It is well known that a new car’s value depreciates as soon as it leaves the dealer forecourt. The first year is always the worse. The obvious result of this is that used cars can often be significantly cheaper, even if means they have lost that initial new car allure and of course they have a history that can easily be verified by doing an HPI-check. These are established facts but there are even more reasons why buying a used car makes sense; and here they are:
Pre-owned Cars Have Data
Car manufacturer’s refresh or renew their model ranges every five to seven years or so. Such upgrades might just be styling changes but may also include new engines, gearboxes or sundry other mechanical parts. They are an unknown quantity. The benefit of this when it comes to used cars though is that all the existing data on reliability and any other possible issues is already available with a bit of research and the buyer can act accordingly.
A Longer Life
Thanks to modern production techniques cars are lasting longer than ever, both physically and mechanically. Once a high mileage would scare off potential buyers but these days cars that have been properly maintained should not, within reason, be anything to worry about as far as the number on the odometer is concerned. Provided that the bodywork has been similarly looked after there is no longer any need to fear the dreaded rust either.
New car depreciation is a boon for the used car buyer. A limited budget for a new car means base level trims and a wary avoidance of desirable but expensive options. Purchasing a used motor for the same budget will bring into range motors that are much better featured, maybe even with desirable leather trim and useful technology like satellite navigation, climate control or app connectivity. Value for money in other words.
Every year many new vehicles come on the market as others are discontinued. The used car market features a much wider variety as the stock has vehicles that offer the latest technology or offer personal preferences that have been have left behind in the rush to be the latest thing. The perfect car may be a few years old but has features that suit personal choice. This might be, for example, a luxury saloon car lost in a sea of modern SUV’s.
Insurance cost is always a factor, especially for younger drivers. Naturally, Contributing factors will first and foremost be age and/or driving record and experience but also factored in is the car’s value. The more market value a car has, the more a car insurance provider has to fork out. In short, a used motor is going to cost less to replace than a brand new one. At worst, lower insurance premiums can help offset other running costs, like a slightly higher VED rate, for example.
Here at eCars247 our vehicle information pages provide all the relevant details about our varied vehicle stock, coupled with buying options. Buyers searching for a specific brand or model can visit our Home page, that’s the place to start with our ‘Find My Car
’ feature. Alternatively have a trawl through our easy-to-use listings which provide all the facts and figures. Your next car could be just a click away.