To ask what is going on with buying cars at the moment

[blueyislife1]

We need a new car, we currently have a SUV type and want another SUV type. 3 years ago we put on finance a £19,800 SUV and pay approx £270 a month.

Looking today at same model same sort of age gap e.g we got a 18 plate in 2020 and now looking at a 20 plate. Showing as £21,500. Fine things have gone up. But the finance in now £450 a month!!!

This seems to be the same for most dealerships except VW who show as £279 on the website then in the dealership they say that's no longer the case it's actually £530 a month!!

What is going on. We are loosing our patience with it and need to trade in the car!!

We need a 'big' car due to children and various dogs so has to be an SUV!

Most Estate cars are the same size or bigger than a Kuga. As I mentioned, an Octavia will be both cheaper and bigger than a Kuga, which is not a large SUV.

If it's only 3 years old why do you need a new one? Have you done a lot of miles in it? If you haven't, I can't see the point of changing it. Cars are really expensive now, as you've discovered.

OK it's 5 years old. But my point still stands. Modern cars easily last 10 years unless you drive them hard.

Buy a bigger as per your specifications but a bit older! Set your at what you need it to be, see what is available....I'm pretty sure you could get a decent car still

Why do you “need” to trade in an 18 plate car? It’s barely 5 years old. If you can’t afford a new you have to make do with what you’ve got, just as people have always done. It’s really that simple. No need to “keep up with the Joneses”.

We have just had the same thing in that our PCP came to an end. We had planned on getting a new car, but there were no cars available for the same payment each month so we bought the car with a loan instead. The loan works out cheaper than financing a newer, lesser spec model and we now own it ourselves albeit with finance over three more years.

Another one here saying you just don’t need an SUV. That’s ridiculous. Unfortunately, you might have bought into the hype/ status/ marketing. Still, you live and learn.

If you need space, you need an estate. Cheaper and much better. If you are more style over substance person, then yes, an SUV is your option. Trouble is you can’t afford it.

A Kuga is not an environmentally sound choice, BTW. Especially if you look to replace every 3-4 years. Check out its mpg Vs an estate.

Yet you’re thinking of getting the same model????

it’s not malware, that’s something else entirely. It’s bugs or faults.

I can’t imagine why you can’t work this out? Interest rates have been widely discussed as rising, it’s big news.

you can’t afford to replace your car so quickly so the best option you have is to pay the finance figure - why didn’t you save for this eventuality? Even with the recent hikes, you’d have had SOME cash towards the figure.

if you can’t afford to pay £12k the only option you have would be to get a bank loan for it, to pay off in 2 years and only change the car once you’ve paid it off

you can’t live on the never never. It might look great you driving around in cars that are never older than 2-3 years old, but that’s the preserve of people with lots of money or those who save up.

If it's space, rather than SUVs you could also look at something like the Citroën Berlingo. Maybe even a VW bus?

@MzHz actually we've been looking at VW. We had a brief look at Ford to see the prices which I've used for comparison

The same thing that's happened to everything bought on credit...

About 18 months ago we went car shopping for a new car. There were none available and an indeterminate wait so we decided to look at slightly used. The cars that were 2 years old cost more than new. We decided to order new and muddle through until it arrived which thankfully only took 6 months.

Please read my posts. We are coming to the end of our agreement

I get three tall teens, two dogs and 4 bags of horse feed in my Citroën c3 Picasso 👌

Finance is always ridiculous. Look into a bank loan, it will be much cheaper.

This. Buy it and sell it yourself for £20k?

(cost 4k about 7 years ago and is now 12 years old)

This thread is interesting though as I've always wondered how people could afford such new cars - turns out that they can't!

😀

With high interest rates people are going to have to get used to having what they can pay for...

Many people hire them.

It's not a bad idea if you need your car always to be new and well kept (and there are some times when you do). You'll never own it, of course, but as long as you factor the costs into your budget, that may well not matter if the priority is for it to be very new.

Interestingly we have found that e.g a used VW t roc (2019) is 31,000. A new equivalent is £33,500. There isn't much of a difference now.

Yes, I was thinking an Octavia or Superb would be a better choice than a Kuga.

LOL at need an SUV.

Get an estate. Cheaper. People will totally think you’re poor though. IME the richest people have the oldest cars as they don’t fritter away hundreds of pounds a month on something they’ll never own.

I agree you should sell it, pay off the finance and either buy a car with whatever is left or look at a bank loan to top it up. You will sell it for more than you owe because of situation so you are in a pretty good place if you don't want to keep it.

I ordered a brand new car in December through a salary sacrifice scheme and I had no idea about the new car shortages. It will take a year for it to be ready they've said! On the plus side my current car is now worth way more than I owe on it!

Why does anyone need it to be new? Genuinely? I'm worried I may have offended people with my very old car.