US money site argues you can save big bucks by not renewing your motor, link below:

http://money.cnn.com/2007/08/30/autos/cr_drive_200k/index.htm?cnn=yes

What do you think?

Definitely agree

I just don't understand why people are prepared to buy new cars. If you have £15k in your bank and absolutely nothing to spend it on (house, holidays, etc), then I guess it could make sense.

BUT to buy a car on finance, £200 - £300 per month!? Wouldn't you rather spend that on a mortgage?

Plus you loose so much money the minute you drive it away from the garage / forecourt.

Which would you prefer: New Passat £16k +
Or save £12k and buy a 3 year old Passat for £4000 ? (88k, autotrader)

Even new cars go horribly wrong - with an older car - you'd hope or expect all the problems to have been fixed...

http://www.austin-rover.co.uk/index.htm?blogs200712f.htm

I've heard lots of bad things about *new* Vectra's going wrong. A guy at work had one - needed new injectors - £1400 !! (thankfully for him it was still under warranty)

This is what Bangernomics is all about!