If you really want to minimise depreciation costs then buy a good 2/3 year old car in the UK, keep it a year and sell it for at least what you paid for it (usually more), works for me! More effort naturally, and very make/model dependant but if you're careful its the most economical way to own a nice car at minimal cost.
I have a 2004 car worth 18,000, no loan, cost 28,000 3 years ago. At what point does it make financial sense to change to a newer car, take out a small loan now or a bigger loan in 2 -3 years.......for the same cost in the long run ,could i be driving a newer car now?
What may also be worth considering is that new(er) cars will have a warranty which should prevent any nasty bills should anything go wrong with the car. Given the prices of parts and labour it does give considerable peace of mind to know that the car will be repaired should something go seriously wrong.
But you still would pay labour which is the most expensive part??
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