3 Must-Know Tips Before Investing in a Used Car.
Just in the UK, there are over 7.9 million used cars in circulation. And, undoubtedly, for some drivers, a used car is certainly a great alternative. Indeed, if you are looking for a reliable vehicle for your daily commute, a safe option for your kids’ school run, or a comfortable car without the latest luxuries, a used car might be the perfect option for you.
And, of course, there are some added benefits to this choice, including the low initial price, the range of accessories you can enjoy for less, and the reduced environmental impact of choosing used over new.
At the same time, buying a used car is extremely different from buying a new vehicle, and it is important to set the right expectations. Check out some must-know tips to keep in mind before going ahead with your choice.
Be Aware of Hidden Costs
If you are looking at the benefits of buying a used car over a new model, you will know that the greatest advantage is its low price. But where does such a low price come from? The first aspect to consider is depreciation – or the loss of value that happens over the years or because of events such as accidents.
In the UK, it is estimated that your new car will lose up to 11% of its value the moment you drive it off the dealer’s lot. And, your vehicle is likely to continue losing around 15-20% of its value each year. At the same time, after 8-10 years on the road, a car’s depreciation will drop and its value will stabilise. So, buying a used car can help you retain your investment for longer.
While the cost of the initial purchase is an important factor, you should also keep in mind that there are some hidden costs associated with used cars. For example, the cost of repairs and maintenance might be higher. And, depending on the kind of car you have invested in, you should also factor in insurance costs and fuel consumption.
Keep It in Tip-Top Shape
Once you have decided that learning to drive is the right choice for you, the next step is to find the right car for your needs. However, not all cars are perfect for all drivers. Indeed, if you are an expert driver and you know a lot about cars and the way they work, you might opt for a car that requires more care and attention.
However, generally, you should always prefer cars that are easy to maintain. With used cars, the cost of maintenance and repairs might be higher than in the case of new cars. Nonetheless, you might still be able to find cars that come with necessary warranties and guarantees. In this case, you won’t have to worry about breakdowns!
Find the Right Specialists
With new cars, you can be sure of what you are investing in. However, when buying a used car, you might not know everything about its history and conditions. In this case, there are two important specialists you need to network with:
- Specialised dealers – specialised dealers such as Volkswagen breakers can help you find the right pieces and parts for your car, and make sure it keeps its value and style throughout time.
- Certified dealer – when buying a used car, you should always buy it at a certified dealer and never from a private.
And, don’t forget to take your car for a test drive before buying it!