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Current deals making new cars cheaper to buy than old ones

Date: 11/11/2014 03:56:52
Category: Car tracking
Author: Laura Varley

Deals being offered on new cars are making them less expensive to buy than older vehicles, new figures from Carwow.co.uk suggest.

The cost comparison site says that buyers could save thousands of pounds by purchasing a brand new car over a used one, thanks to certain finance deals. If a buyer bought a new Volvo XC60 D4, for example, they would save almost £5,000 compared to if they purchased a used one with nearly 6,000 miles on the clock, reports bt.com.

Buyers could make even bigger savings on a new Volkswagen Golf R five-door 2.0, as one that's driven just under 2,000 miles could cost up to £8,000 more than a brand new one.

James Hind, Carwow.co.uk founder, believes that the "fantastic" finance deals currently on offer have played a big part in pushing new car registrations up month on month.

"Some people may think that buying a 'nearly new' car is their best option, because new cars can depreciate quickly, but if you're getting a significant discount on a new model and if the finance rates are more attractive, then it's usually worth weighing up the cost of a brand new model," he stated.

The Society of Motor Manufacturers and Traders (SMMT) recently reported that new car sales could climb to 2.46 million by the end of 2014 - a ten-year high, reports yahoo.com.

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