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New cars can save drivers up to 25%

Wed, 03 Sep 2014

BUYING a new car instead of a secondhand one could save drivers as much as 25% on their motoring costs in the first year of ownership. These savings come from cheaper insurance, lower road tax costs, improved fuel economy and no MoT test.

Comparing a brand new Volkswagen Golf with a five-year old model, the new car reduces the annual spend on motoring from £1689 to £1267, saving £422 in the first year of ownership.

The research by Moneysupermarket found similar savings could be made on other popular makes and models of car. The firm’s Dan Plant said: ‘Of course, a new vehicle will always have a higher headline price than a second hand one in the same model, but the savings you can make on running costs alongside potential deals offered on new cars by keen salespeople could outweigh that. Plus you'll usually get a decent warranty, and that lovely new car smell!’

By Press Association reporters