By Matthew Pressman
Buy a brand new car and you'll find that as soon as you drive it off the forecourt it is instantly devalued. Even slightly used cars that have only a few thousand miles, or even less, on the clock sell for significantly less than a shiny new motor, and a car only a year old will be cheaper still.
Whether you want to buy a new, nearly-new or used car, there are certain times of year where buying can achieve the best possible deal in terms of price and re-sale value. If you are tempted to opt for a brand new car, now is the time to buy. Generally speaking cars registered between March and September are worth £300 more than cars bought between October and February, according to Glass' Guide. You can also negotiate better discounts during this period.
But, if new doesn't appeal and you are convinced that buying a used car is the way forward, then now is also the ideal time to buy. Traditionally, during the six months from the beginning of March, it has always been the best time to buy a used car as it is typically a buyers' market due to the introduction of a newer registration marquee; many 'nearly new' car owners typically trade in their old cars around this time in order to have the latest marquee available.
Whether you opt for new or used, make sure you do all you can to protect the value of your new purchase by making intelligent choices throughout the purchase process. Buying that pink car may seem like a good idea at the time, but think long and hard about how easy it would be to sell on later. Silver cars are far more likely to appeal to the wider used car buying public, and are therefore easier to sell. Of course, you may get lucky and find someone that absolutely has to have a pink, second hand motor and is willing to pay over the odds for the privilege, but the odds are stacked against it.
Also important in the purchasing process is the type of vehicle; certain makes and models depreciate faster than others. As a general rule premium motors, for example Volkswagens, depreciate by a smaller percentage than 'value' cars such as Protons, but like all elements of buying a used car, do your research before you part with your cash.
Also, if you are not buying with cash, it is important to make sure you get the right used car finance package; the sort where you don't pay wildly over the odds. At least that way you will not negate any hard-won discount from the salesman by paying it back in excessive interest payments to his financier. Remember to shop around rather than opting for the first deal offered and you'll have less chance of losing out. Good luck!
Matthew Pressman is a freelance writer and frequent flyer. When not travelling, he enjoys golf and fishing.
Buy a brand new car and you'll find that as soon as you drive it off the forecourt it is instantly devalued. Even slightly used cars that have only a few thousand miles, or even less, on the clock sell for significantly less than a shiny new motor, and a car only a year old will be cheaper still.
Whether you want to buy a new, nearly-new or used car, there are certain times of year where buying can achieve the best possible deal in terms of price and re-sale value. If you are tempted to opt for a brand new car, now is the time to buy. Generally speaking cars registered between March and September are worth £300 more than cars bought between October and February, according to Glass' Guide. You can also negotiate better discounts during this period.
But, if new doesn't appeal and you are convinced that buying a used car is the way forward, then now is also the ideal time to buy. Traditionally, during the six months from the beginning of March, it has always been the best time to buy a used car as it is typically a buyers' market due to the introduction of a newer registration marquee; many 'nearly new' car owners typically trade in their old cars around this time in order to have the latest marquee available.
Whether you opt for new or used, make sure you do all you can to protect the value of your new purchase by making intelligent choices throughout the purchase process. Buying that pink car may seem like a good idea at the time, but think long and hard about how easy it would be to sell on later. Silver cars are far more likely to appeal to the wider used car buying public, and are therefore easier to sell. Of course, you may get lucky and find someone that absolutely has to have a pink, second hand motor and is willing to pay over the odds for the privilege, but the odds are stacked against it.
Also important in the purchasing process is the type of vehicle; certain makes and models depreciate faster than others. As a general rule premium motors, for example Volkswagens, depreciate by a smaller percentage than 'value' cars such as Protons, but like all elements of buying a used car, do your research before you part with your cash.
Also, if you are not buying with cash, it is important to make sure you get the right used car finance package; the sort where you don't pay wildly over the odds. At least that way you will not negate any hard-won discount from the salesman by paying it back in excessive interest payments to his financier. Remember to shop around rather than opting for the first deal offered and you'll have less chance of losing out. Good luck!
Matthew Pressman is a freelance writer and frequent flyer. When not travelling, he enjoys golf and fishing.
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