ChatterBank0 min ago
Buying A Car
6 Answers
hi guys,just wondering which way to buy my next car, my previous car is now 10yrs old so as you see i tend to hang onto them for a while. I have the cash but is this the best option,I am 64 so this should be my last vehicle.Many thanks.
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When buying a car, cash is always king – unless you want to be signed up to some dodgy finance deal.
The next question is whether you are happy to buy privately, with the lack of comeback on the buyer if things go wrong.
My advice is to buy a car around 2-3 years old, by which time it will have depreciated by around 50%, then own it for the next 10 years, over which time it will depreciate by the remaining 50%.
When buying a car, cash is always king – unless you want to be signed up to some dodgy finance deal.
The next question is whether you are happy to buy privately, with the lack of comeback on the buyer if things go wrong.
My advice is to buy a car around 2-3 years old, by which time it will have depreciated by around 50%, then own it for the next 10 years, over which time it will depreciate by the remaining 50%.