There are many purchases that become essential when it comes to having children. It’s amazing how the shopping list expands, and things you hadn’t even considered suddenly enter the fray. But one of the most significant purchases you can make as a young family is that of a new car. Finding something that’s spacious, reliable, economical and, above all, good value for money is no easy thing, particularly when you consider the wider picture.
After all, it isn’t just about the cost price of the car. Running costs, insurance, servicing and depreciation are significant factors, and will use up a considerable amount of your budget. So the key is to get it just right. Many have a preference for buying new cars, with the guarantees and warranties that come with them firmly in mind. Yet while that is understandable, there is still good value to be had in the used-car market too. Whichever route you decide to go down, it’s vital to cover your bases, thus ensuring that the car you eventually choose is the right one for you. Here are some tips to help you get there.
1. Look at the one-year market
The downside to buying new cars, quite simply, is this: they plummet in value as soon as you drive them away for the first time. In fact, new cars lose up to 40 per cent of their value over the first 12 months. Certain brands hold their value better than others, but the bottom line is that you are dramatically slashing your upfront costs if you look within this particular niche – and should still be able to find something in great condition.