Investing in a new car can involve a significant outlay. As well as having to pay more up-front, you’ll also have to stomach the fact that, within the
Investing in a new car can involve a significant outlay. As well as having to pay more up-front, you’ll also have to stomach the fact that, within the first few days and weeks, the value of your purchase will plummet, thanks to depreciation.
Fortunately, there’s an alternative: you can shop on the used market, instead. In doing so, you’ll be able to save money (often a substantial amount) while enjoying a broader array of options.
What Classes As A Used Car?
You might think that a used car is a simple thing to define: it’s a car that’s already been used. But that doesn’t tell the whole story. There’s more variety within the used category than between the used and new categories! If you’re driving something that’s previously been used only on a showroom floor, then you’ll have a very different experience to someone who’s driving a car that’s been on the road for decades.
Where To Buy A Used Car From
Among the more important considerations is the seller. If you don’t know the car’s previous owner, then you’re exposed to risk. In certain cases, however, you’ll be protected.
An approved used dealership will have an arrangement in place with the manufacturer. You’ll pay slightly more, but you’ll enjoy the protection that comes with this level of cooperation. If you’re looking for a used BMW, for example, you might go to an approved dealership.
Used Car Garage
A used car garage has a physical location from where many used cars are sold. If something goes wrong, you’ll be able to take it back and demand a refund. The difference is that the used garage won’t be approved by the manufacturer – and they might not know too much about the condition of the car they’re selling.
Online vendors like Cinch and Cazoo will be able to sell you a used car, often for cheaper than you would have paid elsewhere. This is because you don’t have the cost of physical premises to contend with. This is a route that can help you to save money – but you’ll want to be sure that you inspect the car in question.
From the previous owner
If you buy directly from the previous owner, then there’s no middleman. Potentially, the savings could be dramatic – but you’ll have limited scope to deal with problems. Make sure that you’re aware of the risks before you buy!
What To Look For: is it a good deal?
What looks like a good deal on the used market can later turn out to be anything but. Make sure that you carry out a thorough inspection of the car, inside and out. Look under the hood and check the condition of the engine. Take a look at the exhaust while the engine is running. Listen for any unpleasant sounds during the test drive.
Finally, you’ll want to ensure that the documentation is dealt with. If you fail to do this, then you won’t be the car’s legal owner in the end!