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Expensive and stressful: why buying a car makes no sense

The news this week that James Hind, 28, has raised £5.9m to launch Carwow, an online vehicle marketplace, took me back to the day when I bought a new car over the internet.

It was 2003, when Mr Hind was still a schoolboy, but, even then, Sir Richard Branson was declaring the whole business of going to a dealership and haggling with a salesman outdated.

By reimporting UK-assembled cars that had previously been exported to Cyprus, Virgin Cars was able to undercut the dealers. You chose a car online, made a payment and picked up your vehicle at an out-of-town garage.

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