Should You Buy New Or Used Cars?

The credit crunch has everyone feeling the pinch financially; we're all cutting back on our holidays and going out. Unfortunately, however, transport is still a necessity for many of us, and cars only last for so long when they are being used regularly. Consequently, we tend to need to replace our vehicles every few years, but the question is often asked as to whether we should purchase used cars or a new MINI, BMW or Honda.

As with many things, there is no simple answer. Although there are a great many reliable, attractive and affordable used vehicles on the market, few pleasures in life compare to walking into a dealership and purchasing a new MINI, Lexus or Mercedes, and this is also a way of helping to ensure that your investment lasts longer.

Although a new car will last longer than a used model, simply because it isn't as old, it is worth taking into account that a new MINI, Toyota or Honda will often be much more expensive to purchase than a used model. Cars are one of the fasted depreciating items that you can purchase and this is reflected in their worth when they are sold; the instant they have been driven out of the showroom, you have lost money on them.

Of course, that's not to say that there's never a reason to purchase a new car. Although we are all tightening our belts thanks to the recession, a new car will most likely be more reliable than a used model, which will save you money on services and every year, new models are released which boast vastly improved fuel efficiency and other improvements to help you minimise your outgoings once you have bought your car. Indeed, many vehicles from the new MINI and BMW ranges boast the highly praised EfficientDynamics system, which provides a range of functions in the car which saves greatly on fuel, including shutting down the engine when your car is stuck in traffic or similar.

Ultimately, whether you opt for a used car or a new MINI, Honda or Nissan, transport is a necessity for many of us, and there are a range of savings to be made. A used vehicle will be cheaper to buy, but will likely require extra servicing and will likely use more fuel, whereas a new purchase will probably be cheaper to run and keep healthy after the purchase, but will be a much larger initial outlay.