Re: Would you buy a new car or a second-hand car?
the depreciation on new cars is phonominal so you can get something next to new for half the price, if that when buying second hand... I mean something really good spec, low mileage/KM. Especially at the moment, because of the "credit crunch" for want of a better word the second hand car market is quite depressed. Buying at auction is a good idea too because you get a better deal and the cars usually don't come from private sellers but company fleets and and franchise companies meaning that they are well serviced and in decent condition.
For example, actually, on thursday, my dad bought himself a car. We have previously had an X-type Jag (03 plate) from new which cost £20k plus, but by buying at auction my dad got a better spec 05 (november) model with only 19,000 miles on the clock (thats less than 125 miles a week) for £7995. Thats basically a next to new car for a 3rd of the price. Bargin. (plus its gorgious). I myself drive an 01 plate Fiesta which we bought at auction.
I will say though. you do have to put in the effort. Its not like shopping at a supermarket. As with anything you get out what you put in, so there is no substitute for studying the market and biding your time. If you impulse purchase or rush it, you wont get a good deal financially (but probably will get one mechanically)
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