There can be no denying that buying a car is an expensive process, and is often one of the costliest things we will spend our money on aside from buying homes and luxury holidays. This expense means that most of us cannot afford to be flippant about the cars we choose to buy and drive, and that goes beyond the initial cost of the car to encompass its running costs and the costs of any regular maintenance and repairs you may be required to carry out.
With all that said, it is easy to run over your assigned budget for your car so you do need to do some research in advance so you will have a good idea of what to expect in terms of cost. For example, you may find a model that is reasonably priced to buy, but needs parts that are expensive to order in and fit, or it may have poor fuel economy and be expensive to run over time.
The trick is to find a car that is both affordable to buy and has reasonable upkeep costs, including MOTs and regular servicing. This might seem like a tall order, but there are things you can do to make the process easier for yourself. The best thing you can do to keep your new car costs within a reasonable budget is to scrap the idea of buying something brand new and to look within the used car market.
The benefits of choosing used cars
There are plenty of ways that drivers can benefit from choosing a used car rather than a brand new one. The biggest reason that most people prefer to buy a used car or van is that they are usually several thousands of pounds cheaper than their brand new counterparts, and this is because cars are notorious for their rapid rates of depreciation following their purchase.
A brand new car may lose around 30% of its value in the first three or four years. If you were to buy one brand new and then sell it after a short period of time, you will be the person who covers the loss in value through depreciation. Smart consumers understand this, and therefore are happy for someone else to own the car during its most rapid period of depreciation.
By choosing a car that is maybe four or five years old, you will avoid this period and will be able to take advantage of a slower rate of depreciation than you would expect had you bought a brand new car. Some of the most popular cars in the market today are Renault, Ford, Peugeot and Vauxhall used cars rather than new ones, and there is always a high demand for used cars that have been looked after well.
Used cars are a great option for families and professionals who are looking for a reliable mode of transportation that they won’t be paying over the odds for, but they are also perfect for young drivers, new drivers, and students. The great thing about choosing a used car as your first car or as the car you learn to drive in is that they usually have some kind of visible wear and tear. This is a good thing, because it means a new driver will not be stressed about ruining the paint and bodywork of an expensive new car while they are still learning and gaining experience as a driver.
Used cars are usually much cheaper to insure than new ones, and this is largely due to the fact that they are cheaper to repair and maintain, and they cost insurance companies less money to fix or replace should they be damaged or written off. This is good news for anyone who is working within a budget when looking for their next (or first) car.
If you are concerned about the quality of the used cars available to you and are worried that you will be out of pocket should you make the wrong decision or find that the car you’ve bought needs expensive repairs then you should only buy from an approved supplier. Approved used car dealerships are everywhere in the UK, and buying a car from one of these dealerships will give you the best peace of mind.
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