We look at the advantages and disadvantages of each choice to help you determine which one is best for you…
Every each year across the UK the sales of used vehicles outnumber new purchases by about three-to-one. However, that doesn’t mean that buying a used car is the best option for you.
This article will examine the pros and cons of both alternatives. We also consider the third option – purchasing a brand new car.
The main advantages of brand new automobiles are threefold. You can first select the specifications you’d like. In addition, you’ll have the assurance of a comprehensive warranty if something goes wrong. In addition there’s no past to worry about.
They’re not the only advantages from buying a new car, however. The latest cars are equipped with the most advanced technology and the benefits of this shouldn’t be overlooked particularly in the fields that concern fuel economy (where massive advancements have been made in recent years) and security.
On the other hand there is also the fact that the majority of breakdowns in modern vehicles stem from electrical problems that aren’t easily fixed by the roadside.
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About eight million used vehicles that are sold in a normal year. The vast range of options is the best reason to consider purchasing a used vehicle.
Another advantage is that you do not take the financial cost of depreciation, which is around 20% of the new car’s value will be lost the moment it leaves the showroom. A few new cars are priced at or above half the cost of purchase after three years. However, most will lose between two and three-quarters the value.
The increasing length of warranties from the factory has also added attraction to pre-owned automobiles, increasing confidence for buyers of previously owned vehicles.
Over half of all automobile sales handled by dealers. The most desirable used vehicles tend to be found in the approved used schemes of manufacturers. It’s more expensive to purchase them but the overall experience isn’t all that different from purchasing a brand new car.
A non-specialist however, a reputable dealer will be higher than buying from a private dealer However, you will be able to receive a decent backup in the event that you encounter problems.
Private purchases can offer lower prices, whereas buying auctions are generally the most cost-effective way to buy an used car, however real bargains are scarce and buyers face little resistance with sellers.
The main drawback of buying used is uncertainty regarding the car’s past. “Clocking,” also known as tampering on the mileage that is recorded is still a concern. In ideal circumstances, a car should have a full service history In the event that it does it doesn’t, you can purchase some assurances by obtaining an inspection of the history.
Buy brand new or nearly new
If you are buying a brand new car it’s likely that you’ll get an automobile from the dealership’s demonstration fleet or from their ‘pre-registered inventory (cars that were thought to be purchased by the dealer to achieve sales goals).
On one hand this model is the ideal combination of both. It provides all the advantages of fuel-efficient, modern and secure vehicles, yet it also takes away a large portion of that “out of the showroom depreciation.
The drawbacks are the addition of a name appearing on the registration form that will reduce the value of the vehicle’s resale – and the limitation of choices. As for the specifications, you are given what the dealer decides is the best option for both the appeal of a demonstration and the ease of resales. They’re able to determine what consumers want and this isn’t an issue.
The majority of new cars have travelled some thousand miles. It’s not enough to make an negative impact on their appearance or performance however enough so that they can take the fresh car’ sensation away. For some, this is enough reason to stay clear of them. Others will appreciate the savings they provide when compared to buying new.
It is important to verify the date of manufacture for an already registered car with the dealer prior to deciding to make a purchase. It’s possible to think that you’re purchasing the car in 2016 however, it could be an older model. This is likely to reduce the value of the vehicle when it’s time to selling it.
The most important thing to remember when purchasing a car is to create the budget and stick to it. It’s a market for buyers. If you’re not able to reach an agreement on the car you’ve been dreaming of But don’t fret, Somewhere, there’s a second one that’s as good.