Should I buy a new or used car?

Deciding between a new or used car can be a tricky decision to make.

On the one hand, a new car has a lot to offer. You’ll be the first owner, you’ve got warranty coverage and you’re in a brand-new model with the latest technology.

However, a used car can sometimes get you more for your money or an equivalent model at a significant discount. But, you need to factor in warranty costs, MOTs and servicing.

If you’re finding yourself unsure which option to choose, this guide is here to help you make a decision.

Buying a new car

A new car is one fresh from the factory, with you as its first owner. Opting for a new car means you’re in one of the very latest models. It’ll also be covered by a manufacturer warranty and you won’t need to worry about MOT tests for the first three years.

However, they tend to cost significantly more than used equivalents and tend to depreciate (lose value) more quickly.

Pros of buying a new car:

You’re the first owner

There’s something nice about being the first and only owner of a car. That nice new touchscreen has never been used by anybody else, yours is the first bottom to sit in the driver’s seat. You’ll know there are no hidden signs of misuse to worry about, either.

You can spec it exactly how you want it

If you’re ordering a new car, you get the privilege of deciding exactly how you want it. You’ve got the choice of colour, equipment and wheels, plus any accessories you fancy.

You’ll get a full manufacturer warranty

Every new car will be covered by a manufacturer warranty from the date it’s registered. That means you’ll get to take advantage of its full coverage should any issues arise during ownership.

No need to worry about MOTs (for a while)

New cars don’t need an MOT until three years after they’re registered.

Cons of buying a new car

You’ll likely pay a higher price

New cars tend to cost more than comparable used cars. You’ll also have to take the depreciation (the value it loses over time) that comes with buying a new car, too.

You may have to wait a while for it

As exciting as choosing your car can be, it does mean you’ll have to wait for it. Depending on your model, this could range anywhere from a few weeks to over a year.

You may have a higher insurance premium

This will depend on your chosen model, but the higher value of new cars and the increased cost of replacement parts may result in pricier insurance premiums.

Buying a used car

A used car is one with a previously-registered owner that’s covered more than delivery miles.

Used cars can vary wildly from ‘nearly-new’ ex-demonstrators with a few hundred miles on to well-worn workhorses with five owners and 200,000+ miles, or anywhere in between.

They tend to cost cheaper than new cars, but you don’t always get the luxury of a warranty and will have to be mindful of MOTs.

Pros of buying a used car

You’ll get significant savings compared to new cars

The biggest draw of a used car is the significantly lower outright cost compared to a new one. This is particularly the case if you go for older models which have already depreciated a significant amount.

You could get more car for the money

You may find the money you’d spend on a new car could get you a higher-spec used car for the same amount.

You don’t need to wait

While you’ll need to wait for delivery of your new car, a used car already exists of course — meaning you could get it more or less instantly.

Cons of buying a used car

You may not have a warranty

As a manufacturer’s warranty runs from the day a car is registered, it may have expired by the time you purchase it. Even if it’s still covered, you’ll have a reduced period compared with a new example.

Issues are more likely

A used car that’s seen some wear and tear is generally more likely to be prone to issues than a new example. This will of course vary depending on how well (or poorly) previous owners looked after it.

You’ll be responsible for servicing and MOTs in most cases

Though new cars don’t need an MOT initially and you can often get servicing packages, this isn’t usually the case with used cars.

Used cars older than three years will be required to have an MOT test every year, which you’ll be responsible for. You’ll need to factor annual servicing costs in, too.

Is it worth buying a new car or a used car?

Whether you opt for a new or used car will come down to what you’re looking to get for your money. Below are some examples for each:

You should buy a new car if:

• You want to spec your car to your liking
• You want the latest model
• You want to be the first owner of your car
• A manufacturer warranty is important to you

You should buy a used car if:

• You want to save on the upfront cost of a car
• You’re looking for the most car for the money
• You don’t want to wait for the delivery of a new car
• You’re happy to offset the lower price with potentially higher maintenance costs

Buy your next car with carwow

No matter your choice of new or used car, you can take a look at deals through carwow.

If you’re looking to buy a new car, you can spec a model to your liking and wait for dealers to bring their best offers to you. No haggling, no hidden surprises and no hassle — you don’t even have to leave the sofa.

There’s a wide selection of nearly-new and used models to pick from too. Simply browse through the latest stock to see what takes your fancy.

If you’re looking to sell your car, you can do that through carwow too. Just upload a few photos, submit some details and wait for the offers to roll in.