Are you planning on buying a car? While buying something brand new and with all the bells and whistles might be tempting, is it really the right move for you? When considering your options, it’s important to weigh up the many benefits associated with used cars and make a decision that suits your wants, tastes, and needs.
If you’re wondering why you should consider buying a used car over a new one, keep reading our short guide.
Lower total cost of ownership
Perhaps one of the best reasons to buy a used car instead of a new one is that it’s much more affordable. When you buy a car, there are several costs you need to consider, including purchase price, insurance, road tax, and registration fees. With new cars, these are typically quite high, especially for the purchase price and insurance.
On the other hand, not only are used cars dramatically cheaper to buy, but the other associated costs are much lower too. That means when you buy used, you’ll typically pay less for insurance, road tax, and registration.
You should also note that a car’s biggest depreciation happens within the first 1-3 years, which means buying a new car can be a poor investment.
Stability and speed in the UK market
Over recent years, the used car market has only grown stronger. Average retail prices of used cars have increased by about 1.5%, and most used cars are selling within 30 days. Because the used car market is so strong, its giving many customers more confidence and choice, enabling them to find their dream car for less.
In short, you can sell your current car for more than in previous years, and use the proceeds to buy yourself an excellent upgrade.
Greater choice and value for money
Another benefit of purchasing a used car is that there are a lot more options available. No matter what type of car you’re looking for, there’s almost certainly a used car that suits your needs, tastes, and budget. The sheer volume of used cars available for sale means that it’s worth considering, even just on the off chance you find the perfect car for a fraction of the price.
Of course, the exceptional value for money provided by used cars means you can typically find models with higher specifications or added mod-cons at a very reasonable price. Whether this is something as simple as having the alloys in a certain design or a few additional entertainment features in the cabin, it’s definitely worth considering.
David Prior
David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.
