Should we buy a new car or a second hand one?

[JollyHockeyStick]

What do you think? And why?

I wouldn't buy a new car. I think you lose about 20% of the value as you drive off the forecourt.

I usually recommend buying pre-registered. No previous owners but no huge drop in value.

Second hand is good if you know the history.

There's always loads of ex fleet and company cars around a year old about. We've had 3 ford focuses like this no trouble at all. Way cheaper than new.

The only car I've had to take back to the dealers was my brand new one that was supplied with a disc eating CD player.

Secondhand is fine if you buy on condition and check the history properly. You can save a massive amount. A sensible purchase can see depreciation-free motoring at various levels of the price spectrum, or high-spec/luxury for a fraction of the cost (e.g. CL600 - £120,000 new; 8 years old - £12,000).

New is OK if you buy a car to keep for 15 years and run it until it dies, not good if you like to change often. If you can afford the depreciation, go for it. Alternatively, lease a new car every two/three/four years if you're happy with the monthly payments.

See, I instinctively shy away from hire purchase, but I'm not clear why the idea bothers me so much.

Similar to what I said here www.mumsnet.com/Talk/cars/a1551433-Car-leasing#33831263 - you pay for the privilege of credit. Also, you don't own the car unless you make the balloon payment at the end.

Thank you :)