AIBU to buy a new (to me) car in current situation?

[itsonlyaradish]

I am torn between a feeling of lifes too short and if I want nice things I should have them, but a more practical feeling that it's an unnecessary liability.

I don't drive that much, I WFH so driving is mostly local plus a 400 mile round trip journey twice a month. I have a practical diesel car which is a real workhorse, I got it cheap, it's done 130000 miles, costs me under 500 a year to keep on the road (new brakes, tyres etc but the engine is great) my insurance is fairly low. It's nice to drive but it's 12 years old and lacks bells and whistles - no cruise control, no bluetooth (though I have got a plug in thingy which does the job), no parking sensors etc.

I see all these fancy cars on the road, with automatic boot openers, and all kinds of added extras and think I'd like something that was just more fancy than the sensible car I have now.

That said, I don't want something too big that I'm struggling to park it anywhere, or so high end that I'm worrying its going to get stolen or damaged. And although I could afford something better, I can't help feeling its a waste of money and I'm just falling into the trap of wanting shiny, flashy things for the sake of it.

If you were me, would you stick with sensible practical car or ditch it for something 'better'?

Do you actually want a new car, or is it just because your friends have fancy new cars?

The only thing I'd point out is there's v soon going to be a tax on driving less green vehicles in London.
Don't know if other big cities are doing too?
There's a penalty for diesels.
However, if you don't drive in those places, there's no issue

Two years ago I spent £16k on a 3 yo 5 series BMW. My car previous to that was bought for £2.5k (still got it). No regrets for me, it’s great to have something that I know will get to where it’s going, it’s a joy to drive, it’s practical (estate) and barely sips fuel. Previous to it I was spending big repair bills and had the uncomfortable worry about it letting me down.

Also I’m really aware of safety, my husband and son were in a scary accident a few years back and the car saved them, so in my mind it’s good to have a really safe, strong car.

Get a new one if you want one. But don't get yourself into debt because of it. I am surprised that you have an old vauxhall that is still working though, you got a good one there, always known them to be reliable at breaking down and nothing else.

@SmokeyDevil that was my first reaction!

@itsonlyaradish there is a massive difference between upgrading to a 2/3/4 year old hybrid, with some jazz about it, and plunging a second mortgage into a Range Rover.

If I were you, and could afford it without a damaging finance agreement, then yes, I would upgrade to something economical (in both finance and environmental senses) and that I enjoyed/was fun.

I was in a very similar position a few months ago and upgraded. I am so glad I did. I spend about 90 minutes a day in my car for a commute and then more for holidays/day trips etc so not having AC and my ds being cramped in the back became untenable. I was scared because the car I had was reliable but it did have 120 000 miles and I thought I would rather be in control of when I switch than have it die in the middle of winter when work is stressful etc. Even if it would have lasted another couple of years I'm glad upgrading it was a positive exciting experience, rather than a stressful one thrust upon me at an inconvenient time.

I also think having a loan (not pcp) is fine, as long as the monthly payments are affordable and it won't stop you doing other stuff, including saving.

Personally I'd stick with the car you have for now, but put £200 a month away for six months and research what you'd like. Test drive a few but don't buy anything just yet.

Then you'll be making a solid decision based on fact not emotion and you'll have a sense of how much it's going to cost you and whatever other lifestyle adjustments you might need.

I like owning my car outright. It's also 14 years old, diesel and has done 130k miles.

It's an expensive mistake to make if you are scratching an emotional itch.

I would stick with what you've got, every extra that a car has is another thing to go wrong. Q7 tyres over £1000 for four, fancy LED light cluster on a Mercedes over £1000, parts maintenance everything is more expensive.

I'd keep your old, reliable car, better the devil you know.

@PivotPivotPivottt

If you can afford it go for it. I drive a 16 year old car which has a few problems. I can't afford to buy a new car and the insurance on it is really cheap I'm still a relatively new driver. I hate it so much if I had the money I would definitely buy something else. I'd be happy with something from around 2013. I'm so embarrassed driving around in my rust bucket but I don't have any other choice.

Why are you embarrassed? this is so weird and so indicative of the stupid British class system and keeping up with the Jones crap. I drive an old car...I actually own it, unlike the newer cars on the road which are mostly on finance. A new flash car generally prices nothing except you managed to take out a finance agreement...hardly a huge achievement

*proves nothing not prices nothing

If it's right for you do it......i just did.
I have always had a wee runaround for £1300 ish. I just decided one day i wanted a newer car and last month i got a 6 yr old diesel Note and i love it. Went for finance though, PCP is not for me.

Keep the car you have. It sounds great. Unless you have millions in the bank and nothing better to do with it buying a new car would be a total waste of money. It's all very well having a car with all the bells and whistles but there is more to go wrong and things are more expensive to fix than on a basic older car.

Do NOT do PCP. It’s such a scam and so bad for the environment.

It rather depends on the interest rate. One of our cars is on a 0% PCP. You’d have to be stupid to tie capital up buying it outright in those circumstances. Contemplating getting rid as we’re now being offered more for it than we paid brand new a year ago.

Agree about lifestyle inflation.

I bought a lovely car three years ago. I'd wanted one of that particular model for ages, and at first it was such a novelty to drive. In fact it still is - I love it! However a newer model has since come out and when I was in the dealership recently having mine serviced I browsed around the showroom and gazed in wonder at all the shinier, newer models. Thing is, just five years ago my car would have been fit for that showroom. But there will always be something bigger and better come along!

Luckily we bought the car outright so there are no pcp / hp / loans to pay back each month, but I've had to give my head a wobble over my car envy.

I would say with cars to never buy brand and never overstretch yourself as the novelty will wear off before you've paid it back!

Shade17 - that's great, it's so rare for a car to appreciate in value!

I always feel it's better the devil you know with cars, especially older ones. It sounds like you know your current car inside out, foibles and all. And if it's meeting your needs, and not giving you trouble right now, why change it?

I also think you might be falling into a consumerist trap by wanting to replace it just because you fancy a new one.

The car market is going to change a lot over the next decade and I wonder if you might be better placed to keep your current one for another few years, then look to replace it.

We had a reliable old diesel workhorse - bought during the original scrappage/incentive scheme of 2009 - that we changed this year, mainly for emissions reasons, but she was probably getting towards the end of her lifespan

Out new car is a hybrid, from a cheaper brand but with absolutely all the new bells and whistles and it was an utterly startling change. I'm still not sure I even like it! And I expect that if something does go wrong, it'll be expensive to fix

In your shoes, OP, I'd stick with current car until she starts to become less reliable, or you need/want to change because of emissions.

A friend remortgaged their house after then had an extension done and used some of the money to buy a brand new tesla. However she won't drive it work as she is worried about it getting damaged in the car park perfering ro get public transport in a pandemic.
I have a 8 year old diesel estate so don't worry about it getting damaged and gets me where I need to go. I don't really care about having a flash car. We used to have two cars but mine got scrapped and do miss having a small run around but husband is working from home for foreseeable so might as well save the money now.

Shade17 - that's great, it's so rare for a car to appreciate in value!

Happening a lot at the moment due to the shortage of new cars. The market’s pretty crazy.

I say do it. I had a brand new car I loved, kept it for 17 years before buying another one

We only do 7,000 miles a year but still bought a shiny (and she does as actually sparkle in the sun as she had glittery paint) new car. It pleases us and we won't be trading it in

My old car is now 22 years old and is the biggest garden ornament ever

thanks all - some good points made!

I'm very much a Vauxhall fan, the whole family have them and they've always been reliable for us. A newer Vauxhall, like a Crossland or Grandland, is definitely something I'd consider IF I decide to upgrade.

I live outside the London ULEZ, the planned expansion this year doesn't quite reach me although it will only be a couple of miles away. Fortunately none of the places I go to regularly are within it. It's possible they may eventually expand it further, so for that reason alone at some point I may need to replace this car.

I've got offstreet parking at home so I could put in a charging point, but when I do my long journeys once or twice a month there is nowhere at the other end I'd be able to charge it. An electric or hybrid car makes sense but I'm not sure I could afford a new one, and the older ones don't seem to have very good range.

I think maybe I need to stick with this car for now. It is reliable, big enough I feel safe in it, but not the sort of car anyone would steal. If it gets scratched in a car park I wouldn't care.

Whereas if I spent 15k on a car I'd be worried about it getting damaged, and the fact I'd spent 15k of hard earned money on something that I'm not even using everyday.

Why are you embarrassed?

I'm embarrassed because I'm a low paid single parent who relies on Universal Credit. A lot of people might not understand but when you can't afford nice stuff it is embarrassing. I take my child to her dance classes and the car park is full of nice cars with private registrations. I stand out like a sore thumb it's obvious I am the poor parent. If I had a lot of money it wouldn't be bother me as much but I don't and my car is an indication of that fact. I also can't afford holidays, nice clothes etc. I'm embarrassed by all of this and it would be nice to be able to have nice stuff. I accept this though there are people worse off than me and I am still proud of myself that I managed to pay for lessons, tests(!!) and my old car but I wish I could do better. I

@PivotPivotPivottt

Why are you embarrassed?

I'm embarrassed because I'm a low paid single parent who relies on Universal Credit. A lot of people might not understand but when you can't afford nice stuff it is embarrassing. I take my child to her dance classes and the car park is full of nice cars with private registrations. I stand out like a sore thumb it's obvious I am the poor parent. If I had a lot of money it wouldn't be bother me as much but I don't and my car is an indication of that fact. I also can't afford holidays, nice clothes etc. I'm embarrassed by all of this and it would be nice to be able to have nice stuff. I accept this though there are people worse off than me and I am still proud of myself that I managed to pay for lessons, tests(!!) and my old car but I wish I could do better. I

Cars are not on their own an indicator of wealth anymore. I know a mum at my dcs school who couldn't afford a £20 school trip. She drives a range rover. It's often a facade of credit and hp agreements. My 20 year old workhorse never let's me down...my neighbours brand new car broke down last week.

I am in a similar situation to you. I bought my car new in 2011 and although I still like it and it's working fine, I can't help being jealous of my friends' Audis/BMWs/Mercs. Having said that, none of my friends own their cars outright, they are all on HP/finance/PCP. I worked it out that I've saved approximately £9000 compared to them over the past 6 years, only taxing and MOTing my car and owning it outright. I won't get anything for mine in part-exchange now, so I'm going to ignore the green-eyed monster and just drive my car for as long as it keeps going. Maybe when I'm not paying out nursery fees too I might re-evaluate!