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aibu to buy a new car?

(97 Posts)
smokinaces Mon 06-May-13 15:04:14

I am a single mum of two. Have been for four years. I have worked the entire time, four days a week at around £10k a year. I get dla for ds1 (aspergers) and some housing benefit as well as tax credits. I budget well, and try and spend wisely.

My car is ancient. Twelve years old, 135k miles. It has been patched together so many times it is a money pit. It will fail the new style mot in the summer. It is making a funny noise when I steer, and when I break. It is on its last legs unless I put about five hundred pounds into it.

I have found a deal on a brand new small cheap picanto for me and the two boys. It's safe, reliable. It would need no deposit and cost me 170 amonth - more or less the dla money. Until October I pay £150 a month on a bank loan from my marraige breakdown four years ago. Come then it will be only twenty quid a month more. And i wouldn't need to use the dla money anymore. (I also get csa money which isn't allocated to anything as although some weeks its regular, others its not)

I need a car for the boys to get to school (rural setting) and me to work. I need it for ds's various clubs for his aspergers (he does to one every other day)

I could extend my bank loan, but would mean I would have to get another seven or eight year old car. This new one would be zero road tax, and insurance and breakdown is included for first year. It's also got seven year warranty and no mot needed. If I get another older car it could end up a money pit like ky current one.

But I have been made to feel I'm out of order for buying new. That being a single parent in social housing receving benefits and tax credits, although I've worked continously since i was 16 and am studying for my degree as well as working a four day week, i shouldn't be getting finance or anything. And I know it will cause raised eyebrows and commets at the school etc.

Aibu?

Message withdrawn at poster's request.

lljkk Mon 06-May-13 15:39:37

How many miles per year do you currently do?
I think there's a lot to be said for peace of mind in a reliable car with a good warranty. You know you can afford it.

Your old car has to go, I agree, it's a matter of what you get to replace it with.

Mine was 18 months old with ? ~12k mileage & still under manuf. warranty for 6 months, with dealer warranty for another year after that. About £3k off of new price, otherwise. I probably paid over the odds because I just wanted it done with, hate car shopping. You are busy too, I think.

specialsubject Mon 06-May-13 15:40:05

new cars drop a thousand or two the second you leave the forecourt. Only someone who works in the car industry will recommend buying new, unless money is no object.

buy a year or two old and let someone else pay the depreciation. Ex-company cars are good as they do long journeys and get serviced.

ginmakesitallok Mon 06-May-13 15:41:19

What about getting a very nearly new car, one with delivery mileage, one that's been used as a test drive car? Can often get the same finance as with a new one. With the deal you're considering don't you have to pay off a balance at the end of the hire term?

KatAndKit Mon 06-May-13 15:42:45

I bought a one year old car - it was as good as new, I still had two years of warranty left on it, very low mileage too. I wouldn't have afforded it new but it was a great deal at one year old and only 5k miles on the clock.
170 a month is a fairly hefty commitment especially when you are on a low income. If you can afford it without putting yourself into a hardship situation and you like the car then that is up to you of course. Since you are used to paying 150 a month then it is unlikely to affect you all that much. But what will you do between now and October?
I wouldn't buy an 8 year old car unless I had to, I'd rather have the cheaper make but newer.
I don't know about piccantos as I have never driven one.

TidyDancer Mon 06-May-13 16:15:58

I would never buy brand new and I also have family members in the car industry.

NaturalBaby Mon 06-May-13 16:20:13

Normally I wouldn't even think about buying new but there are some really good deals on new little cars like the Picanto. You sound like you know what you're doing and deserve it. As much as I think it's a waste of money to buy new, it is a little luxury that I really appreciated a few years ago, so YANBU.

gallifrey Mon 06-May-13 16:22:58

buying a new car is the best thing I've ever done.
It's so good knowing that you have a reliable car. No worrying about getting it through an MOT every year and having to spend a fortune on it. If anything goes wrong you can just get it done under warranty.
I would never have an old car ever again

MadameJosephine Mon 06-May-13 16:25:09

Can you not use your dla to lease a car via the motability scheme? My brother gets a brand new car every three years using his dla

smokinaces Mon 06-May-13 16:33:51

Dla can only be used for mobility scheme if you get high rate mobility. We get low rate.

I don't budget in my dla, csa or child benefit to my weekly and monthly budgets. So that's 160 + 130 +130 a month currently spent on things like outings and booking holidays, and doing up my house. So it would be tight till October but not uncomfortable.

I wouldn't buy an old style picanto, so pre 2011. They are tin cans. They are reliable, but not as safe ncap wise.

I looked at the finance options on forecourt pre registrations and they are more money and require a deposit, which I dont have.

I have looked second hand too, and to get one only one or two years old I need 6-7k which will be a big thing for he bank to lend me.

This deal is three years, plus a lump sum at the end (or give car back) it means the 8k cost is spread in two finance options, at 4.9% hence being able to get the finance on my income.

My plan is that this car lasts me seven years. It comes with a seven year warranty and would, all going well with my studies, take me up to my first year teaching.

I think I've just seen too many threads on here "my neighbour is s single mum with a brand new car, were eating bread and water, benefits are bad" etc to feel comfortable I guess.

My mum virtually kissed the floor when I said about it - she hates my car and me driving her grandkids in it.

smokinaces Mon 06-May-13 16:36:12

And with the lump sum at the end you can take a loan and pay that over three years too if you need.

Brand new this car is costing around £8k

andubelievedthat Mon 06-May-13 17:06:38

Have you checked weather you are entiltled to a dis ability car due to your sons condition?,may be worth asking ,and , as those cars are maintained to a very high standard ,they make a great 2nd hand buy

WakeyCakey Mon 06-May-13 18:17:30

Just a note I have a Kia picanto that I bought brand new and I wish I hadn't.
Although it is amazing for tax etc it has the world tiniest boot And a whole host of problems.
I personally would never recommend it as a good car. Cheap yes, but a terrible drive and will become a money pit a lot quicker than most cars.
I also bought it with 2k off as scrap page deal and so to me 8k would be a total waste of money!

But practically I do agree you should replace your car and that you should use the money that you are getting from DLA to get it as realistically for where you live it is a necessity

crashdoll Mon 06-May-13 18:24:30

It's not really my business what someone else spends their money on but as you've asked.....

I think buying new unless you really have the money is a waste of money because as said above, you've lost money as you drive off the forecourt. I recently went into a Nissan dealership, brand new Micra for £9K or 1 year old one under their "cared for" scheme for £5K. My mechanic friend said picantos are not worth it either. Just my 2 cents though.

saintmerryweather Mon 06-May-13 18:37:04

I bought a new car and have never thought 'god i wish my first car was a shitter, rather than this beautiful machine built just for me'. Ive had it 3 years now, its never broken down it sailed through its mot and its just beautiful.

I paid higher monthly instalments so i didnt have a balloon payment.

andubelievedthat Mon 06-May-13 18:37:33

I hope this addition to my previous post is not crowding this/your post but ,I googled the name of your anticipated purchase and asked my bloke( vehicle nut job),he says to tell you that with a 7 year warranty you will be very lucky to give that vehicle away when time comes to pass it on ,coupled with low initial price ,the build quality is "cheese" to answer your aibu ? absolutely not ,you so obviously need a car ,screw what others think .

It might be worth you looking at a Seat Ibiza OP. They are a similar size to a Kia but nicer and there are some good deals on them at the moment. Good deals on Fiat Puntos too.

Snog Mon 06-May-13 18:48:21

You need a safe, reliable, economical car.
Buying brand new is never going to deliver on the last one in that list but it sounds like you have your heart set on it!

34DD Mon 06-May-13 18:53:20

Message withdrawn at poster's request.

crashdoll Mon 06-May-13 18:54:33

"god i wish my first car was a shitter, rather than this beautiful machine built just for me."

If money was tight, I would feel resentful that I spent more on a car and lost money due to resale value depreciating in the way it does with brand new cars.

PearlyWhites Mon 06-May-13 19:18:49

I was going to say yabu because the dla is not for you to spend as you please it is for extra expenses solely relating to your ds aspergers. However if you need a new car for your ds to attend his clubs then no yanbu. Is no ones business what car you drive.

saintmerryweather Mon 06-May-13 19:23:35

Money wasnt tight for me i could afford my car. but like i say its never given me a moments trouble, ive never had to wonder if it was going to start.

Plus im not planning on selling it any time soon, i bought a car to keep so it doesnt matter to me that it lost however much value when i drove it off the forecourt. i didnt have to.pay any additional costs with it and had free breakdown for 3 years

Sallyingforth Mon 06-May-13 19:24:52

I'd say go for the new car if you can afford it - providing you intend to keep it for several years and don't expect to outgrow it with a bigger family. The initial value drop will not be noticed if you are going to keep it. Newer cars are more efficient now and use less fuel, plus you will have a very long warranty.

If you're going to keep this new car for 10-15 years, then yes, buy new. If you're looking for something shorter term 2-3years then buy 2nd hand. It works out the longer you keep a new car, the depreciation doesn't matter.

You're not out of order for getting a new car, you're getting something reliable, safe and affordable.

MiaowTheCat Mon 06-May-13 19:40:31

"Have you checked weather you are entiltled to a dis ability car due to your sons condition?,may be worth asking ,and , as those cars are maintained to a very high standard ,they make a great 2nd hand buy"

... one of the reasons we jumped to buy the one we're picking up tomorrow - it's an ex mobility one. I'd never buy a new new car - because of the depreciation factor (and the fact I'd be shit scared of denting it), but this is about as new as we're prepared to get.

We've just had to make the same sort of decision (without the stigma though) - our car just failed the new-MOT brutally (talking three pages of failure notes and four digits before the decimal point on the repair estimate, plus a tonne more advisories for next year)... economically it wasn't viable at all to keep it running - which I hate the idea of because the idea of scrapping cars that still run is just awful to me (we always handed them down in our family wherever possible - but my younger brother's car's newer than ours anyway so we're pretty much at the bottom of the pile).

The idea of less worry regarding things going wrong based on old age of the car is a nice change for us though.

Of course the day we sign the paperwork the council puts the signs up about surface dressing the roads near here and loose chippings everywhere - bye bye nice shiny scratch-free paintwork!

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