Things to Consider

Things to Consider

Things to consider before buying a car

Many of us tend to forget the running costs and concentrate more on the purchase price when looking into a buying a car. The ongoing costs can turn out to be quite expensive.

Running Costs 

The running costs can include:

Insurance

Road tax

You will receive a notice to pay each year, and you can pay at a post office by producing the notice to pay, a current insurance certificate, and a current MOT certificate (if the car is more than three years old).

Depreciation

This refers to the gradual decrease in value of the car over time. A new car immediately depreciates by about 20% as soon as it is driven out of the showroom, 40% after the first year, and 60% over the next 3 years.

Oher Costs

New or Second-Hand?

New Cars

Advantages

Disadvantages

Second hand cars

Advantages

Disadvantages

Further information

Drivers and Vehicle Licensing Agency. This is the official government site all about licensing a vehicle, drivers licences, and personalised number plates.

www.dvla.gov.uk
Other advice and help can be found at