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What are the advantages of buying a used car?

By Mat Trueman
Thursday, June 13, 2019

What are the advantages of buying a used car? 

 

1. Cost  
The price of a used car will almost always be lower than that of a brand new version. A car that has previously been used by someone will be less valuable than one that is fresh off the production line. Given this, an example that is just a few months old may look new, feel new and even smell new but you won’t have to stomach the incredible cost that new cars demand. All in all, you get your preferred choice of car whilst sometimes saving thousands of pounds.  

 

1. Cost  

cost

 The price of a used car will almost always be lower than that of a brand new version. A car that has previously been used by someone will be less valuable than one that is fresh off the production line. Given this, an example that is just a few months old may look new, feel new and even smell new but you won’t have to stomach the incredible cost that new cars demand. All in all, you get your preferred choice of car whilst sometimes saving thousands of pounds.


 

2. Lower Depreciation

depreciation 

 

A second hand car will lose its value more gradually than a brand new one. In fact, if you choose a car that's close to the bottom of its depreciation curve, it may be possible to run it for a long time and barely lose any money. In fact, you might be able to sell it for the same figure you bought it for. This won’t be the case for a new car, because of its originally high purchase cost, it immediately loses value as soon as it’s been driven. 

 


 

3. Tried & Tested 

tested

 

Buying a car that’s just been released could expose you to technology and engineering flaws that has not been extensively tested in the real world. While most cars are pretty reliable these days, being an early-adopter of a certain model doesn’t always pay off. It can take months for issues to present themselves, and sometimes years for them to become widely known. Issues like corrosion might not be immediately identifiable and could only materialise after the model has been on sale for a few years. 


4. More For Your Money Without The Wait 

money
 
Rather than buying a brand new car that is the entry level model, you could opt to get a second hand example that has a much higher specification for the same price or in some instances less! It must also be noted that if you want your next car immediately, then the used car market has available stock to drive away the same day – New cars in most cases will require lead times meaning a wait that can sometimes run in to months. 

5. More Available Choice  

choice
 
There’s a huge range of second-hand cars on the market, far more than there are new examples available. You may find that an older model that is no longer in production makes more financial sense for you, or that a previous-generation of a current model is better suited to your needs. You may simply prefer the styling of an older car. 


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