As are thousands of others, which is why PCP/contract hire has become so popular. The vast majority of what you’re paying is for depreciation. Of course you’ll suffer less depreciation on a secondhand car but having a branny is nice. Feel-good factor, new car smell, good warranty, no MoT’s.
PCP's are like fixed mortgages. Expensive but a known and predictable cost. A lot of folk don't have either the few grand to put down or the monthly headroom in the budget, but if you do it's sort of worth it for worry free motoring in a decent car that's young enough to be nice and not have issues. I'm a tight **** so drove <£500 cars on a wing and a prayer for years, and even since I've earned a decent wage just bought sub £3k 5-10 yr old things with FSH and hoped for the best. I've had good luck and bad. What I would say is sellers on autotrader are just as aware of book price as buyers, and if something seems to be going for a grand or two less than it's worth there is probably an expensive underlying issue or it's not as described.
Cost effective motoring if you fall good and as you rightly say apply damage limitation with a full (documented) history an hpi check and good to go. As a general rule cars are a lot better built than they used to be and if you can pull 3 years for a grand a year that's damn good value at a score a week. Horses for courses though and each to their own. A brand new one will smash the wallet for depreciation in it's early years but not if you keep it to the death. A 12k car over 12 years ownership carries the same score a week but safe to the knowledge that you know its background and istory.
I remember my dad buying one of BL's finest, a Triumph Toledo new in 1973 (about £400 I think). Underseal up to the sills on day one but it was always breaking down and scrapped 4 years later due to rust underneath. Proper BL 'Friday afternoon job' He drove second hand Ladas after that and the tight-fistedness has rubbed off on me!
Sun shining, green grass and your whole life ahead - happy days mate.Just finished tickling this photo back to life only an hour a go. It's still wet so be careful.
Our Ford Anglia circa 63 with a Rochdale DK plate modeled to perfection by me and our kid.
Just look at them gas lit caravans : )
Dont trust him.