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Put the brakes on buying that new car in changing market

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Consider your options and the economic environment before committing. Stock image

Consider your options and the economic environment before committing. Stock image

Interest rates have been rising. Stock image

Interest rates have been rising. Stock image

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Consider your options and the economic environment before committing. Stock image

I spotted my first 231 car registration at the weekend; it was on a shiny new range rover which is something far outside my budget, but while I’m still looking to replace my own modest motor later this year, I’ve already decided it definitely won’t have the 2023 registration plates.

I always buy second hand, because a car is a depreciating asset, often worth less than the loan that’s on it, and I hate debt for non-essential purchases.


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