Is it worth buying a new car?

Is it worth buying a new car?

Gary Kirwan (Dublin)

Jan 2017 Filed under: finance

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Expert answer

Hi Gary,

Wow. Big question. In general terms, no it's not. In fact, the rule of thumb, to maximise your value for money, is to buy at two years old and sell at five years old. That way you avoid the worst ravages of depreciation and, these days, you often get a good bit of original factory warranty too.

Of course, that doesn't take into account other, occasionally less tangible, factors such as inclusive service plans, the latest technology, improved safety equipment etc.

Buying new can make sense, especially if you make maximum possible use of a PCP scheme, but for the most part, a good used car is almost always better value overall. 

Neil Briscoe - Complete Car Advisor
@neilmbriscoe