Sponsored by Continental Cars
Changes in the new car market mean buying a car brand-new can sometimes be a better investment than buying second-hand. Brenda Ward spoke to sales executives at Continental Cars Volkswagen and Porsche, and explains the reasons.
Price: New cars are cheaper than they were, compared to incomes. Over the past couple of years, new car prices have dropped, meaning the price of an older second-hand car could instead be the deposit on a brand-new model, with monthly payments spread over a number of years.
Technology: New cars are safer, have more airbags, and many have systems like automatic braking, warnings for following distance and blind spot alerts. Many new cars also have rear-vision cameras for easier parking. Some can even park themselves. Buy the technology now, because the longer you wait, the more outdated your older car will be.
Quality: Today’s cars benefit from years of testing, making them lighter, but stronger and safer.
Economy: Older gas-guzzlers are things of the past. With fuel prices rising, you can save a big part of your car payment in petrol costs.
New car warranties: With older cars, you could be paying big money for repairing gearboxes, motors, and brakes. You can get new car warranties for as long as five years, giving you trouble-free motoring. Then you can pay to renew them for years more worry-free driving.
WoFs: From 1 July 2014, new vehicles need to undergo a Warrant of Fitness test only at first registration, at three years, and then annually. Older vehicles must undergo a WoF test every six months.
Theft-proofing: Many new cars have immobilisers, meaning they’re not as much at risk of being stolen as an older model.
Gizmos: Steering wheel-based music controls and gear buttons, Bluetooth mobile phone connections and Spotify make driving today’s cars a more pleasurable experience.
Finance deals: Dealerships are more flexible on payment options than they used to be, meaning that paying off your new car could now be within reach.
Registration fees: Newer cars have more modern safety features, so they pay less in registration fees than older models which don’t have such a great safety record.
Bespoke details: Buy your car new and you can personalise it with features to your own liking: Cruise control? Air-con? Heated seats? Leather?
Emotion: You’ve seen that car launched in the newspaper or on TV, now you own it. There’s nothing like that new-car smell, and knowing you’re the first person to ever have owned your new car.
So, before you automatically go out to buy another second-hand car, it might pay to check out whether your money would be better spent on a new model.
Sponsored by Continental Cars
First published 11 October 2018
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This article provides general information only. The information is not advice and does not have regard to the financial situation or needs of any reader. As individual circumstances differ, you should seek appropriate professional advice.