Car Change

[Fickt]

Does anyone have an opinion of whether it is better financially to change a new car every 2 years as opposed to 3 years with a car loan?

Cheers

 

[Diziet]

Most of the depreciation is in the early years, so the longer you keep a car, the better.

And borrowing money on a fast depreciating asset such as a car is daft. If you can't afford it, get an older car.

 

[Bell Butts]

If it's a new car, I'd say keep it for four years and sell it once it's passed its NCT.

 

[Caveat]

If you can afford to, buying at 3 years old and selling at 5 I've found to be the most economical way - if you are intent on changing the car regularly that is, if not buy at about 5 years old and keep until it falls apart.

 

[rsta]

If you can afford to, buying at 3 years old and selling at 5 I've found to be the most economical way - if you are intent on changing the car regularly that is, if not buy at about 5 years old and keep until it falls apart.

I second that. Unless you are made of money, which not many of us are these days!