Buying a car can sometimes seem overwhelming. From dealerships to used car supermarkets, not to mention online purchasing, it can be an exhausting path to navigate. Below, we explore the pros and cons of buying second-hand and the important decisions to consider when choosing your next car.
Depending on your budget, if you’ve got a bit more to spend then a higher-end used vehicle could come in at the same price as a basic, albeit newer, model straight from the dealer. Buying second-hand means you’ve got access to a near unlimited range of cars, allowing you to find the perfect fit for your needs and budget.
The rate of a car depreciation dips rapidly in the first 12 months and then evens out with age. Cars lose their value as soon as you drive them off the forecourt for the first time, and according to the AA, by the end of its first year, a new car will have lost as much as 40% of its original value.
Of course, used cars aren’t immune from depreciation, but the rate is far slower than that of a new vehicle.
Avoid unnecessary extras
A big draw of a new car is, of course, having access to the latest ‘mod cons’. Used cars from the last two or three years may not be keyless, wireless and voice-activated, but they’ll always have the basic essentials and recommended safety features. If you really want a brand new piece of tech, it may still be cheaper to buy it separately and install into a second-hand car, instead of buying a new vehicle just for its gadgets.
Lower base cost
This will come as little surprise, but the cost of a new vehicle will usually be significantly higher than that of a similar, used counterpart. There are benefits to a new vehicle, such as zero mileage and pristine condition, but when you consider the quality of used cars available, the trade-off is rarely worth it.
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