Buying a used car is always going to be much better value than buying a new car! That’s because new cars lose a hefty percentage of their list price as soon as you drive them off the forecourt and on used cars, the depreciation curve is far less severe!
When buying a used car, look for cars 3 years and older. Based on depreciation, cars that are 3 years and older will usually offer you the best deal.
In this guide, we give you some great tips on the things you should consider when buying a used car…
First things first, work out a budget. It’s always better to know how much you have to spend before going to look for a used car. If you are looking for finance, do your calculations first. Work out how much deposit you have, whether that be in cash or a part exchange, and then work out what you can afford to pay each month. You then have a good idea of your budget when you begin your search.
What do you need?
This will depend on the size of your family and what you will use the car for. If you just need a car for work and social use, a small hatchback may suffice. If you have a family then space may be what you need, so a large saloon or MPV with lots of boot space may be more appropriate! Writing a list of priorities can help you to determine what you need from a used car, and how much you need to invest.
Consider running costs
In addition to the cost of buying the car, you need to consider the running costs. Depending on the type of car you need, the running costs can really vary. Doing your research to find out the fuel economy, car tax, and insurance group can help you to decide if the car you want is affordable.
Part Exchange your current car
If you have a car you would like to part exchange, and you are buying from a reputable used car dealership, you should be able to get a valuation on your current car from them. You will then be able to use this as a deposit against your new one.
Consider your best option for payment
There are many ways you can opt to pay for your used car depending on your circumstances. If you are able to pay in cash then this is the cheapest way. You should be careful not to carry large amounts of cash around with you so paying with a debit card or by bank transfer is usually safer. If you are paying by cash make sure it’s a reputable dealer, particularly if you are paying in cash or via a bank transfer.
If cash isn’t an option many used car dealerships will offer car finance which will allow you to spread the payments over a longer period. There are also other options such as personal loans and credit cards, but depending on the interest rates, low rate car finance may work out cheaper.
For more information on buying a used car, visit our website. AvailableCar is a family run business established for more than 15 years. With over 5,000 quality used cars in store and on our website, you can be sure to find the perfect AvailableCar for you! We have low rate finance available with fixed monthly payments and more than 30 different brands to choose from, all under one roof!
Be sure to ask about our unique AvailableCar Price Promise as this guarantees you the very best value when you buy your used car from us!
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