Should I buy a new car or a used car?
For someone in their late 60s, doing under 10,000 miles per year, would you recommend buying new or used? If I buy new, I'll get a guarantee, and the money I tie up would earn little interest anyway; but I'll suffer steep depreciation and a newly released model may give unforeseen problems. If I buy used, the depreciation will be way less, but reliability would be worse and mechanical costs higher.
Asked on 24 June 2017 by Chris Robinson
Answered by
Honest John
Buy a new car blighted by the fact that the model is about to be replaced. Then you get a proven, reliable car with all the bugs out at a knockdown price. Can be as much as a 30 per cent discount.
Dear Honest John,
Please help me choose my next car. I would like it to have:
Please help me choose my next car. I would like it to have:
Similar questions
I'm looking for a cheap to run car which will be reliable, but over the magic 100,000 mark, as I do plenty of miles and don't want to crucify value. Ideally for about £2500. I do enough miles (12,000 plus)...
I just started a new job in which I'm doing 120 miles a day, mostly motorway, five times a week. What would be the most economical car to commute and what kind of mpg can I get? I can spend around £5000,...
I'm looking to buy a new Ford, and I'm normally a cash buyer, but their Options Cashplan seems like a win-win. I pay no more overall, I pay the balance three years later - when I get the option to keep...

