What Car To Buy: New, Nearly New, Or Used?
Every year, more and more people opt for used cars over ones that are new.
In fact, used car sales tend to outnumber new car sales by around three to one.
If you want to look at the pros and cons of a new car versus one that is second-hand, then simply take a look below to find out more.
When you buy a new car, you get a lot of different benefits. First of all, you can easily choose the expectations that you want, and you can also take advantage of things like the warranty package.
You can also take advantage of sweetener deals too. Finally, you won’t have to worry about the unknown history of the vehicle. There are so many good reasons for you to get out there and buy a new car. Newer cars tend to come with way more advanced technology and the overall value of this should not be underestimated.
This is especially the case when you look at the general fuel efficiency. Huge advances have been made with this recently, along with safety. Features such as stability control can sometimes be lifesaving, and this is especially the case in the event of an emergency. On the downside, it’s true that a lot of modern car breakdowns stem from things such as electrical faults and this is not easily cured when you are at the side of the road.
There are around 8 million cars that are sold used, every single year. It’s safe to say that there is a breadth of choice and that this is the best argument you could possibly hope for when you buy a used car. Another big plus of buying a used car is that you don’t have to worry about the financial hit that comes with depreciation.
20% of the value of a new car is wiped the second you drive it off the lot. It’s important to know that not many new cars are worth even half of their purchase price after just 3 years. A lot of cars will have lost over two-thirds of their value at this point. The introduction of factory warranties has added a lot to the appeal for used cars. It’s given people the peace of mind they need to make a confident purchase and it has also boosted the number of people who are actually going ahead and making used car purchases too. If your factory warranty is passed, consider finding the right used car warranty. TheDrive will help you to choose the warranty coverage your vehicle needs at the price you want.
Of course, it’s important to know that nearly half of all used car sales are actually being completed by dealers. The finest used cars often come with manufacturer-approved schemes. You will pay for them but at the end of the day, you’re essentially getting the same experience you would if you went and bought the car brand-new so this is an important point to keep in mind.
Buying from someone who isn’t a specialist, but still, a reputable dealer will probably end up being more expensive when compared to going private but at the end of the day, you can expect to get some good back-up if you experience any issues. Private purchases can give you better prices, but buying at an auction will give you the cheapest route. If you are in the market for a new car because you have recently had an accident, then remember you can hire top auto injury lawyers to help you with your case.
One of the big uncertainties that come with buying a used car is history clocking with the mileage is an issue. Ideally, the car that you have will go through a complete service history and if it doesn’t then you can rest assured knowing that there is going to be some form of history check done.
If you can’t decide whether to look for new or used, you’ll be glad to know that there is another option which is nearly new. This will usually come from the dealer’s demo fleet or it will come from pre-registered stock. This can include cars that have been notionally bought so that the dealer can meet a sales target. On one level, this option looks like it could be the best of both worlds as it gives you all of the benefits that come with a modern car but with the price reduced. That being said, if you want to make the best decision, you have to make sure that you take note of the downsides.
One of the downsides of buying nearly new is that you will have an extra name on the registration document. This will lower the overall resale value of your car. You also have the restriction of choice. You get whatever specifications the dealer thinks are best in order to demo the car, so you won’t have many options in terms of customisability. This isn’t necessarily a bad thing though as the dealer will usually be a good judge of what the market wants. Nearly every new car out there will have a few thousand miles covered. This isn’t enough to impact the general appeal or even the driveability, but it is enough for you to take that no-car feeling away.
For some, this puts them off, but for others, the ability to have a cheaper car is worth it. It’s vital that you confirm the build date of the car before you go ahead and commit to the purchase. You may well think that you are buying a car from 2016 but it might actually be 2015. This will hit your value when the time comes for you to sell it on. The key thing that you have to remember here is that you need to set a budget and you need to stick to it. It is a buyer’s market at the end of the day and if you cannot come to an agreement on a car then you have nothing to worry about. You will find one somewhere else that happens to be just as good.
So this guide should help you to find out everything you need to know about buying your next car. If you need some more help, then make sure that you go through your car salesman.