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Buying a Car New or Used?
Depreciation When buying a new car it is important to realise that as soon as your drive your car off the forecourt your new car instantly drops in value. It is now seen as a second hand car and could be worth thousands of pounds less. According to results produced by Which it was found that certain cars could lose between 47 and 77 per cent of their value in the first three years. Click here for more information. Costs New cars are cheaper now relatively speaking than they were 10 years ago and with higher specifications as standard we are now getting more car for your money. Also when the Consumers Association highlighted that identical cars could be purchased cheaper in Europe than in Britain the “rip-off Britain campaign” started and with the ending of the car industry’s exemption from the EU competition rules this has helped the price of new cars decrease. Click here for Top tips and best places to buy new cars from. There is now a wider choice of models than ever before where once manufactures only offered different specifications and called them L, GL or GLX not anymore now they are constantly updating their model range. . Life cycle of ownership for the people, who buy new, means they have peace of mind of a warranty and so tend to sell every three years. Therefore, there are more used cars in circulation and so used car prices have become cheaper and so the value of older models tends to decrease even further. The average family car now costs £5,600 a year to keep on the road – up £163 on 12 months ago, reports the RAC. Click here for Top tips on great deals on buying a Used Car. Warranties New cars come with the best comprehensive warranties compared to used cars, although this depends on where you buy your used car from. If it is from a garage it will usually have some type of warranty, however if it is bought from a private seller it will not depending on the age of the car. If it is nearly new then it could still have some time left on the manufacturer’s warranty. For more information New Car Warranties Click here. For more information on Used Car Warranties Click Here Vehicle History With consumer reports readily available it is easy to find out the strengths and weaknesses of each car and can be of great assistance to help you narrow your search. The reports are put together from information which has been built up over a period of time as they get familiar with each car and model, however when a brand new model is introduced onto the market obtaining information is not so easy to come by and so you will be relying on the manufacturers information and reputation from other models. When buying a used car there are a various checks you should definitely consider: 1) To make sure it hasn’t been stolen, 2) Make sure it hasn’t been written off 3) To ensure there is no outstanding finance. Click here for more information Reliability and Condition The perception would lead us to believe that new cars tend to be more reliable then a much older car, however this is not always the case as older cars can be very reliable, not having all the electronic gadgetry that new cars now have. Safety New Cars are being constantly updated with the latest safety and security extras. However, that does not mean that a used car is any less safe or secure, it really does depend on the age and model. There are now ratings for all makes and models and it is worth checking this before you buy. Click here for Information on the Euro Nap Vap Tests. |
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