A new car always delights its owner and brings a smile on his face that stretches from one ear to the other. The used cars are not as favoured as new cars but the motorists normally don’t sneer at them. In fact, a whole lot of them in the UK grab themselves old cars.
The 2014 Market Report for used cars, released by the Centre for Automotive Management of The University of Buckingham Business School shows a sharp increase in their market volume between the years 2009 and 2013.
Wondering what contribute to this surge? That's precisely what we are going to discuss in this article. So keep reading.
Used cars save money
The world revolves around money. And used cars let their owners save buckets of it. The cost of a used car is pretty less compared to a new car. If you are taking a loan, the down payment would be at least 10% of the total amount borrowed. And don’t forget the accumulated interest, which will make the amount you owe the bank even heftier.
Don’t want to be financially neck-strapped? Then purchase a used car. Other than saving you from a massive initial cost, those cars can help you avoid depreciation. This is a crucial parameter that car owners often forget to consider when estimating how much an old car can save them.
The moment your new car lands on the road, it starts to lose value. Some models undergo faster depreciation. Two years down the line, its value will be at least 30% less than its original value, implying you'll never get a satisfactory return of the money that you have invested in a new car.
The CPO programme
The programme is relatively new and exclusively for used cars. Two known auto brands Lexus and Mercedes-Benz started it, but soon after, the majority of car manufacturers adopted it. The following are some of the advantages of the programme:
- A CPO car is typically a late-model and a low-mileage one. Such cars never met any major collision on the road. They don’t have any major damage either.
- The certification programme is quite rigorous. Auto experts inspect a vehicle and check whether its mechanical and cosmetic items are all up to the mark. Since a CPO vehicle has gone through this process, you can fully rely on its performance and technical setup.
- You can expect a loan at a lower rate if you are buying a CPO vehicle. That's because manufacturers run special financing programmes for those cars.
A myth debunked
It's nothing but a myth that a used car will give out within six months from the day you drove it first. As a matter of fact, there are many cases where used cars showed more sustenance than new cars.
All you need to debunk this myth is to get yourself a scratch-free car (or may be with minor scratches). It's not uncanny to find one if you know how to shop around for cars. Manufacturers these days build cars that can last after driving 100K miles. Just make sure the technical parts are all okay, which you can by subscribing to the previously mentioned CPO programme.
Besides, the manufacturer's warranty can also act as your safeguard. Just avoid buying the car from its current owner. Buy it from a manufacturer's dealership and enjoy the warranty. If the car renders good service even after the expiry of the warranty, then that’d be Christmas bonus for you.
Avoid cunning dealers
You need to avoid dealers because they can justify unnecessary costs. In other words, they'll make you spend extra for no legitimate reason. Ask yourself whether you really need to pay shipping charges when you already know driving. Or is the rust-proofing essential for your car?
If you have a spark of intelligence, the answer that you are going to get is "No." When buying a new car, avoiding a dealer is tough, but with cars, used already, you are hard to come by one.
At the end
The lengthy discussion above highlights the advantages of an old car. You can save money, keep some nagging problems at bay, and yet enjoy a smooth driving experience. So next time someone advises you to buy one, take his advice in stride.
Contributed by : http://www.plates4less.co.uk/