That’s true, buying a used car vs new is cheaper but you’re still locked into a 4 year loan and once you’ve fully paid off the loan we’ll be in 2027. By that point, petrol cars will have depreciated even further due to electric cars flooding the market and being better value, so the residual value on your petrol car will be even lower. In the meantime, you’re driving an older car that will likely cost you more in unexpected maintenance/repairs as it ages.