Wait a while longer before purchasing car

hyposmurf

Looking to buy a used car from about £1000-£2000.Would it be advisable to wait a few weeks for the new registration plate to come out,plus also the fact that the overall economy in the UK seems to be worsening.Im no rush to buy my first car anyway.

standupguy

In the price range you are looking at I do not think the change of plate will make any difference.

May be best time to bag a bargain is two weeks before Christmas - that is always a poor time for car sales ( and the dealer stock gets to be a year older very soon after) and the credit crunch may have done its worse and ready for an upturn in the new year?

hyposmurf

Thanks for your feedback.The other thing is that by buying now I'll be buying a car that will very soon be a year older,so it could effect its valuation slightly when going to resell.

jimmo

I see this is going to be your first car. I therefore imagine you will be rather limited in your choice of cars because of the prohibitive insurance costs for newer drivers.
Even though you are in ho hurry to buy I suggest you start looking now.
I agree with standupguy that in the price range you are looking at the change of plate in September is not going to make much difference.
In newish cars the year or plate can be significant but as cars get older, the condition of the car becomes increasingly more important than the age.
Whenever you start looking to buy I think you may be in for a bit of a shock in the amount sellers expect to get for their cars compared to what you want to pay but there are usually some bargains out there.
Start looking now. If you have even the slightest doubt about a car you see, walk away.
If you suddenly find a real peach then snap it up.
If you don’t, just keep on looking.

Crabman

There are a few decent cars to be found at that price range but you probably won't see any price difference in March/September with the new plates coming out. I've moved this to the Motoring Board

There was a thread in last week's email which may interest you: Bangernomics

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

LandyAndy

hyposmurf wrote: »

Thanks for your feedback.The other thing is that by buying now I'll be buying a car that will very soon be a year older,so it could effect its valuation slightly when going to resell.

With your budget condition, service history, mileage and brand reputation for reliability are all more important than age.

Conor_3

hyposmurf wrote: »

Thanks for your feedback.The other thing is that by buying now I'll be buying a car that will very soon be a year older,so it could effect its valuation slightly when going to resell.

#

No you won't, you'll be buying one that's on a plate that covers the previous 6 months. It is pretty much inconsequential to the value. The only thing that really does hammer the value is if they bring out a facelifted model and then the value drops on the pre-facelifts. But as for having an 08 plate instead of a 58 plate, it's meaningless.

cyclonebri1

Agree with all the above, just find the car you want and buy it. £2000 is plenty to spend on a 1st car, get a few years NCB and the options will then be far greater.

Of course you might want to join the money saving section of the comunity as its quite possible to make a car of this price last another 10 years. Condition not age is the key.

Remember you will always remember your 1st car, so make sure you get it right:T