*Car Buying: New vs Used

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If you’ve been following my blog or social media then you’ll have seen that we’ve been in the process of looking at new and used cars to buy which will be replacing my beloved Renault Clio (the car I first learned to drive in so I feel like it might be more normal to be sad to see it go). The whole process of choosing not just what make or model to opt for but also whether to choose a brand new car or a used car has been very stressful!

Depreciation 

There are so many points to consider when you’re looking for a car, whether it is new, used or a classic. There are positives and negatives for both a new and used car and one main negative that we were thinking about is the depreciation when it comes to a new car. New cars lose their value very quickly which for some might be a deal breaker and it was for us too. Compared to used and typically cheaper cars, newer options are a big investment!

Initial Cost 

Along with the condition of the car, one of the first things to consider is the initial cost of the car which naturally with a new car will be higher compared to a used car, depending on the model. Going back to depreciation, the initial outlay of the car is very high with a newer car and then it loses it’s value and to be honest, this was the main reason we chose a two year old car rather than a brand new model.

Driving History & Milage 

Another point to think about is the driving history! With a new car, you’ll only have the delivery milage and no driving history but a used car, depending on the age and condition, can have a whole array of hidden problems and a checkered history. The age and milage are easy points to check but the way a used car was driven is another matter.

Warranty 

It can be very exciting buying a new car (although I came to hate most of the car salesmen we encountered by the end of it) and there are numerous benefits such as a full warranty which is usually three years. Typically a used car will have a warranty but it will be more along the lines of 12 months after than three years. The used car we bought last month came with a 12 month warranty from Vauxhaul which is beneficial but a newer car does have a better deal in terms of the warranty.

Tax 

As well as the initial cost of the car, there’s also the MPG, insurance and road tax to consider, all of which will differ depending on the make, model, specifications and age of the car. With some newer cars, there’s a set rate of tax but with used or older cars, it might be cheaper; however it may not be the case with all. For example, our fourteen year old Clio had a road tax of £140 and our two year old Astra is only £20.

Insurance 

The final point to consider is insurance and whether you opt for a brand new car straight out of the show room or a used car, Aviva car insurance is a great option to consider. Aviva car insurance covers damage to your brand new vehicle and roadside repairs for your older used car. In the end, it’s up to you and your budget as to whether you want to buy new or used but make sure you look around for the best deal on your car and insurance.

Do you drive? What are your thoughts on new vs used cars?

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