Extended warranties, low cost of repairs and low-interest payments are just a couple of reasons why people may buy a brand new car. Knowing your new vehicle is equipped with all the latest tech and gadgets is another major positive for many people.
Nevertheless, buying a brand new car isn’t for everyone, and we can understand why.
Used cars are much more affordable to not only purchase but run as well. Many models come with warranties, meaning you won’t suffer enormous repair costs in the first year or so.
So, if you’re thinking about buying or replacing your car soon, take a look at why we believe a used car on finance is the way forward.
Here are a few top reasons why you should buy a used car instead of new.
Used cars are much more affordable than buying from new. Admittedly, there are some reasonable finance deals out there on brand new vehicles. However, used cars are significantly lower in price than new ones anyway. Another significant advantage of buying a used car on finance.
Don’t suffer from depreciation
If you’ve ever bought a brand new car, you may perhaps already know that the price of the vehicle massively drops once you drive it from the forecourt. Buying a used car on finance eliminates this problem because used vehicles will have already depreciated significantly.
Take it home straight away
A big bonus of a used car is that there’s no waiting around, unlike buying a brand new vehicle which has to be custom made to your exact requirements. So, if you need a car right away, going down the used route is a sensible choice. It’ll also give you a chance to give the car a once over before you commit to buying it — something which can’t be done with a new car.
If you registered your used car before 1st April 2017, you probably wouldn’t have to pay much tax. This is because the rules changed after this date. Particularly regarding vehicles with lower emissions which enjoy lower rates of tax. So, before you buy that new ‘gas-guzzling’ 4 X 4, think about buying a new car, and save money straight away.
More affordable insurance premiums
Insurance premiums for used cars are often more affordable than buying from new. The reason being that if your vehicle is written off after an accident, your insurer only pays the current value of your car. A figure probably much lower than a newer equivalent.
Used car warranties
Many dealers will check their used vehicles thoroughly before selling them to the public. Such cars are commonly referred to as ‘approved used’ which means they are in the best condition possible for re-sale.
To back this up, used vehicles also come with a limited warranty. So if anything goes wrong in, say, the first year, the garage may be able to fix it free of charge.