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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

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

182 replies

blueyislife1 · 19/02/2023 14:56

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!

OP posts:
SamanthaCaine · 19/02/2023 17:25

category12 · 19/02/2023 17:17

But not having an MOT and slightly cheaper road tax - it doesn't really add up.

If you're buying on finance, you're paying interest and more than the car is worth for years on end. New cars can still need repairs, still need new tyres etc.

Show quote history

With respect to the OP, this is something people often tell themselves to justify perpetual new car finance.

MOT is £55. Road tax differences are often minimal.

Don't forget the depreciation. This outweighs almost everything usually. OP has spent £9720 over 3 years to cover the depreciation of her current car. Although this could be mitigated by selling privately instead of handing it back.

OntarioBagnet · 19/02/2023 17:27

Also a VW will be expensive compared to other makes. How about something like a Kia or Hyundai, would they be cheaper?

User18936572 · 19/02/2023 17:28

So OP can't afford a Ford SUV but is going to look at a VW SUV instead - that makes sense.

Original poster
blueyislife1 · 19/02/2023 17:29

User18936572 · 19/02/2023 17:28

So OP can't afford a Ford SUV but is going to look at a VW SUV instead - that makes sense.

VW comes out cheaper than Ford?? Same way as a Ford is cheaper than a Range Rover. All have different price points to consider. Not sure what your point is here

OP posts:
User18936572 · 19/02/2023 17:30

Well you obviously can't afford either

Original poster
blueyislife1 · 19/02/2023 17:34

@User18936572 for context please see photos. Monthly repayments for both are sat at 430 vw and 495 Ford. Both different price point but it doesn't seem to make a difference!

To ask what is going on with buying cars at the moment
To ask what is going on with buying cars at the moment
OP posts:
MrsPnut · 19/02/2023 17:34

We went to look at cars today and noticed how few used cars the dealerships have on their forecourt’s.
BMW were about 60% empty which I have never seen before.

ChateauMargaux · 19/02/2023 17:36

The difference between the monthly payment your MIL was offered and the monthly payment you were offered can only be down to a set number of things:

Initial payment
Number of months of finance
Interest rate
Final payment

Look at both finance agreements and see what is different.

You could get a bank loan to pay the final payment for the car you have and the difference between the amount you could see the old car for and the cost of you next one..

Doesnthaveaphd · 19/02/2023 17:37

The no MOT justification is bollocks.

It’s always the cheaper option to buy a slightly older car (outright or with a bank loan) and pay maintenance yourself. But of course you don’t get a shiny new car to drive about in then.

It’s really good for the car sellers that so many folk are obsessed with keeping up with the Joneses though. They wouldn’t make any money otherwise!

StillWantingADog · 19/02/2023 17:37

KettrickenSmiled · 19/02/2023 16:03

We asked for a valuation of what they'd sell ours for and they said about 29-30k (won't offer us that price though haha)

So pay them their £12k, then sell the car on privately for anything over £25k.
You'll then have a cash sum of £13k - £17k left over to buy a good second-hand car with. AND you won't be needing to find £270 a month, let alone £450 a month, just to lease somebody else's asset, in a scheme that is weighted in the dealer's favour & financially detrimental to you.

It's a no-brainer. Even if you set £200 a month aside for service/unexpected repairs, you'll be instantly better off, & likely saving up a nice sum of cash for the vehicle after this next one.

This. With bells on.

89ghud · 19/02/2023 17:38

@blueyislife1 that's because it's an ST Line, you're comparing apples with pears, you need to find a standard model.

Original poster
blueyislife1 · 19/02/2023 17:39

We've decided on a bank loan then will sell privately later on this year to watch what's happening etc. To be honest we didn't even consider bank loan!

OP posts:
User18936572 · 19/02/2023 17:39

Why do you need an SUV, neither of those cars are 4wd, do you need the road clearance?

Original poster
blueyislife1 · 19/02/2023 17:41

@User18936572 please read previous posts!

At the moment it's the only cars we've seen that fit in pram, bike, DC and dogs and then the rest of the crap you have to take out with you!

OP posts:
User18936572 · 19/02/2023 17:43

I would probably get a bog standard large estate car in a less fashionable shape, you pay more for SUVs as a lot of them are fake 4wds.

Cantstandbullshitanymore · 19/02/2023 17:44

blueyislife1 · 19/02/2023 15:30

We have to pay the settlement figure which we didn't want to do.

It's not the best car and has had lots of malware issues in the touch screen.

Settlement figure is £12000 upfront

Show quote history

That’s why it’s better to get a loan which means you own the car after you it off rather than leasing or PCP unless it’s that important to you to have a new car every 3 years.

OntarioBagnet · 19/02/2023 17:47

A similar spec Ford will be cheaper than a similar VW. I’d be amazed if I was wrong on that. I’ve never bought a VW because of that even though a Passat estate was my dream car for years. A mondeo was always cheaper.

StickofVeg · 19/02/2023 17:49

A few factors are affecting the price of second hand cars including the global chip shortage and shutdown of production lines during Covid which has caused a shortage of some new cars, This has pushed the price of second cars up. High interest rates also play a part making your finance expensive.

C4tastrophe · 19/02/2023 17:51

Look into buying the car for 12k and repairing the screen.
www.kugaownersclub.co.uk/forums/#mk2-mk2-5-kuga-2012-2019.7

Faced with your choices, I’d even buy the car, a phone holder, and use the Sat NAV on the phone.

OntarioBagnet · 19/02/2023 17:54

I’ve just had a look on Evans Halshaw. Plenty of kia sportage with monthly payments under £200 a month.

whynotwhatknot · 19/02/2023 17:55

i used a bank loan for my car even 5 years ago the dealership rate was extortinate

TheHauntedPencilCase · 19/02/2023 17:55

blueyislife1 · 19/02/2023 17:08

It's the screen. So it will go off, freeze, change things e.g go into settings etc. it doesn't always fix by turning on and off either.

A right pain when you're trying to follow a satnav!

Show quote history

I'd steer clear of VW for this reason. I've had 2 go and they're ££ to replace.

OntarioBagnet · 19/02/2023 17:57

Plenty of 20 plate Kugas for under £300 a month as well.

Mummyof287 · 19/02/2023 17:57

Jedsnewstar · 19/02/2023 15:00

You can’t afford what you want. Keep the 3 year old car.

This...why do you 'need' to trade in a 2018 plate car?! And there's other options other than SUV's (not as fashionable maybe, but probably cheaper) for kids and dogs....eg: MPVs or Estates.

Original poster
blueyislife1 · 19/02/2023 17:58

@Mummyof287 read the posts!!!!!!!!!!!!!!

It's coming to the end of the agreement. We have to do the final payment or trade in

OP posts:
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