Buying a new car vs buying a used car
Apr 21st, 2007 by Martin
The age old debate has made it onto my blog. Should I buy a new car? Or buy a used one? I must admit I would never even think of buying a new car unless I had loads of money, or I wanted to show my brand new motor to the lads in the pub.
The thing is a new car costs a lot of money but the exact same car 6 months to a year old will have lost a lot of its value and still have over 2 years left on the guarantee. This is one of the reasons I can’t understand buying a new car. It also annoys me how people don’t look around the car market to see what they can get for the same amount of money. The car might be older but be faster and have a better spec. For example you could buy a brand new Ford Mondeo for 20k, however for less than that why not buy a Lotus Elise for 15k but a couple years older, or even a BMW 523i for 10k and have 10k left over. If you have to buy the car on finance, which more than likely you will as it costs so much to buy a car, payments will be lower and you will have a better spec, nicer car. So don’t buy a new car buy a used sports car instead!