Car buying tips

magician64

Would be interested if anyone here can put me in the right direction in terms of car purchase. I believe that buying something 2/3 years old is the most cost-effective. is this still the case? If so can someone give me some figures.

Would these figures still hold up if I was able to get interest free credit. I plan to get five years interest free and keep the car for the whole of that period. Would that make buying new a better deal?

Has anyone come across the website www.interestfree4cars.com. Seems to be a good deal, but are they genuine?

Thanks

gizmoleeds

Cars will lose about 20% in their first year, and 50% in the first 3, so you are very right that it is a good idea to get a 2/3 year old car.

Has anyone come across the website https://www.interestfree4cars.com. Seems to be a good deal, but are they genuine?

They seem very new - FAQs under consruction and spelt incorrectly, and no google hits for them.

You could easily get a car lease for a similar price to those I have seen on this site, and with one of those you could change the car every 18/24/36 months.

Woby_Tide

entirely dependent on offers available and sort of cars you look at. Last time we bought I went looking at 1/2 year old second hand models at dealers, priced around £9/10k mark. Speaking to salespeople and by various schemes we were eligible through who my employer was and by taking out a finance package with manufacturers financial arm including a paid deposit a brand new model cost £8.2k(plus full 3 year warranty and breakdown cover included). On another day or salesman it may have been different. So not always cost effective buying 2/3 year old

katherinestevens

My husband and I were fed up buying cars from dealers with a loan. By the time we paid off the loan the car had depreciated so much we had to take out another loan to pay for a newer car. so it was an endless cycle. Until we decided to use my husbands knowledge about cars to go to car auctions. Now we visit the auctions 2-3 times a year, buy a 3ish year old car with FSH low mileage good bodywork etc, plus ensuring it is easily saleable ie small economical cars. We then sell them privately for what we paid or even a small profit, go back to the auctions and repeat the process. We have been doing this successfully for several years, and so far have maintained youngish cars with no loan process. when we sell them we know they are in good order with no hidden nasties, some of our buyers have been suspicious because of the relatively low price we have asked! Car auctions are not for the faint hearted or the auto ignorant, but we have maintained cheaper motoring for years now. PS Ensure the auctioneers are reputable and HPI all cars sold for free. Happy hunting :xmassign:

tomstickland

You acheive a similar result by buying privately. It gives you more time to inspect the car and make a judgement on the seller.

katherinestevens

Understand what you mean regarding detailed viewing of privately sold cars but can't agree regarding price. We bought a 2 year old citroen saxo ex lease car low mileage lovely condition etc for 3,000. Unfortunately a lorry wrote it off 6 weeks later, but the insurance paid out 4,000 its market value
at a private sale, asking around at dealers we found the price nearer 5,000 but the insurance co. would not budge. We were lucky with the saxo, but there are always bargains if you're patient. Also not legwork to view private sale cars, we view 200 per night.

tomstickland

You buy cheaper but with slightly more risk.