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Consumers advised to buy new instead of used

Consumer magazine WhatCar? is advising its readers to buy a new car instead of a one-year old version of the same model due to competitive finance and low interest rates.

The magazine’s own analysis shows buying a new car is cheaper than a used in 29% of cases.

Jim Holder, What Car?’s editorial director, said customers “shouldn’t always assume a used car will automatically offer them the best value for money”.

What Car?’s research was based upon new car deals using standard Hire Purchase agreement or a Personal Contract Purchase (PCP), where an initial deposit is required along with set monthly payments for an agreed amount of time.

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  • sgtheosia - 17/11/2015 05:06

    This is a very arbitrary thing, considering that there are 1-year old cars that are being sold much much cheaper than their brand new counterparts. A lot of people know this that's why still, a lot are opting to buy used ones rather than new. I, myself, am always looking at new cars. I mean, who doesn't? But before I decide, I always look for secondhand alternatives and check if I can get something for cheap or not. But of course, if it's cheap, it's rather intriguing isn't it? What I do is I always check the car's history first -- Once I've got myself a report, I then decide whether a used car is something wise or should I just go the financed route and buy a new one. Hope this helped! :)