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.