Should You Buy A New Or Used Car?

Are you unsure whether to buy a new car or a second-hand one? If so, you have come to the right place. This guide will tell you whether a used car is right for you. 

Explore Finance

One of the first things you need to do is make sure that you explore finance. This might seem like an obvious choice but quite often, the attraction of a brand-new car is often rivaled by the affordable options that are on the market. If you want to help yourself here then searching for finance deals is the best thing to do. The main reason for this is that it allows you to see if you can get a used car for the same monthly price as a used one. Finance deals are becoming more common for used models too, so if this is something you’re interested in, it’s worth exploring what options you have. You also have a great deal of choice on the used market, far more than the new market. If you can get a used car at a significantly cheaper price then this will help you to get a good deal, and it may also lead to further savings down the line. If you want to get a new car then that’s fine but at least make sure you aren’t mis-sold PCP. If you have been in the past, you may be able to go through PCP Claimback.

Search for Similar Cars

Another thing you need to do is try and search for similar, new cars. Every brand of vehicle is sold at an inflated price, as a lot of the time, consumers want to pay more for a shiny car that is fresh on the market. With that said the value that you’re paying ends up vanishing the second you drive the car off the lot. If you want to help yourself here then you need to take the time to look into depreciation. Pre-registered models can always be good value. Dealers will register cars like this themselves and they will class themselves as being the first owner so they can make it look like they are meeting their sales targets. They are often sold with a generous discount too, even though they may be worth the same amount as a brand-new car. 

Manufacturer-Approved

Another thing you might want to do is look into a manufacturer-approved car. If you do this then you can rest assured knowing that there are not going to be any nasty surprises later down the line. Approved cars are put through a mechanical inspection and they are also designed to meet strict standards so manufacturers can meet their requirements. The car details will be put through a mechanical inspection and this means you can avoid any nasty surprises.

Tax Rules

Tax rules have a huge part to play when it comes to new cars. Unless you have an electric vehicle, your annual car tax will be at least a few hundred. New cars will cost you way more, but this can all change if you choose a used car. Opt for a car that was registered before 2017 and you will soon find that it is easier for you to avoid things like tax. Of course, the maximum rate of tax that you might pay is quite a lot, so you need to make sure that you consider things like this. 

Warranty

You also need to give thought to things like warranty. Warranty will still be valid on cars that are up to 7 years old. If you buy a car that has a three-year warranty then this will stay with the car when it is sold. If you buy the car when it is one year into the warranty then you will have two years left on it. Some manufacturers are way more generous here, and in some instances, you can get a five-year warranty. Subaru and Hyundai are all known for doing this and it is a good way for you to get the result you need. You may also find that you can get it serviced properly and extend the warranty even more which is great. This is something to consider if you buy a used or a new car, so make sure that you keep that in mind as it could make a major difference to you and your general experience.

So as you can see, whether or not you should buy a new or used car comes down to a lot of things but if you can give thought to each it’ll help you a lot later down the line.