I'd definitely agree with that, if you can buy as new as you can afford, and look after it carefully, drive it sensibly, then it saves a lot in the long term.

Once the monthly payments are done make sure you put the same amount in the bank each month and use them towards any repairs you might have. You'd be surprised how much this will mount up to a good cash sum when you eventually have to replace the car.

Most of my cars have been bought nearly new and kept for a long time / high mileage. The cost of the occasional wheel bearing or shock absorber or even cambelt can be met from the savings and still have money left in the bank.

Don't count in routine servicing, brakes, tyres etc - you'd have to replace them regardless of whether you kept the car or bought nearly new, in due course.

My wife's Peugeot 206 was bought new in 2001 and lasted 19 years and 110,000 miles before succumbing to the 'corrosionvirus'. In that time we replaced the cambelt twice and two wheel bearings, apart from routine servicing.

I also has a Vectra from new as a company car which I bought from the leasing company at 3 years old. It was run for 12 years and 212,000 miles before I gave it to a family member. In that time it needed new wheel bearings & shock abosrbers which were less than what a typical monthly payment would have bene had I replaced the car.

My current Mazda 6 is now 10 years old and 172,000 miles and still got lots of life ahead, I hope!