Buying a used car was once seen as a distinctly second-rate option. Not anymore. Are used better deals to buy then? New car dealers feel the pressure to make better offers on new ones… New or Used Cars – Which Are Better to Buy?
Buying a used car was once distinctly a second-rate option.
Your first car might have been a used vehicle. Some old banger that you wouldn’t mind bearing the brunt of your embryonic driving skills. After that, you’d want new all the way.
However, used cars are an increasingly inviting option. The pre-owned vehicle sector claims a more and more significant share of the auto market. Car dealerships are responding to this. They’re trying to win back customers by offering more favorable terms and special deals on new cars.
Both new and used cars have their advantages.
A new car is typically more reliable than a used one. They have less breakdowns and mechanical glitches. On a used car they can cause a lot of inconvenience and expenses. Used cars of dubious provenance can be a false economy. Hiding hundreds or thousands of pounds-worth of future repairs.
Another factor to consider is the rapid advance of technology. Buying an older car means that you won’t get to benefit from recent improvements. This can affect how economical your car is to run. There may have been significant improvements even in the space of two or three years.
On the other hand, it’s possible to buy used cars that are certified. Some models are particularly reliable and these often retain a large proportion of their future resale value. It is cheaper to insure a used model because the car’s value is lower. The Internet also makes it easier for you to track down quality used cars with low mileage and good provenance.
Not all changes made by the manufacturer between model years are necessarily for the better. You might find a feature that was written out recently more desirable than the current version. For example, maybe you’d prefer to have a manual transmission but the manufacturer no longer offers this in the car you’re looking at. Choosing a used car also lets you explore more high-end options. Otherwise you wouldn’t be able to afford it. You could purchase larger, higher-performance or more luxurious vehicles within your price range. If you’re a fan of luxury you might have the choice of a used Lexus instead of a brand-new Toyota.
In the end, the choice between new and used largely comes down to resale value.
All cars begin to decline in value as soon as you drive them off the dealer’s forecourt. The drop in value of a second-hand car is much less. It as already lost the largest dollar amount of its value.