Millions of motorists are being urged to think carefully before making a major car-buying decision when the latest registration plates arrive next month.
The introduction of the new ‘76’ registration on September 1 is traditionally one of the busiest periods of the year for car dealers, as drivers look to upgrade to vehicles carrying the newest plate.
However, motoring experts have warned buyers not to get caught up in the excitement of owning the latest registration if it means paying significantly more for their vehicle.
The DVLA says cars registered from next month will carry the new ‘76’ plate as part of the twice-yearly registration change.
The arrival of a new plate often leads to increased interest in dealerships, with motorists keen to be among the first to drive a car with the latest registration.
But car buying specialists BigWantsYourCar.com said the registration itself should not be the deciding factor when choosing a vehicle.
Ben Raffell, from the company, said: “Every September there's huge excitement around the arrival of a new registration plate, and that's completely understandable.
“Many drivers like the idea of owning one of the newest cars on the road.
“The mistake some buyers make is allowing the registration plate to become the deciding factor rather than the overall value of the car.
“A vehicle carrying a brand-new '76' registration may look newer, but that doesn't automatically make it better value.”
He advised motorists to compare prices carefully and look at finance deals before committing to a purchase.
Buyers should also consider how quickly their chosen vehicle is expected to lose value over the first few years.
Raffell said pre-registered and nearly-new cars could offer motorists a way to get similar technology, safety equipment and manufacturer warranty for considerably less money.
“The most important thing is buying the right car for your needs rather than feeling pressured into owning the latest registration simply because everyone else is talking about it,” he added.
The RAC and AA have both highlighted the impact depreciation can have on the value of a new vehicle.
Some estimates suggest a brand-new car can lose as much as 35 per cent of its value during its first year, potentially leaving owners thousands of pounds out of pocket.
Motoring advisers are therefore encouraging drivers to research depreciation rates for different models and compare finance packages before buying.
Motorists should also factor in running costs, including insurance, as brand-new vehicles can sometimes attract higher premiums.
With the new ‘76’ plates arriving on September 1, drivers considering a new car have been urged to focus on the overall cost of ownership rather than simply chasing the latest registration.
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