Should I Buy a New or Used Car?

For some people, the concept of buying a second-hand car is something they would never entertain. There's something about driving a brand new car off the garage forecourt and eventually parking it in pride of place on your driveway. With a brand new car, every scratch and scuff is of your own making. Every scratch and scuff will also knock a few quid off the resale price too, and in the current economic climate, you want to get as much as you can when selling or part exchanging it.

Used cars on the other hand are less expensive than brand new cars. For example you could spend around £50,000 on a brand new car, or get the exact same model at only six months to a year old for around £35,000 to £40,000. Looking at the same model but two or more years old and you're looking at getting a real bargain for a vehicle with many more miles left in its life. Of course it'll come with a few scuff marks and scratches here and there, but this is almost unavoidable with used cars.

In light of recent bank bailouts, entire economies collapsing and the prospect of a double dip recession on the horizon, one may not be offered that great finance deal on an expensive brand new car, even if they've been offered it previously. Banks and finance companies are a little more cautious these days regarding their lending, so you may find yourself priced out of the market due to high interest rates. In this case you may find yourself looking at used cars instead of a brand new one.

When buying second-hand not only will you be paying a lot less than you would when buying new, but some new cars have a habit of developing faults with only a handful of miles on the clock. This can be incredibly annoying as one expects a new car to be faultless. Any such 'teething' problems are usually ironed out quickly, however with a second-hand car, it has a service history and it has been driven for a good few thousand miles already, so any teething problems will have already been discovered and rectified.

Obviously you have to take each car on its own merits. One would be foolish to simply assume that a 12 month old car is 'just as good' as a brand new one, as you don't know how it's been driven. Aggressive driving can put a lot of stress on the engine or transmission system, which could mean costly repairs are right around the corner. Whether you buy used or new cars, proceed with caution and find the best car for your needs and one within your budget.

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