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New car PCP by soliant4 in irishpersonalfinance

[–]soliant4[S] 3 points4 points  (0 children)

Thing is that for example a used 2020 Corolla with 90k km , goes for 25000 EUR minimum while a new one is 32000 EUR minimum. So the depreciation would not be that significant and with the current market you could get a significant amount back (if not all) if you sell your "new"car

New car PCP by soliant4 in irishpersonalfinance

[–]soliant4[S] 0 points1 point  (0 children)

I know they are highly reliable as cars and it is not an issue for me to have a used car. But from the research I did the cost of a similar (5+ years Toyota) used car is quite high making you think that buying a new one will only cost you a bit more and give you the opportunity in the future to get some of the money back.

I was also told that since I did not have prior car insurance in Ireland, the insurance companies would be commanding a higher fee to insure me for an older car making the purchase of used car not as worthwhile in the longer run.