BUYING NEW vs USED CARS
Used car sales outnumber new car sales 3:1 - But what really are the main PROS and CONS these days of going either way?
FIRST OF - BUYING NEW:
1) Buyers get to choose the exact specification that the model of the car can offer (Pretty straight forward)
2) Full warranty package & (depending on dealership) - incentives to make the deal seem sweeter (Hence, also no unknown history).
3) Up to date technology & safety systems - however, in terms of situations when cars break down there's a higher chance it will be due to the electrical fault of the car (which can sometimes not be resolved at the side of the road).
NOW - BUYING USED:
1) Around 8 million used cars are sold in the UK each year - so there's definitely plenty of choices.
2) No financial investment hit - around 20% of a new car's value is gone as soon as it leaves the showroom (Depreciation) - Only a few new cars are worth more than half of their original value after 3 years of being on the road...
3) Remaining manufacturer's warranty balance - what can be better for your peace of mind when buying a used car, than having 2, 3 or more years of manufacturer warranty left over? - It's fantastic to know that if something happens to your new used car - you won't have to spend hundreds on repairing it (P.S Hyundai unlimited warranty is for 5 years ;) )
4) More than half of used cars are sold by car dealers - it might be a bit more ££ than buying a car from a private owner, however, you can be more reassured about the quality of the car - as a used car dealership will ensure you still have customer service support, free expertise & after sales support - and they won't 'disappear' forever after you have bought a car (P.S We would recommend checking out the reviews of your local dealership - to see what other customers think of them :) )
5) The biggest bargains and the biggest risk - auctions! - unless you count yourself as a vehicle guru or if you don't have a great amount of knowledge of the vehicle your keen to purchase - we wouldn't recommend that your first option would be to engage in auctions (unless you know someone that has done it before)
6) The only/biggest downside is knowing the history of the car - now if the car is only 1-4 years old (the risk is fairly low), however any higher than that - you might want to ask the previous owner/ dealership about its previous owner and its mileage history!
We hope this comes in handy and you can make the right choice!
- Your Premier Team