There are few things more pleasurable than collecting and driving your brand new car. Just the smell alone is amazing; you would think that they would make a new car smell aftershave. There is also that feeling of pride and achievement; with a new car you are making a statement about yourself and your situation. And of course there is the peace of mind that even if anything went wrong you would be fully covered by a guarantee for some time to come.
New cars are good value for money nowadays. The old days of rip-off Britain are well gone, and new car prices in the UK, although still maybe a little ahead of some countries, are no longer excessive.
However, the big problem with buying new is the rapid devaluation that happens during the first two years of ownership. The amount a new car devalues depends very much on the make and model, but you might be looking at anything up to 50% of the manufacturers recommended price. Of course by getting a good new car deal you can to some extent offset the depreciation; most new car vendors generally can be persuaded to discount the recommended price in order to secure a sale; certainly it is always worth a go.
The rate of depreciation falls off after the second year, so if you intend to keep the car for several years, then depreciation is not such a hard hit to take. The longer you keep the car, the smaller the inflation will be as a percentage of the car’s current value.
If the initial depreciation is putting you off buying a new car, then why not consider buying a nearly new or pre-registered car. Often you can find cars which have done very few miles at a much lower price than a new model. If you are lucky they will be new enough to retain that special smell of a new car and as guarantees are transferable to a new owner, you will still have that peace of mind that you are covered should anything go wrong.
If you want to view some used cars visit motors.co.uk.
