The Negotiator said:

I find it interesting since I had quite a few friends at sixth form whose parents would only let them be seen driving in brand new cars, never a '94 uno, it seems backwards to me.

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I think thats it. People like to be seen to be driving a new car. I'm sure it was the only reason people bought those City Rovers - they wanted a new car.

With so many finance options avaible now, people can and do buy new cars even if they can't really afford them. Of course, after a year or so the car isn't new so they have to buy a new one to keep up with the Jones'.

As with any free market, the second hand car market is controlled at the basic level by supply and demand - thats what sets the average price level. Supply is high because people are buying new cars so often and selling their old cars - supply outstrips demand, and the average price level falls. Demand isnt stimulated because people are buying new cars instead.. which in turn leads to a supply increase. Viscious circle time i tells thee.

I don't think I will ever understand it, personally for me I would rather drive the best car I can afford, irrelevant of whether it's brand new or 5 years old, aslong as the costs weren't different overall, i wouldn't care. Maybe I am just weird.

I suppose driving a '98 Coupé 20vT doesn't get you as much "resppppect" as driving a 2 day old black corsa sxi or whatever they call them.

I bought a new air freshener for my car yesterday so it smells like new anyway

yep they cheep coz theres too many people buying new ones (coz they nuts) so there loads of second hand ones, people who by new get scared when warenty runs out so renew evey 2-3 years where as people who buy used tend to keep them for about 5 years so theres always going to be too many used ones.

edited it, cant find my glasses

The comparative cost of new cars has dropped hugely in the last few years, so people who were used to spending money on second hand cars can now afford new cars. The cost of borrowing and availability of money also makes it "easier" to buy a new car.

People do buy newer smaller cars because the running costs (not including buying it) are lower then buying an older bigger car.

From my point of view, I don't have a lot of time to spend working on cars so I want something which shouldn't need too much work (strange choice buying a Fiat) or under warranty so I don't have to worry about it. The other main reason for buying a Ulysse new, was the safety factor with a young family. It is a 5* car and has a huge amount of active and passive safety features. I would always opt for a ex demo or nearly new car, but the model was too new for me to find one, but I did get a 20% discount on the new price.

New models do tend to have features which weren't available on older models as well.

personally for me I would rather drive the best car I can afford, irrelevant of whether it's brand new or 5 years old

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It totally depends on how you define best. Some people (arguably stupid) will go for a new, lower specced car purely because its new. And they "know" new things are better, they're not sure why - they just are. Modern society taught them this?

Maybe its just a 'keeping up with the jones' mentality that some folks have. I know at my school there are kids who have brand new cars and I can't believe that their parents can justify spending so much money on a first car. In a years time will be worth half as much and a car costing £1000 will do the job just as well. I find it funny when i see people driving in with brand new cars when my little cinq is faster and more individual despite being 8/9 years older. I could have had a new car if i wanted, but at my age, this a massive waste.

Although someone has to buy new cars, other wise there won't be any second hand ones

I think that people should be able to spend/waste their money on anything that they like, whats the point in going to work if you don't spend what you earn?

edit- i left my computer whilst typing this, snap arc

but mr jones has an old maxi and a j reg toyota and mrs jones just got a V reg honda

Poggy, your situation is one I understand, I can see why you bought the car you did. However, a lot of people simply can't afford to buy new but still do, whereas they could get a car just as good or better, for less money.

The population of this country is in £1trillion debt, (source: http://uk.biz.yahoo.com/041220/22/f8w8g.html). In the main, people aren't spending their own money.

Then again, I don't want this thread to go down the direction of borrowing...

When I was a student, I bought cheap cars and fixed them up. My first car was a MkI Ford Escort which had been stolen recovered and I bought it for £20 in 1987. Sadly it got stolen a year or so later and was trashed.

As I said safety was key to me buying a Ulysse and as I could afford it felt that buying a cheaper less safe car for my wife wasn't an option. I had a potential bad car accident a few years ago and I am probably more concerned about safety than a lot of other people as a result. Basically I had a company Rover 414 and I was just parking outside a pub when a lorry came down the hill out of control and hit the bridge over a stream just in front of me. I managed to jump clear with my father, but the lorry hit my car and drove up the bonnet and rolled onto two other cars. My Rover was pushed through a hedge into a pub garden and hit a picnic bench with a load of people sitting on it knocking them all over. My father was also pushed over but wasn't injured at all fortunately. The lorry was full of scaffolding and it spilled everywhere. We rushed to help the lorry driver who was trapped and fuel was leaking everywhere, somehow we smashed the screen and the lorry driver took off into the fields as fast as he could. It was pretty obvious he had been drinking and didn't want to be caught.

The place was carnage, cars everywhere, the police, fire brigade and ambulance turned up and they were fantastic. The police were amazed that nobody was killed and in fact apart from a few scratches etc and some soiled pants, nobody was hurt. When the policeman looked at my car, he said "Let's start with the basics, what car did you have because I can't recognise it given the state it's in". The police came round a few weeks later and explained they had found the driver at home and he had been to the doctor and was suffering memory loss.They could only prosecute him for leaving the scene of an accident.

When I went to the recovery yard to get my personal belongings out of the car, I found the car stereo had shot out of the dash and landed on the back seat. What was amazing was the passenger compartment wasn't too bad considering a lorry drove over it. It was in the local newspaper and the headline was "Lorry appeared to use the Rover as a ramp. There were tyre tracks going over the bonnet onto the roof".

So I do pay attention to the NCAP results now.

lol...

oh dear.

poggy said:

So I do pay attention to the NCAP results now.

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Although I wouldn't imagine that much would stand up to a lorry crashing into it full tilt, regardless of NCAP rating!!

I bought my (nearly new) car because I fancied it! Simple as that! Plus it was over £2000 under the list price (6 months old with 1300 miles on the clock). It was, to all intents (sp?!) and purposes a brand new car with all the benefits of a brand new car for a lot less money.

I wanted a car that was newer than the one I had, something that would be a lot cheaper to run and insure but something that was still quite cool and a little speedy, so the Mk2b Punto Sporting did it for me.

I think to a certain extent, there is a "keeping up with the Jones'" factor involved in people choice of buying new but if they can afford it, then so be it!

I bought my car new because simply i wanted it perfect and I wanted it specced to my liking.

The fact that I paid the same price as a one year old version is irrelevant as i would have still got it new if i was paying the extra 25%. I just got lucky

The backing of the 3 year warranty and the fact of no MOT worries was another big plus point for me.
The only downside to me is the fact that once you have a new car it's always gonna be downhill from that point on. Which is my reason for doing some mods to my car, it keeps me interested in it and there's always something new and exciting round the corner to look forward to.

I bought the Ulysse new for the simple reason nothing else on the market met our requirements, at that time. I had no qualms spending what I did on it; I had the means, I used them. We also intend to keep the car for some time, and only two more HP payments left on it, which is a bonus.

As for the Stilo, second hand, coz it wasn't a priority as such.

However, my next car will potentially be BRAND NEW. As for losing value in it, oh well, extra tax relief I suppose.

Stuart DemonD said:

I bought the Ulysse new for the simple reason nothing else on the market met our requirements, at that time. I had no qualms spending what I did on it; I had the means, I used them. We also intend to keep the car for some time, and only two more HP payments left on it, which is a bonus.

As for the Stilo, second hand, coz it wasn't a priority as such.

However, my next car will potentially be BRAND NEW. As for losing value in it, oh well, extra tax relief I suppose.

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It would be just plain mad for someone in your possition not to buy new wouldn't it Stu ?
Or do you get the same benefits buying second hand ?

KoArAnG said:

It would be just plain mad for someone in your possition not to buy new wouldn't it Stu ?
Or do you get the same benefits buying second hand ?

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I get whatever benefits based on cost of car i.e. not under the company car regime, which is ludicrous now, and based on list price - buy a cheap Ferrari, get clobbered on its original list price.

The Ulysse is for Jules, she is self-employed. I will be self-employed by time I buy next car. Simple as that. The fact I want to buy new is because I can spec it as I want it 100%, no comprimises.

I'll do your self-assessment stu when you take over?

The Negotiator said:

I'll do your self-assessment stu when you take over?

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I will self-assess myself, but thanks for the offer

Ha, and what makes you think you're qualified to do that?!

The Negotiator said:

Ha, and what makes you think you're qualified to do that?!

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I will pay my tax specialist to do it for me - then I just sign on the dotted line