Those in the market for a car will find themselves faced with a choice between three competing categories. There are cars which have just rolled off the production line, there are cars which have already had one or more owner, and there are cars which offer a compromise between these extremes, having had some light use in showrooms and elsewhere.
So, why might each of these options appeal, and which is right for your needs? Let‘s look at each of them in turn.
Pros and cons of buying a new car
New cars can be specced exactly as required. If you want a car that comes in a specific colour, then you can just order one. The dealer will be able to match you with a car that precisely matches your requirements.
You‘ll also get the privilege of knowing you‘re the very first person to use the car, which can be reassuring. You‘ll know that there‘s been no possibility for the car to have been mishandled, and that you‘ll be entirely covered by a generous manufacturer warranty. You also won‘t need an MOT for three whole years.
Of course, all of this comes at a price. New cars are expensive. Moreover, much of the value of your car will be wiped away by depreciation, which is at its most acute during the first few months. New cars also tend to be more expensive to insure, which is why it makes sense to shop around for a favourable car insurance quote. You might also find yourself waiting for several months for your car.
Pros and cons of buying a used car
If you buy used, then you‘re largely missing out on that depreciation we mentioned. That tends to mean that you get much more car for your money. In certain cases, you might even buy a used car to find that it appreciates in value over time. You‘ll also be able to drive your car immediately, since there‘s no need for it to be manufactured.
There are some downsides to weigh, however. Used cars are already in existence. There‘s no scope for modification and extra trim – you can only buy what‘s on offer. As such, used cars don‘t offer quite the same flexibility as new ones.
You‘re also more likely to run into problems with wear and tear, and the cover you enjoy won‘t be as extensive. For best results, shop with a reputable used dealer, and make sure that you’ve thoroughly inspected and test-driven your purchase.
Pros and cons of a nearly new car
So, what about nearly-new cars? These are the kind which have been registered by manufacturers or dealers. They tend to have very few miles on the clock, even if they are technically used. Those that have been test–driven will have less than a few thousand miles on the clock; those that haven‘t can have as little as a few dozen.
The main thing to mention here is that you won‘t get a chance to customise the vehicle. However, you will get all of the savings you might associate with a used vehicle. Make sure that you check the car’s VIN, which will tell you exactly which model you‘re dealing with. Don‘t make assumptions based solely on the number plate.
You’ll need to be slightly lucky to find a bargain here – but there are certainly bargains to be found. If there’s a car that matches your needs, jump on it before someone else does!
