Automotive

Should you Invest in Used or Brand New Cars?

CarWhile the global economy remains on a slightly uneven keel, the rate of new car sales has exploded in developed economies across the world. After 18 consecutive months of expansion within the UK market, for example, now America has returned to double digit growth for the first time since 2012. This is also reflected in the rapidly rising levels of consumer borrowing in Great Britain and the U.S., where confidence is beginning to emerge from the gloom of continued austerity and economic gloom.

Buying a car is always a momentous occasion, however, and one that demands a great deal of consideration. This is especially true if it's your first car, but with the purchase of any vehicle always comes a sense of excitement and anticipation that you'd be hard to match elsewhere. Unfortunately, before you can get to that point you have to go through the often complicated process of buying a car, and on occasions this can be extremely challenging a far more expensive than anyone would ever hope for.

So while the lure of a new car is always exciting, it may not make financial sense when you consider the value and flexibility offer by used models. This is something that demands careful consideration, especially if you are a novice driver who is new to the market.

Buying a Car in 2013: Exploring the Market and Finding Genuine Value for Money

With this in mind, what are the key considerations that motorists must take when entering the market for a car? Keep the following in mind at all times:

New Cars vs. Used Cars

One of the first choices you'll find that you have to make is whether to buy a new car or a used car. But whilst this may seem like an easy choice, it's actually a lot more complicated than most people realize. At first glance, a new car may have many advantages over a used car - no miles on the clock, a clean history, a shiny new coat of paint - but new cars can be tricky to assess given that they have no service history. Conversely, a used car may be significantly cheaper to both buy and insure, but it's not always easy to find a reputable trader and it may look a little shabbier than you would have liked.

Unraveling the Myth of the Used Car Dealership

Nevertheless, when it comes down to choosing between a new car and a used car, it's more often than not the case that, unless you've got lots of money to throw at a brand new machine, the used car always wins hands down. The reason for this is fairly simple. Despite all of the pitfalls of buying a used car, they can be easily overcome provided you're able and willing to apply yourself to avoiding them. For example, the number one reason why people shy away from purchasing a used car is because they don't trust the reputation of used car dealerships.

Despite this, it is pretty easy to make sure that the dealer you go to has good credentials, as any reputable dealer will be more than happy to point you to satisfied customer testimonials, as well as their professional accreditation. Not only that but in this world of free online media, used car dealerships will often get covered by independent reviewers, who can be counted on for good, solid advice.

Why Used Cars Represent Better Value for Money

So, is it ever worth buying a new car? In this day and age, the answer is: not often. Because when you can get a great deal on a used car from a reputable dealer, why would you choose any other option?

This article was written by Jordan, who currently works alongside online retailer Exchange and Mart in the UK.

A post by J P Lansdale (13 Posts)

J P Lansdale is author at LeraBlog. The author's views are entirely his/her own and may not reflect the views and opinions of LeraBlog staff.

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