Tips for Buying New Cars in 2019

Thinking about investing in a brand-new car in the first half of 2019? It may seem like buying new is easier than buying a second hand car but there are still some important things to consider:


If you are going to need help purchasing your new car in the form of a loan or finance agreement, consider your options carefully.

There has been a lot of coverage in the media about Personal Contract Plans (PCP) as a method of financing a new car. We say financing because that is what a PCP agreement is. It is a hire purchase agreement which means you will not own the car until Guaranteed Minimum Future Value (GMFV) payment is made at the end of a specified period. Although it may seem like a good deal initially, the final payment can mean you pay close to the market value of the car when you allow for depresiation. This can make purchasing your next car difficult, if you don’t have the money for another deposit.

Away from PCP, if you need a loan for your new car, consider:

  • Interest rates
  • Repayment amounts
  • Length of the loan

Before committing. There can be significant differences between banks when it comes to repaying a car loan.

Don’t forget your local credit union. If you are a member, you may be able to get a loan and a group discount on your car insurance.


Although you may be able to afford a brand-new saloon car, remember to factor in insurance costs. It may feel exciting to be able to move up a model, it is highly likely the cost of your insurance will increase also. There are many factors insurance companies take into consideration when it comes to pricing premiums, the horsepower of your car is one of them. So if you want cheaper car insurance, consider this when you are looking at new cars to buy.

Future Proofing

Are you hoping to keep your new car for the next two years? Or is it a five-year investment?

This is going to impact the type of car you are going to buy. The two seater might appeal now but if you are in a relationship, is there any chance of the patter of tiny feet before you change your car again? If the answer is yes, it might be worth considering your options again. If you are choosing a family car, remember you can only sit two in most standard back seats. If you have any more than two small children and you may need to consider a 7 seater.


We are sure you have heard the adage, you lose 5% of the value of a new car as soon as you drive off the forecourt? For some models, their value declines quickly, by up to 40% at the end of the first year. So, researching your new car is essential. If you want to sell your car again in the future, choose a brand that does not depreciate as quickly.


As the sterling continues to fluctuate against the Euro, the temptation to import is even greater. If you are importing a new car, think carefully, there are a number of costs you have to add to the price of the car before you can drive it on Irish roads. They include:

  • Vehicle registration tax
  • VAT
  • Travel costs

The overall cost difference may be so small, it might not be worth the additional trouble.


There has been a significant increase in the number of Irish people buying hybrid or fully electric cars across 2018. There was a 100% increase in people buying electric vehicles. This may be due to improvements in the performance and variety of cars on the market. If you are a short distance driver, there are many advantages to making your new car a EV:

  • Grant towards initial purchase price
  • Running costs are a fraction of petrol and diesel cars
  • Reduced tolls
  • 1st July 2018
  • Charge points are well distributed around the country
  • Free charging at public charge points

Buying a new car is exciting but there is also lots to consider to ensure you get the best one for you and your lifestyle.

When it comes to insuring your new car get a quote.


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