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Buying a Used Car Vs New

So you're looking for some new wheels, the appeal of buying new is there, sure when buying new you avoid the unknown - how have the previous owners been driving and yes you can sped out the car to your taste. But, when buying a new car you can also drive it off the forecourt safe in the knowledge that 12 months later the vehicle has lost 20% of its value in depreciation. So how does a used car sound now? Here we take a look at the advantages of buying a used car compared to new.

Depreciation

Yes all cars depreciate whether new or used, but the rate of depreciation in a used car is a lot slower than that of a new. Buying a used car saves you money on depreciation that has been paid by the previous owner(s). Buying a 3 year old car can mean that almost half the cars total depreciation has already been paid, and even more so if the car is older.

Price

Seems obvious but you are paying less for a used car, and there are bargains to be had, the price on used cars of similar standard and model can vary so by shopping around you can save a few pounds. Not to mention the fact that buying used allows you to upgrade the quality of car you can afford in comparison to buying new.

You Will Be Less Precious

You would be hard pressed to find a used car over a few years old that doesn't come with a few minor scratches and maybe the odd bump. This can mean that you will be in less of a frenzy if a new one appears out of the blue when your other half has driven it home or you return to it in the car park. With a new car you will be looking up scratch repair companies for even the smallest engraving. And worried about the kids leaving crumbs on their car seat!

Insurance

Insurance rates on used cars are often cheaper, have a quick look at a comparison website and you might find that you save money just by purchasing a used car. Always good to check the potential insurance rate before you purchase a car, you could be left a little shocked at the price of some rates and it might make you change your mind.

Certified

You can also get close to the best of buying used by purchasing an ‘’approved pre-owned car’’ These can be vouched for and checked by the dealer as well as the fact that they often come with a warranty. These cars are considered more trustworthy because there is a legitimate track record of the car and it will often have been serviced through the approved dealers so they can ensure the work has been carried out to their high standards.

There are many reasons why you would buy a used car over a new one. Your wallet alone will surely thank you as buying new often stretches a person's budget. When buying used a bit of advice would be to try and find a vehicle with a full-service history so you know a bit more about the car before purchasing.