Spending money on a second hand car

If you are buying or have bought a second hand car in the region of £1500 or less then research shows that you can expect to have to spend a similar amount of money again on it over the next twelve months or so. When looking for a cheap second hand car you need to try and find out what may need doing on it so you can budget this in. There is now a very easy system online that allows you to look up previous MOT’s for a vehicle and tell you if it passed or failed and what the advisories (if any) there may have been. Although this will not tell you everything, it may give you an indication of some of the items that may need to be replaced prior to the next MOT such as brake pads or discs.

If you do own a second hand car and find that it needs a lot of money spending on it then you need to decide if you should spend the money on it and get it fixed or if you should sell or scrap the vehicle and put the money towards a new car. You may find that especially on older or high mileage cars, once things start to go wrong, then often seem to carry on and you may find yourself having to fork out again a large sum of money in a few months.