Should I buy a new car or a used car?

For someone in their late 60s, doing under 10,000 miles per year, would you recommend buying new or used? If I buy new, I'll get a guarantee, and the money I tie up would earn little interest anyway; but I'll suffer steep depreciation and a newly released model may give unforeseen problems. If I buy used, the depreciation will be way less, but reliability would be worse and mechanical costs higher.

Asked on 25 June 2017 by Chris Robinson

Answered by Honest John
Buy a new car blighted by the fact that the model is about to be replaced. Then you get a proven, reliable car with all the bugs out at a knockdown price. Can be as much as a 30 per cent discount.
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