Should You Buy a New vs Used Car

Not so long ago there was only one sensible answer. Cars haven’t always been as reliable as they are today which meant that anyone considering a used car was doing so on the grounds of lower initial cost.

These days, the choice is much less straightforward as both options are perfectly acceptable. If you still aren’t sure on whether your next car should be new or used, maybe this article will help you.

A Comprehensive Warranty

The major plus point to a lot of buyers who are mainly interested in having a car they can rely on is the presence of a robust manufacturer warranty. Some new cars now come with up to 7 year warranties or 100,000 miles, whichever is reached sooner.

The attraction to this sort of offer is easy to understand as manufacturers clearly have faith in their products and will agree to assist in the event there is a mechanical failure or breakdown. This could save an untold amount of money in repair bills as garage labour costs and parts are not cheap.

The other side of the coin is that if a car is offered with a 7 year warranty, then surely if I buy it in 4 years’ time as a used vehicle, it is going to be perfectly serviceable. And you would be correct if you were following that train of thought. Needing nothing other than routine servicing and the replacement of worn out parts, any recently built car should be good for many hundreds of thousand miles.

Your Choice of Finance Package

This is where it does get a little more involved. Certain types of dealership offered finance are only available on new vehicles. If you had a specific finance package in mind, it is likely it will only apply to certain vehicles and for a limited amount of time.

This can restrict your choice when buying used, especially if you need to obtain a significant amount of finance. Less attractive, basic and typically more expensive offers will be available to used car buyers so bear that in mind. 

Value for Money

Value for money should always be number one priority when buying a car, new or used. The aim is to find the car you want whilst spending as little as possible. And in that regard, buying used makes a great choice. Our preference is for nearly new vehicles, anywhere between 3 and 7 years old.

By this point in time, most cars will have done the bulk of their depreciating whilst still being desirable with plenty of life left in them. If you happen to like large engine saloons and SUVs, these are even greater value on the used market, costing a fraction of what they did when brand new.

The choice is yours so visit as many dealerships and showrooms as possible. There are many car yards in Hamilton so spend a weekend looking at what they have in stock. As always, don’t be afraid to haggle and negotiate hard. Push for extras to be thrown in such as 2 years’ worth of servicing and maintenance which is worth hundreds of dollars in itself.

It’s always a buyers’ market in the car industry so go in prepared to get what you want. You’ll likely come away pleasantly surprised.

Related posts

Leave a Comment