Buying a car

Buying a car or motorcycle can be expensive, so it’s important you get it right. One of the biggest decisions you need to make is whether to buy a new or used vehicle.

New cars are more expensive but are generally more reliable, whereas used cars are cheaper but might cost more to run. So read our tips to stay MoneyFit on the road.

Buying a car

This section explains the benefits and drawbacks of new and used cars, to help you make the right decision for your needs. It also sets outs some of the common ways to borrow to buy a car - see Car loans and finance.

Remember the cost of buying a car isn’t just the price you pay for your vehicle. You need to factor in other costs including:

  • insurance
  • maintenance
  • fuel
  • road tax
  • repairs, as parts wear out 

Our Car costs calculator can show you how it all adds up. Make sure you look at our tips for reducing car running costs.

Tracey did the right thing and saved up to buy her dream car, but she didn't factor in how she would manage if things went wrong. Watch Tracey's video to find out more.

Should you buy a new car?

Sitting in your own brand new car for the first time can be an exciting feeling. However you should think through the benefits and drawbacks of buying a new car before you decide whether it is right for you - see Buying new.

Should you buy a used car?

Buying a used car means you can save a lot of money. However, used cars are often more expensive to maintain and you run greater risks of being misled. You should think through the benefits and drawbacks of buying a used car before you decide whether it is right for you - see Buying used.

Next steps

Don’t forget that you’ll need insurance so check out our tips in Car insurance.