If you are considering buying a car in the near future you can guarantee one thing, it will be an expensive purchase, whether this is immediately or over the course of the ownership of the car will usually depend on whether you buy a new or used car. Both have their advantage and disadvantage.
Buying A New Car
Buying a new car is probably the safest option when it comes to paying for repairs as you will usually get a deal that includes MOT, service and repair. Cars also have an average amount of mileage before they start to show signs of ware, this is usually between 44,000 and 52,000 miles depending on which make of vehicle you have purchased.
With this is mind it is obviously a massive advantage that a new car has low mileage.
The main disadvantage with buying a new car is although the initial outlay will not be as high as if you were purchasing a vehicle outright with a number of finance deals available that can spread the cost over a number of years, the length of the finance deal will be around three to five years and the overall cost much higher. The car will also lose considerable value as soon as you drive it off the forecourt.
Buying A Used Car
If you decide to buy a used car you will not have to pay out anywhere near the amount of money you will be paying for a new car. However, you need to consider how much money you will spend on the car over a three year period. According to ‘Which’ the average cost of repair can vary depending on which vehicle you drive, this obviously is due to the cost of the parts you want to replace (maybe something to consider when buying a used vehicle). A Nissan Micra is estimated to cost you £300-£400 after 44,000 miles whilst more luxury brands can cost up to £700.
You need to take into consideration that tyres become worn on a vehicle and can cost on average £120 to repair. You may also want to consider break pads and other parts of the vehcile. Get a car that has had a recent MOT and Service to make sure you are not going to have any nasty suprises. When you buy your vehicle make sure you top up the oil or even change the oil filter and this will help to maintain the mechanics of the vehicle.
Guest Post by Daisy Burgess – Automotive ethusiast specialising in vehicle production including the use of fibreglass mouldings within the automotive industry