Why do people fail to realise they can have more for less...

[Thin White Duke]

...when buying a car?

I like many fellow Piston Headers drive a second hand luxury car as my main car. (Jag XJ8)

I often receive many compliments on how nice it looks and also how expensive it looks.

My main point is this, why do people who spend say £16000 on a Ford, Citroen, Vauxhall (Nothing wrong with
these by the way) say to me "how can you afford a car like that?" "I wish I was on your money." You get the
picture.

My car was bought for five grand, a third of what some of these people paid for their motors.

I know that people may want piece of mind with a warranty, newness, lower tax, better economy and the like,
but if they'd listen and spend five grand on something like a second hand Jag, Merc etc they would have several
thousand left over to deal with those issues. Then at the end of the day they'd be driving around in something
a little special for little money.

What are your thoughts?

[rottie102]

It looks like you're new here

Too summarise - where would you get your XK8 for 5k from if somebody wouldn't buy it new in first place? Just let them get on with it and then us, money-wise folk will have more cars to choose from.

[loose cannon]

think you will find it's the fuel bill m8ty not everyone has money in the bank to put in the tank.
and to most. a car is just for shopping and the daily grind so hence the no interest in anything flash,

[Piersman2]

I think you're preaching to the converted

2007 XJR and 2000 RR 4.6 Vogue in my drive.

XJR was pricey for me at £20K when I bought it 6 months ago, but still a third or less than a new one and what can you buy new for £20K? Not a lot.

Rangie was only £2.5K, bargain

But then I'm happy to pay the occasional big bill and faff around with MOT's etc...

[retreat]

Peace of mind?

Nice to have warranty etc especially if you've been let down once or twice by your older motor...
Cold wet night, want to get home and the starter motor goes...

[RV8]

People who fail to see these things probably don't save up five grand let alone twelve so they wouldn't have several grand left over if they spent five grand on a jag - they would be minus five grand. They have probably spent the twelve grand on a new car by using a loan or finance and only see the £200+ a month. Hence you are cash rich in comparison.

[Thin White Duke]

RV8 said:

People who fail to see these things probably don't save up five grand let alone twelve so they wouldn't have several grand left over if they spent five grand on a jag - they would be minus five grand. They have probably spent the twelve grand on a new car by using a loan or finance and only see the £200+ a month. Hence you are cash rich in comparison.

Indeed, I sometimes forget about finance - as I don't use it for cars - I prefer to save up and purchase.

[Thin White Duke]

Piersman2 said:

I think you're preaching to the converted

2007 XJR and 2000 RR 4.6 Vogue in my drive.

XJR was pricey for me at £20K when I bought it 6 months ago, but still a third or less than a new one and what can you buy new for £20K? Not a lot.

Rangie was only £2.5K, bargain

But then I'm happy to pay the occasional big bill and faff around with MOT's etc...

But still... a three year old Jag for 20K, not bad. Someones paid alot in depreciation for it.

[Heathwood]

I've often pondered this too.

Generally, most people buy a car as a tool. They are not car enthusiasts. They want a car less than a certain age / mileage, that doesn't cost a fortune to run and won't go wrong. Few people looking to spend £10k on such a car would not even entertain the idea of spending half that amount on something interesting and retaining the other half for maintenance and fuel.

Also, people like something to show for their money. By this I mean that nobody likes paying for stuff like repairs, servicing, fuel etc. Of course, for most people, this is countered by depreciation. However, I think most people view depreciation as just the extra you need to pay for something newer / better. This is even more the case with finance arrangements, whereby the customer just continues to pay a similar amount each month but gets a newer / better car. They don't care that they've just entered into another 3/4 year deal.

[Willy Nilly]

Thin White Duke said:

...when buying a car?

I like many fellow Piston Headers drive a second hand luxury car as my main car. (Jag XJ8)

I often receive many compliments on how nice it looks and also how expensive it looks.

My main point is this, why do people who spend say £16000 on a Ford, Citroen, Vauxhall (Nothing wrong with
these by the way) say to me "how can you afford a car like that?" "I wish I was on your money." You get the
picture.

My car was bought for five grand, a third of what some of these people paid for their motors.

I know that people may want piece of mind with a warranty, newness, lower tax, better economy and the like,
but if they'd listen and spend five grand on something like a second hand Jag, Merc etc they would have several
thousand left over to deal with those issues.
What are your thoughts?

I bought my car nearly 9 years ago for another 1500 notes on top of what you have paid. I'll wager I have still spent less money than you. Lower tax, cheaper insurance, cheaper maintenance, negligible repairs, possibly half the fuel...

Granted less power and toys, but it has all I need

[Negative Creep]

It has a newer registration plate. People equate newer with better, hence would rather have a 1.6 5 door Astra in Resale Silver due to two numbers on a bit of plastic

[Piersman2]

Thin White Duke said:

Piersman2 said:

I think you're preaching to the converted

2007 XJR and 2000 RR 4.6 Vogue in my drive.

XJR was pricey for me at £20K when I bought it 6 months ago, but still a third or less than a new one and what can you buy new for £20K? Not a lot.

Rangie was only £2.5K, bargain

But then I'm happy to pay the occasional big bill and faff around with MOT's etc...

But still... a three year old Jag for 20K, not bad. Someones paid alot in depreciation for it.

Indeed. I did once buy a new car, a Boxster S. Sold it 2.5 years later. Lost £14K in depreciation alone. Never again.

To be honest, at these ages and these mileages (42K on the jag when I bought it) these big cars still feel and smell new!!!

[Thin White Duke]

I actually do know someone who bought a new car outright ie not on finance for £15000.

I went on to an online depreciation calculator and found out he had lost £6000 in 12 months!

[kambites]

I don't know why they do it, but I'm glad they do.

[Acheron]

I've bought a few second hand expensive, nearly new cars. Its an alternative for someone who cant buy a new car but wants a car with no miles on. I bought a Vectra for 12k with 3500 miles on the clock and it was great. It was essentially a brand new car.

I see your point, but for me, the biggest fools are those who go out and buy something that is brand spanking new.

Saying that, i now drive a 6 year old st220 and have a 10 year old vectra in pieces in the garage.

[SubaruSteve]

I am currently enjoying my latest purchase which owes me less than 1% (yes 1%) of its original price, including the cost of putting it through an MOT.

Stick that in your depreciation calculator!

</smug>

[gf15]

Normally I would agree with you, but as it was 0700 this morning,and I was putting over £100 of motion lotion into the car for the second time this week, a little economical motor was looking like a good idea.



But then I snapped out of it and started thinking that I really should get a V12 before they are outlawed!

[morgrp]

Piersman2 said:

I think you're preaching to the converted

2007 XJR and 2000 RR 4.6 Vogue in my drive.

XJR was pricey for me at £20K when I bought it 6 months ago, but still a third or less than a new one and what can you buy new for £20K? Not a lot.

Rangie was only £2.5K, bargain

But then I'm happy to pay the occasional big bill and faff around with MOT's etc...

Occasional big bill? that'll be every time you go to the petrol station then? ;-)

[redstu]

gf15 said:

......... I really should get a V12 before they are outlawed!

agree entirely!

[busta]

Because anything outside of warranty is an unreliable rot heap, has the crappy old style headlights and those crude un-damped hand-holds. OMG.