Buying a Use
How much a used car will cost you will ultimately depend on what car you get. Yet there are plenty of ways you can reduce the final bill.
1. Year old cars are MUCH cheaper than new cars The average new car has a list price of around £28,500. But by the time it’s one year old with 10,000 miles on the clock it costs just £21,000 – a reduction of more than 27% in the first 12 months. In the second year the depreciation rate is likely to slow by roughly half (so the second year, this average car would lose around
£3,750 in value). So picking a year-old model will dramatically slash the upfront cost. There are exceptions if you’re picking a plush model. Brands that hold their value best tend to include Mercedes and Porsche - so you won’t see too many year old luxury car bargains out there. 2. Revealed: The cheapest cars to run To save you time and energy trying to work this out, car experts have already done this research. You can compare running costs of different
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models, including the ones you’re looking to buy, on several sites, including Parkers and What Car?. But, follow these rules to home in on the cheapest cars:
• Smaller engines can be cheaper. The choice of a 1.0-litre or a 2.0-litre engine isn’t just about pure horsepower. A large engine will usually burn more fuel than a smaller one. So engine size is a vital consideration if fuel economy is an important factor in your decision. Of course, this depends on how you use the car. A small engine is most
efficient when it’s used as intended, such as to pootle around town. If a small engine is used a high speed, it’ll need to work much harder to keep the car moving - burning more fuel. • Petrol cars tend to be cheaper than diesel. Diesel engines are often more economical than their petrol counterparts. But don’t be fooled into thinking this definitely makes diesel a better option. These cars are more expensive, and they usually cost more at the pump than petrol. • Manual cars are cheaper than automatic. Switching between gears is extra work - particularly to those
