13 May 2016 at 3:55 pm #89569
I’m sure many will quite rightly say this is one I just have to sort in my own head but in brief my dilemma is – I’m looking to spend up to £15k on a car. I need big boot – 520+ litres.
Should I buy a higher mileage ‘quality’ car (ie – 2011, Merc 220cdi estate, 60k miles, FMSH, £15k) or go for a low mileage ‘cheaper’ car – ie 2013, Kia Sportage 27k miles, FSH and Kia warranty to 2020 – £14k)?
I don’t do many miles – about 5-8k a year.
My head says go with the ‘quality’ car – 60k is nothing for a Merc. My more sensible head says – go with a Skoda Octavia/Superb estate – it’s not as if I’m dong 20k plus miles a year….
Stupid query I know but if anyone has an opinion – I’m all ears.
14 May 2016 at 5:29 pm #89581
Hi Engo. You’re right; it is one you need to make your own call on.
In many cases, it will depend on whether you are paying cash or financing. Dealer finance is almost always better on new or near-new cars, whereas if you are paying cash, the depreciation and VAT hit that a new car takes means that it drops in value quite quickly.