Re: The New Hyundai i10
Posted: January 15th, 2020, 3:21 pm
It's not exactly a racket, but new car prices are strictly for suckers. And for business owners who can get the tax reliefs. And also for the hordes of newly-retireds who decide to cash in the 25% tax free lump sum on their pensions and treat themselves to one last, testosterone-affirming, shiny new car just before their annual mileages drop back dramatically from 15K to 5K.
New cars also get sold to the mechanically inexperienced, whose paranoid memories of 1970s cars with one-year warranties and three-year reliable lifespans still shape their decisions. Whereas in practice your average modern car probably goes six or seven years before it drops a proper bill on you. (And if it's oriental it'll generally come with a five or seven year warranty anyway.) So what's the logic of buying new "just to be on the safe side"?
Your average three year old car can be had from a main dealer for half the original forecourt price, although small cars do seem to retain a premium. My 18 month old Toyota estate (higher spec) was also half the showroom price (i.e. a whisker over £10K), because it had accumulated an unfashionable 30K of motorway miles. Did I care about that? Did I heck. By the time I come to sell it at ten years, it'll have 100K on the clock, just like any other ten year old. And in the meantime, I get to play with all the toys.
Just sayin'.
Hallelujah to that. Not to mention the development niggles.
BJ
New cars also get sold to the mechanically inexperienced, whose paranoid memories of 1970s cars with one-year warranties and three-year reliable lifespans still shape their decisions. Whereas in practice your average modern car probably goes six or seven years before it drops a proper bill on you. (And if it's oriental it'll generally come with a five or seven year warranty anyway.) So what's the logic of buying new "just to be on the safe side"?
Your average three year old car can be had from a main dealer for half the original forecourt price, although small cars do seem to retain a premium. My 18 month old Toyota estate (higher spec) was also half the showroom price (i.e. a whisker over £10K), because it had accumulated an unfashionable 30K of motorway miles. Did I care about that? Did I heck. By the time I come to sell it at ten years, it'll have 100K on the clock, just like any other ten year old. And in the meantime, I get to play with all the toys.
Just sayin'.
I might try and pick one up second hand in 2 or 3 years. let someone else take the deprecation and tax pain first.
Hallelujah to that. Not to mention the development niggles.
BJ