As most drivers will agree, having a car can be a tremendous help in your day to day life. If you have to travel to and from work, ferry the kids around, or need to get around to visit family and friends, having your own vehicle provides total ease and convenience. However, not everyone is able to – or willing to – purchase a brand-new car.
Well, if you don’t want to opt for a new vehicle, your other option is to purchase a used vehicle. This is a solution that offers a host of benefits, with many people choosing to purchase used vehicles rather than new ones.
Of course, you need to ensure you do your research and carry out some checks in order to ensure you get a safe and reliable used vehicle. Once you find the right one, you can look forward to many benefits.
Some of the Key Benefits
So, what are the benefits of opting for a used car rather than choosing a brand-new vehicle? Well, there are lots of advantages and some of these include:
Costs Less Money
One of the major benefits of buying a used car is that it will cost you far less money than buying a brand new one. If you have limited funds or you simply don’t want to get into debt for thousands of dollars, a used car could be the ideal solution. This is a great option for those who do not have enough cash or cannot get the finance to purchase a vehicle from new. It is ideal for new drivers who are initially more at risk due to their inexperience of having a few little accidents, bumps and scratches or possibly costly damage to their car as they get into the swing of driving alone.
No Massive Depreciation
As many people know, the initial depreciation on cars is massive, with the value of the vehicle plummeting as soon as it is driven away. Depreciation, however, becomes your friend when your looking to buy a used car.
When you purchase a brand-new car, it is you that takes the hit on this depreciation. However, if you purchase a used car it has already taken this significant hit, so you won’t have to worry about dealing with plunging value levels.
Of course, the vehicle will continue to drop in value as it gets older and the kilometres driven get higher, but you won’t lose anywhere near as much as the person who first purchased the car new. A car can suffer the most hit in depreciation in the first 3 years of ownership.
In addition, you no longer are subject to the one off costs associated with purchasing a new car such as Dealer Delivery fees, Luxury Car Tax and the full cost of extras added to the vehicle. These costs in a used car have already been absorbed.
If the used vehicle is still relatively new, you can also take advantage of the balance of factory warranty that is still available. Many car mainstream manufacturers now offer original warranties of between 5-7 years. This has now made buying a relatively new used car more attractive.
Plenty of Choice
You can look forward to plenty of choice when you opt for a used vehicle rather than a new one. In fact, you may find that there are many models that are out of your price range from new but within your budget when purchasing used vehicles. This means you are more likely to get the vehicle you really want rather than having to settle for what you can afford on finance with a new car.
Buying a used car may enable you to purchase a higher spec model with more options and luxuries for your budget compared to buying a similar new base model car.
In addition, many of the safety features such as Autonomous Emergency Braking (AEB), Lane Departure Assist (LDA), Blind Spot Monitoring (BSM) may only be available in top spec models within a current range and not in new base models.
Dealerships or Private Sales
Purchasing a used car provides you with greater flexibility in choosing where you can source your vehicle.
Some people purchase their used vehicle from a private seller by checking online and print ads or even seeing a for sale sign in the car window. People are different and some prefer dealing with sellers in the private market as they can feel less intimidated than they might be in the dealer market. Some buyers may have had some poor past experiences in purchasing a car from a Dealer. The opportunity to get a better price in the private sellers market attracts many potential buyers even though there may be more potential pitfalls and risks if you do not carry out proper inspections and due diligence.
These risks can be reduced if you have good mechanical knowledge and stick to a strict buying criteria of buying quality, well maintained cars with full service histories. In addition, you can get reputable third party service providers to carry out Pre- Purchase Inspections and provide comprehensive reports on the condition of the car you wish to purchase at a small cost.
Others, however, decide to get a used car from a dealership, as this comes with certain perks. This includes being able to get vehicles that are serviced before sale and have a statutory mandatory warranty (albeit a short one) for your protection and peace of mind.
Going to a Dealer to source your car can be convenient for some buyers as in one place or location it can provide you with a range of cars to test drive and choose from. Especially if your not quite sure what you want. Also no bookings required, you just drop in when it’s convenient for you.
It also provides another avenue to source finance if funds are tight or you can not obtain finance from other finance institutions. Most Dealers are able to arrange finance in house for a potential purchase. This is not an option in the private used car market and therefore can exclude some buyers from purchasing a car in this market.
Lower Insurance Costs
Finally, you can look forward to lower insurance costs when you purchase an older vehicle rather than buying from new. This can save you a fortune in premiums each month and is another perk of buying a used vehicle.
Find Out More Today
If you want to learn more about the benefits of buying a used car, get in touch with the friendly team at My Next Car Buying Advocacy. Whether you intend to buy a used or a new car, our Car Buying Advocacy Services will ensure that you always end up with the Right Car at the Right Price.