July 6, 2020 2 min to read
A comprehensive guide to buying a used car
Category : Cars
Used cars are the perfect way to purchase your first car or a car that is significantly cheaper than a brand new car. Purchasing a car brand new is simply not a viable option to many motorists.
You are likely aware and conscious of the significant investment that you need to make upfront when purchasing a new vehicle as well as how the depreciation of your new car leads to a potentially huge loss of money when it comes to finding your next vehicle (reducing around 20-27% by Year 1).
We understand that you may have some questions or maybe unsure when you are looking for a used car from a dealer, especially if you are a first time buyer.
This is why we have written this used car buying guide to offer you some top tips on purchasing a used car and what to look out for and consider when choosing your first or next vehicle.
Any tips or ideas not make our list? Do you have a tip that has really helped you when finding a used car? Let us know in the comments below!
Tip 1 – Used Cars are Much Cheaper Than New Cars
As we touched upon – if you are looking to set a budget and are deciding on whether or not to buy a new or used car – depreciation is a huge consideration to make.
However, if we compare the price of a new car compared to a used car that has been used for 1 year – there is a significant difference in price as well as the fact that there shouldn’t be anything majorly wrong with a vehicle that has only been registered for a year.
You still won’t have to have an MOT for another 2 years and this is a great way to purchase a car that is practically brand new.
As mentioned – a used car is also the perfect way to purchase an older car if you are on a budget such as if you are looking to purchase your first vehicle.
Tip 2 – Do Not Forget About Fuel Efficiency
Another aspect that you will need to consider is how much the car that you are going to purchase is going to cost to run. Vehicles that have higher running costs are going to cost you more over time and these costs can add up!
Smaller engines can be cheaper than bigger engines and petrol is typically cheaper at the pump than diesel. These are all considerations to make when you are looking for the model and specifications of the used car to go for.
Tip 3 – Create a Complete Budget
Following on from tip 2, it’s important to encompass everything that you will be spending on not just a budget for the car itself.
I personally like to recommend creating a budget for 1 year of running costs which also includes the cost of the car but you can create a 3 to 6-month budget or even a 1-month budget if this suits…
Continue reading the article and learn more about used cars on Life Is An Episode website.