Overhaulin'

I have just passed my driving test, is it better to buy a cheap used car or get a newer car on finance?

Public Comments

1. Get a reliable used car in good condition. You have to weigh the pros and cons. If you think there wold be more in repairs than the costs of financing, go for the newer car. New cars are a waste of money.
2. Depends how much money you have. Insurance will cost a lot of money especially on a new car as you will not have any no claims bonus
3. A cheap used car definitely as if you get one on finance and i'm not saying you will crash it but if you do then you still have to pay all the finance off and you may not be able to afford another car.
4. I'm with Maxmom - I have never ever had a car on finance. And the insurance will kill you. Get a decent 5/6 years old car, get it RAC or AA checked and learn how to maintain it yourself as much as possible.
5. For your first car, start with a used car. The newer the car, the higher the insurance premium, and especially for young drivers, that could be the difference between driving and not driving at all! New cars have their place in the world, but generally, not for kids just starting out. There will be the credit management issue, for one thing, and just the overall higher immediate cost (in other words, higher monthly payment + higher insurance; risk of repairs for an older car really aren't that easily predictable, so don't freak out about that).
6. I personally would get a low insurance car, say a Ford KA, the insurance on a newer car will be quite high and someone could run into you, so a used car will work out better for at least a year, then you can show off with a newer motor :)
7. GO on line, and find out which is the cheapest small car insurance first, then get the best used car you can afford.
8. depnds on how much cash you have. Probably better getting a good used car with low millage and small engine 1 litre to 1.4 for the insurance.
9. Like a lot of the others here, I'm with MaxMom. On your first car, expect high insurance payments (especially if you're under 25). This goes up dramatically if you have a new car. I'm generally in favor of used cars because the depreciation of new cars is a big waste. A new car today will lose thousands in value in only a few months. If you want the best price, save yourself some time by going to dealer websites and calling ahead for a bottom-line offer for specific cars. Do this with a few dealers and only visit the ones who give you their best price without hassling you. It's like having the dealers compete for you. This is something that Mojo Motors does but is only available in New England. Congrats on getting the license and good luck in your search!