Why Is Buying a Used Car Better Than Buying a New One?

The ability to go wherever, whenever, and travel beyond the home city comfortably is one of the many reasons that people buy a car for.

Before making a big purchase, a buyer should mull over a series of pertinent questions. While purchasing a four-wheeler, people often feel overwhelmed and uncertain while deciding whether they should buy a used-car or a new one.

Here are four reasons that explain why buying a used-car is a better choice: 

Light on Your Pocket

If we look at used car sales, the UK car industry experts state that there has been a substantial surge and second-hand cars are flying off the shelves compared to the newly-launched models. 

The primary contributing factor is that used-cars are far more economical than the brand-new ones. How economical? Take for instance: a new Nissan Juke Connecta starts at £18,000+. On the other hand, a used model of the same car (current year) on portals like Hertz Rent2Buy is available for around £12,000!

Competitive Financing Rates

A wide range of financing options with favourable interest rates is available to new car buyers. 

However, with the growing popularity of used-cars, many financial institutions and car manufactures, such as Lexus and Audi, have rolled out tailor-made finance solutions for certified pre-owned cars.

Do your research and speak to multiple loan providers to find the best finance option. In addition, you should buy only from reputed car rental companies to get a good deal.

Less Impact of Car Depreciation

Car is a depreciable asset and the value of your four-wheeler depreciates by 20% in the first year of the purchase. In fact, a car’s value deflates by 10% immediately after you take the possession.

Fortunately, the depreciation rate drops down to 10% from the onset of the second year. As a result, the impact of car depreciation on used-car buyers is low.

You should ensure that you select the model carefully and choose top/popular brands as it affects a car’s depreciation rate. 

Practical Choice for First Time Drivers/Students

If you have just started driving, then acquiring a second-hand vehicle makes practical sense. The economical aspect is also known to all and has been widely discussed. 

However, you can also iron out the kinks in your driving skills and work on your confidence behind the wheel without stressing about scratching your expensive new automobile.

Car rental companies provide vehicle history reports that allow you to analyse the motor car’s reliability, performance, and any other probable cause of concern.

A few reliable rental firms also offer 4-5 days test drive service. Therefore, used-cars could help reduce anxiety while driving as opposed to navigating a new machine. 

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