New versus Secondhand

[KiwiTT]

Not sure how many agree with me, but I have always thought buying secondhand is more cost-effective than a new car.

"2nd Hand car + modification" is better than "new car - depreciation + modification"

e.g.
10,000 2nd Hand car
5,000 Depreciation INSERT INTO post VALUES (5 years)
10,000 Maintenance INSERT INTO post VALUES (5 years)
10,000 Modifications

Value = 10,000 - 5,000 - 10,000 + 10,000 = 5,000

is better than

30,000 new car
20,000 depreciation INSERT INTO post VALUES (5 years)
5,000 maintenance INSERT INTO post VALUES (5 years)INSERT INTO post VALUES (cheaper because it is new)
10,000 modifications

Value 30,000 - 20,000 - 5,000 + 10,000 = 15,000

Is a 15,000 value modified new car, "3 times" better value than a 5,000 value modified car ?

[Kieran]

Not too sure of the figures:); but I agree...

I've got to, If I want that dream VR-4:D

[ReggieK]

Can't ever see myself buying brand new. No real value in my opinion.

I suppose the ideal buy would be a car from a main dealer just still in its warranty, say at 2.5 years old. They'll be happy to extend warranty and it won't cost the earth, you should be able to run it for year and a half and sell with minimal depreciation.

Brand new VR4 £30k, three years old £10k <---- That's where I'm at. Just outside warranty which is a bugger, but hey it was worth £30k brand new!!! :cool1: