StephenFord

Is a new Focus worth a whole year's salary?

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29 minutes ago, StephenFord said:

That is also freaky, another neighbour had one in which I had a drive in. It all went well till I tried to get out of the darn thing and fell promptly on my *****, that sill must be 2ft wide LOL

I did 65,000 miles in mine over 14 years (it was my daily for 9 years). You get used to it :laughing:

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Never bought brand new but our last Two Focus MK4 and MK3 were both purchased roughly 6 months old. Dont do finance either as were both old school (If you cant afford it. Then dont buy it). Tend to keep them around 3 to 4 years. 

The figures IIRC worked out at around £120 a month for what we paid for the Mk3 which was 6 months old with 3k on the clock.

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I can see why people go for PCP. You can quite often get 0% apr, have all the shiny new features, don’t have to worry about repair costs or MOTs. It kind of feels like cars are becoming more like a subscription service or mobile phones these days. 
 

I don’t think I’d ever go for it though. For me it doesn’t represent enough value. And i’d rather own a car after i’d been paying x amount a month for it. 

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It is interesting that noone ever says - if you can't afford to pay for a house don't buy it.  We pretty much all have mortgages and it's a normal thing.

A car is the second largest purchase you will make.  Why not make that more of a subscription?  A set amount per month, no unexpected bills.

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It is interesting that noone ever says - if you can't afford to pay for a house don't buy it.  We pretty much all have mortgages and it's a normal thing.
A car is the second largest purchase you will make.  Why not make that more of a subscription?  A set amount per month, no unexpected bills.


I guess very few people can afford to buy a house outright. With cars most people could probably find something within their budget. Finance allows you to have the security of no unexpected bills and also a much nicer car, but it does come at a cost, even if the monthly payments seem much more palatable. As with everything, people need to make their own decisions about what the can afford (houses and cars). Another thing to consider is that some people are willing to spend more on things they like. The most important thing is to manage your finances properly in both the long and short term.

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19 hours ago, StephenFord said:

On another thread it just struck me that a brand new focus is now easily the cost of a full years 'average' salary. (I personally have been out of the 'new' car market for over 25 years having seen the effect of depreciation, and enjoying the thrill of buying 'above my means' by getting used).

I was just curious when people go into that shiny showroom, and get palpitations at ticking the options box, have they ever considered a used car, or for them is it a no brainer and of course they just get a new car?

 

Ive got a brand new fiesta. The reason I got brand new was because i wanted the st line x 140. The used cars that I could find for these (with not too many miles and in great condition)were around £13000 - £16000. I bought new because i buy on finance and prefer HP on used cars, but prefer PCP on new cars. It was a lot cheaper for me to get a new fiesta on PCP, and get the warranty with it, as well as not having to MOT it for 3 years. To me it just made more financial sense. I also do around 15000 miles a year, so it made sense for me to get new as hopefully less problems.

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It was a lot cheaper for me to get a new fiesta on PCP, and get the warranty with it, as well as not having to MOT it for 3 years.

Cheaper than what?



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3 minutes ago, TimST2 said:


 


Cheaper than what?



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It was cheaper than getting a used Fiesta St Line X 140, because finance on a used car is set at a much higher interest rate, which made the monthly payments about £50 - £100 more than what I am paying for my new one.

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It was cheaper than getting a used Fiesta St Line X 140, because finance on a used car is set at a much higher interest rate, which made the monthly payments about £50 - £100 more than what I am paying for my new one.
Gotcha.

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Everyone's situation is different. I would never buy new as I like to see what I am buying. I always pay cash for Ford direct cars at six months old and keep them for ten years and the only thing I have to pay for other than servicing is tyres, I find that these days batteries and exhausts last ten years and the car is still good when I trade it in with approx. 72000 miles on the clock.

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1 hour ago, TimST2 said:

I guess very few people can afford to buy a house outright. With cars most people could probably find something within their budget.

 

I'm not sure this is true tbh.  Most 'younger' people don't have savings nowadays, but they can afford say ~£150 a month out of their income.  So the choice is either spend that on a new car for 3 years with peace of mind that it'll always get them to work and get the kids about safely, with all the latest tech, safety features and lower running costs.  OR wait without a car for 3 years (impossible in todays society, the world is built around the car!) and then buying a used car around 7 years old that's already full of problems for £5.5k, with old tech and higher running costs...

Of course the problem with doing this is the same as renting a property, once you start it's very difficult to build up any savings while you're spending them on rent or finance, making it extremely hard to break the cycle and move on to buying outright or mortgaging instead...

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11 minutes ago, TomsFocus said:

Of course the problem with doing this is the same as renting a property, once you start it's very difficult to build up any savings while you're spending them on rent or finance, making it extremely hard to break the cycle and move on to buying outright or mortgaging instead...

This is the issue isn't it.

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5 hours ago, Matthew McGuinness said:

It was cheaper than getting a used Fiesta St Line X 140, because finance on a used car is set at a much higher interest rate, which made the monthly payments about £50 - £100 more than what I am paying for my new one.

I second that

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I just worked out what I spent on my car in the last year.

  1. MOT £37
  2. 2 x tyres £80
  3. Repair of heater Matrix £180
  4. Repair of AirCon £160

Total = £457, which is £38/month

(Insurance/tax excluded)

Next year it may be cheaper as I'm hoping the above repairs will last, of course, something else may need attention, may even get it a service!

Of course, my car is a 2005 model, but rust free, great condition in & out, and very reliable, and everything works. Even the wind up rear windows LOL. It doesn't have all the bells & whistles of a new car, but that probably adds to the reliability.

It's great for those that have the budget and can splash out on your dreams, but motoring doesn't have to be expensive if you choose.

523931134_FordFocusLX2005.thumb.jpg.7fbdb8e7ac6ac6c597301d07aabe8f35.jpg

 

 

 

 

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On 11/13/2019 at 2:56 PM, DaveT70 said:

You wouldn't "drop" a years salary on a new Focus because:

1: You never pay for a new car in cash, unless you're daft

2: Finance gives you marketing support (deposit allowances etc) so you end up with about 30-40% off (if you know what you're doing)

3: At the end of the agreement you can have another new one for less per month sometimes

4: The £10,000 used car could've been on it's roof

I never look at the list price or even final purchase price when I buy a new car, just the monthly payment

 

You make it sound as if the finance company and the dealership which gets a cut from them dont make any money at all. You are looking at the monthly outgoing and paying them 

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3 hours ago, StephenFord said:

I just worked out what I spent on my car in the last year.

  1. MOT £37
  2. 2 x tyres £80
  3. Repair of heater Matrix £180
  4. Repair of AirCon £160

Total = £457, which is £38/month

(Insurance/tax excluded)

Next year it may be cheaper as I'm hoping the above repairs will last, of course, something else may need attention, may even get it a service!

Of course, my car is a 2005 model, but rust free, great condition in & out, and very reliable, and everything works. Even the wind up rear windows LOL. It doesn't have all the bells & whistles of a new car, but that probably adds to the reliability.

It's great for those that have the budget and can splash out on your dreams, but motoring doesn't have to be expensive if you choose.

523931134_FordFocusLX2005.thumb.jpg.7fbdb8e7ac6ac6c597301d07aabe8f35.jpg

 

 

 

 

There’s certainly a case for a car like that, mine was basically perfect until it threw the £800 bill for the heater to be fixed. On a new car that would be done under warranty, I don’t have to worry about servicing as I have a free service plan and no MOT either. Both instances make sense for different reasons imo.

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4 hours ago, StephenFord said:

I just worked out what I spent on my car in the last year.

  1. MOT £37
  2. 2 x tyres £80
  3. Repair of heater Matrix £180
  4. Repair of AirCon £160

Total = £457, which is £38/month

(Insurance/tax excluded)

Next year it may be cheaper as I'm hoping the above repairs will last, of course, something else may need attention, may even get it a service!

Of course, my car is a 2005 model, but rust free, great condition in & out, and very reliable, and everything works. Even the wind up rear windows LOL. It doesn't have all the bells & whistles of a new car, but that probably adds to the reliability.

It's great for those that have the budget and can splash out on your dreams, but motoring doesn't have to be expensive if you choose.

523931134_FordFocusLX2005.thumb.jpg.7fbdb8e7ac6ac6c597301d07aabe8f35.jpg

 

 

 

 

If you're just counting repairs, I've spent £2.50 on a wiper blade, £40 on a tyre and £28 on an MOT.  That's £4.70 a month... :tongue: Tax only £30 the year, and around 55mpg average makes it 11p per mile on fuel...probably half of your petrol spend...

BUT I had a similar aged Focus last year...same tax and fuel cost...but much much more in repairs and depreciation.  

At least with a finance deal you know the price...with used cars it's all down to luck.  Honestly who would've thought a 100k Golf was much cheaper to run than a 50k Focus?  I certainly didn't...

 

 

 

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Ferzackly.

 

And I'm saving the planet as I am more conscious of the miles on the car.

😀

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2 hours ago, D1998! said:

If we didn’t all buy new cars, then there would be a shortage of second hand cars and they would be more expensive and difficult to find.

God bless you Sir, indeed, and please take care of it and load it up with all the options you can, because in 10 years, I'll be after it! LOL 🤣

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43 minutes ago, StephenFord said:

God bless you Sir, indeed, and please take care of it and load it up with all the options you can, because in 10 years, I'll be after it! LOL 🤣

Perhaps exported to Ireland before ten years have passed; 

If the uk gets flooded like it did back in 2012 I think It were; insurance paid out for the water damage then the vehicles were exported to Ireland as Quality used cars to be given new registration win/win

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