To not buy a second hand car.

[JacktomyDaniel]

Does anyone “know” cars or has been in this position before?
We’ve decided to get a second car. We have enough spare cash a month to fund finance of around £190/200 and so could afford a small new car on pcp. This would need no MOT and would have warranty.
Husband thinks we should buy an older car around £4000 and take a loan.
I’m also toying with buying a much older car around £1000 and running it into the ground. My question really is which is the sensible option. I know people who have had bangers and driven them for years with no issues and yet our other 5 year old car has already cost us 1k in repairs! We could have a bigger, older, higher spec car with the risk of repairs or buy a small, new, low spec with warranty.
Any advice?

It's very difficult to give a direct answer because no two used cars are alike.

Have a good look at what the warranty on your new car covers and look up customer reports of their experience with the warranty. Often, a headline long warranty figure won't cover the entire car against wear and tear or consumables and will have quite strict servicing requirements. There's also the issue of devaluation: simply driving it away from the dealer will be effectively throwing away thousands of pounds.

You could also look into purchasing a used car from a dealer with a decent warranty (though you'll pay more for the same vehicle than you would from a private sale). Again, check the warranty terms.

By an older small low spec car surely?
Maybe 5 years old, 30-50k on the clock. I think you have been unlucky with the amount of repairs needed for your existing one.

You obviously don't need a bigger car as you wouldn't be considering a smaller one if you did. Then you'll be staying more within your means.

Would you have to pay a lump sum at the end of the pcp or would you continue renting?

Ive never had a new car and never used finance. The depreciation isn’t worth it. My last car was 12 years old and then I replaced it with something 18 months old. It’s under warranty until it’s 3 years old. Which atleast means that if there’s anything immediately wrong or it’s been misold I’ve driven it for long enough to find out.

I think finance and PCP is a bit of a vicious circle in that once you’re caught in it it’s hard to get out of it. So if you can’t afford outright a loan seems more sensible.

I think buying a brand new car is a bit bonkers. They depreciate so much the second you drive it off the forecourt. Better to get a nearly new one instead.

PCP over 3 years works out at approx £ 6000/7000. Nothing to show at the end and you have to keep car within mileage limits and pay for any damage, so can cost more.

Used cars even if you are unlucky i.e. lots repairs £1000 + cost of car £4000. It’s still works out cheaper and you’ve got something to show for it at the end.

I would never get a car on pcp the inspection at the end of the term is so ridiculous that even reasonable wear and tear will leave you with penalties to pay. Also when you buy a car you have an asset that can be sold if needed a hired car is just dead money.

For years I’ve brought secondhand cars with varying success. I thought the idea of buying new was ridiculous. The last car we had turned into a money put and DH pointed out we had spent more on repairs and devaluation than a new car would have cost us. With two small children and both of us working we don’t have time to deal with car breakdowns.

So we brought new.

I love it so much! It’s so nice having all modern conveniences. It’s beautifully shiny and we both love driving it and has a very comprehensive warranty and things like breakdown and tax covered. We got a far better deal than on an equivalent 12 month old car.

Peace of mind and convenience is worth it to us. It’s a much nicer car than we would have had otherwise.

Pcp is a joke. Second hand cars are often better too to be honest. There's a lot of electrics in newer cars so lots more to go wrong and no idea where to begin on fixing it.

Don't buy French cars though. Go German or Japanese, can't really go wrong then.

Buy used>buy japanese...

Thanks so much everyone. If doing pcp we wouldn’t be able to buy at the end so would end up leasing again. I’d definitely almost rather have a nicer older car than a new one but I’m just so wary if repair costs. Good to know about Japanese/German though. Will get looking.

I would definitely recommend an older VW Golf!

Some cars are more worth getting new such as kia and hyundai that do 7 and 5 year warranties.
Ive done a PCP before for a new car and would never do it again as its basically dead money unless you buy it out at the end, and even then they depreciate sooo much. Its nice to have the newness and reliability.

I wouldn't get an old banger to run into the ground, as they could end up costing a fortune in repairs and upkeep.

Personally i would get something 1-5 years old with a good low mileage that's still reliable and will last you.

I bought my Picasso 2 years ago. It's a 59 reg. and the only time I had a problem with it was when I pranged it (my fault).

The guy at the repair garage I go to swears that if everyone drove Japanese cars, he'd be out of business! I always go for a used car; when we married at first DH had a car on PCP and it worked out really expensive, plus he was really stressed about any damage or wear. With a used one, it's yours, you can bounce it off as many walls as you like, and you have something you can sell if you need to.

I try to buy from people I know - my parents' friends seem to be big fans of buying new cars and then selling after 3 years, so that can be good. Or a decent garage.

Modern cars do tend to run for years. You often need to replace the exhaust and battery at around 6/7 years, so you could check whether those have been done if you're buying one around that age. Fords are generally thought of as cheap to repair (I had a Ford for 12 years; bought at 6 years old for £2000, and apart from a battery and a new exhaust, the only repair bills in those 12 years were for tyres, a light bulb, and a couple of sets of wipers). Obviously the fuel efficiency wasn't great by the time it was 18, but I wasn't doing much driving so it wasn't a huge issue.

I would never buy a new car as it looses so much value the second you drive it out of the show room. You'll also be paying a fortune on interest and the finance deals are usually awful.I'd buy a second hand car which has had a recent MOT and comes with a warranty and hasn't done many miles.

Don't buy French cars though. Go German or Japanese, can't really go wrong then

Hmm, the French car that I sold when it had 120k miles in the clock 6 years ago is still going.

The Japanese car currently with 80k miles on the clock that I bought 5 years ago has just failed its mot, and it can't be fixed.

My current car by the way is 2008 vw golf. I bought it 2 years ago with only 49,000 miles on the clock. Bloody bargain that car was. Think it was £3250. 1.9tdi so good, powerful engine and it will last a very long time as long as I take care of it, which I do. Don't discount based on age with Japanese or German cars. Older is sometimes better. We service it ourselves as its cheaper that way too, plus garages never do a proper full service. They often don't bother doing air or pollen filters. And I swear that Arnold Clark don't change oil at all. They certainly didn't on a car I bought from them.

GottenGottenGotten you will get the odd French car that is good. I had one too, although it was a boring car. However, I've had a Renault clio that broke down repeatedly, a Renault laguna that dropped its oil out randomly and made its engine explode, a Peugeot 206 that required a clutch change twice and an engine change, and a newer Renault clio with dodgy as hell electrics.

1 decent car isn't enough to change my mind that overall, French is shit. Its cheap, but there's a reason for that. It's shit.

You had a dodgy Japanese car. But I've known plenty more that were brilliant and lasted years.

Oh op, if you can find a saab with low mileage, as long as it doesn't have a turbo, buy it. They are brilliant too but very unlikely you'll find one with low mileage now, they stopped making them.

I always buy second and but I suppose it depends on the model. My last 2 cars have been Mitsubishi. The first a colt which I upgraded to an asx once we had dd for her pram and camping etc. My asx I have now done 80,000 miles in and it has never had a single thing done. My colt was the same. My mechanic swears every time we take it in for it’s mot it’ll be fine for the next year and it always is. However my mum had nothing but problems with her car; so I think it depends on the model and brand when buying used. Some are more reliable than others

I love it.

So basically you are saying my experience (which isn't just based on those two cars, but those are the most recent examples) is less relevant than your general assertion. Although to be fair, I've never owned a Renault.

I would certainly buy a French car again though, and might also buy Japanese, but that depends on how the company deals with the issue (which is under warranty, but I'm still waiting to hear from them nearly 3 weeks later... So the customer service isn't great...)

I was giving the op advice not you. You didn't ask for it. I'm saying I would never buy French cars again after buying something superior, German. Why would I buy crap again? I won't trust them again after all of the expense.

You can if you want, so can the op. Advice can be taken or ignored. Get offended if you want I don't care, as well as buy the French cars if you want. It's your money.

For our last two purchases, we considered new or slightly used. We wanted something with remaining warranty. New cars came with zero percent financing, a loan on a used car charged interest. We did the math and the new car wasn’t really any more expensive in the long run and we got much more time under warranty.