There is no denying that one of the biggest investments you will make is your vehicle. However, you can cut the costs of this purchase significantly by going down the used car route. A lot of people are skeptical about buying anything second-hand, especially something as significant as a car. Yet, there are many compelling reasons why you should consider doing so, as you will discover in further detail below…
More car for your money – One of the main reasons why you should consider a used car is because you will get more for your money. Your cash is going to take you a lot further. If you were to buy a new vehicle, you may only be able to afford an entry-level car. However, with the same budget, you can buy something that is better equipped or much more fancy by going down the used market route.
Depreciation – Cars depreciate in value. It is simple as that. Once you drive your new vehicle out of the showroom, it immediately drops in value. In fact, it is predicted that new cars lose as much as 50 per cent of their value within the first three years. This means that the value of your asset quickly goes down the drain, and you will never be able to get back the money that you spent.
Lower insurance costs – As you can see, there are many different ways that you can save money by going for a used car, and one of these is through lower insurance costs. This is especially the case if you go for a low insurance model, such as one of the Vauxhall used cars. After all, if a brand new car gets stolen or damaged, insurance companies are going to have to fork out much more money.
Non-financial benefits – It is also worth considering the benefits of used cars that are not related to money. This includes the fact that these purchases are much less risky in the current day and age because of the easy access to vehicle history reports and the availability of good warranties. It is also worth considering the sheer variety of cars you will be able to choose from. You can buy models that have been discontinued and are no longer available for sale in the new car market.
As you can see, there are a number of different reasons why you should consider buying a used vehicle. If you are looking to get more car for your money and you do not want to suffer substantial depreciation, a used car is a must. You simply need to make sure that you are thorough during the buying process and that you choose a reputable seller.