Back on the road at last so is it time to snap up that shiny new car?
MY NEIGHBOUR’S Honda hasn’t turned a wheel for five months and, as I write this, other cars parked in the close where I live have also been out of use for the best part of half a year. Cars don’t like not being used for long periods. Oil drains away from the cylinder bores, clutches sometimes stick and won’t disengage when the pedal is pressed and tyres lose pressure and tend to develop flats as a result of having the weight of the car on the same part of the tread for a long time.
All this might make you feel like buying a new car. And the attractive prices available now might add to that appeal.
The gradual lifting of lockdown and recovery of the car markets have brought tempting opportunities, but is it better to wait until real normality returns?
If you do want a new car right now, you should examine your prospective purchase carefully for signs that it has weathered the past months well — no corrosion or faded paintwork or upholstery. Also, take the car for a good test run and, while you’re doing this, check f or a ny vibration that might suggest a new set of tyres will be needed.
So — should we buy a new car now, or wait? The answer has to be “proceed with caution”. There are substantial savings to be snapped up, with Mitsubishi knocking £4,000 off its PHEV (plug-in hybrid electric) Outlander — and even Audi is cutting prices, though this may not apply to the new A3 saloon launched in April.
How to pay is the next dilemma, and when buying from a dealer, outright cash payment might not be the most beneficial way, because there are benefits for the dealer in arranging purchase terms.
Personal contract purchase (PCP) appears to have overtaken traditional hire purchase as the most popular way to buy, because the monthly payments are lower; but beware of the conditions, one being that you may not own the car when the contract ends.
Study the contract before signing. With coronavirus hitting the economy hard, what will happen if you lose your job and you find you cannot keep up the payments? Will this incur severe cost penalties?
Another common condition is a mileage limit that must not be exceeded by the time the contract is due to end after three or four years. Extra mileage can bring additional cost.
In the used car market there are also bargains waiting to be snapped up, but again, it pays to be thorough in your pre-purchase checking.
Make sure the vendor really does own the car and that it is not subject to any hire purchase or other finance contract — and be ready to walk away if a reasonable offer is declined.
Petrol or diesel is the other dilemma to be faced.
The Government’s sudden change from encouraging diesels to favouring petrol or electric vehicles has brought a slump in diesel demand, but diesel vehicles do still bring some financial savings.
As well as the reduced fuel consumption, diesels require less maintenance and have fewer things to go wrong.
Annual car tax is weighted against diesels — but this still does not eliminate the savings.
The future is turning electric ( see page 89), with even Bentley ending production of its V8 engine after 60 years of production and a hybrid electric is offered as the first stage of future electrification of its entire range.
But the faithful combustion engine has many years yet to serve.