Should I Buy a New or Used Car?
We are in the process of replacing our car, but can't decide if we should go for a new or used car. We have a budget of maximum $10,000-$15,000.
We need a reliable car as my husband is going to use it to and from work and I am going to use it to learn to drive in, so I would prefer an automatic (but no deal breaker.)
I really enjoy listening to you on 2UE especially when you are on with Clive Robertson.
Thank you for your time and keep up the great work.
Thanks for the kind words. Clive is a lot of fun.
With a maximum of $15,000 to spend, your options are fairly limited to the lowest end of the new-car market.
If you're thinking of a new car I would be going for a base-model Hyundai i20 manual. At the moment they're $14,990 driveaway. It's right at the top of your spending limit.
However, I really think there's better value in the used market at this price point. What about a used 2011 Hyundai i30 SX auto like this one here for $12,000-$14,000? Because of Hyundai's five-year warranty, a car like this would still have 2-3 years' warranty remaining.
That's what I'd go for.
You could get one even cheaper at auction. Please feel free to see my report on how much you can save by buying a car at auction here.
Hope this helps.