When buying a car, the headache is, should you buy a new or used vehicle? While many prefer buying new, used cars can be a worthy choice. In this article, check out the benefits of buying a used car over a new one.
A Used Car is Affordable
One of the most significant benefits of buying a used car is the lower initial cost. For example, while a brand new Vauxhall Corsa will set you back anything between £18,015 and £26,750, depending on the trim, you can get a used one in pristine condition with a budget of around £8,000 to £10,000.
You Can Go Big
Another advantage of the used car market is that you can choose to go big and drive your dream vehicle. For instance, affording a 2022 Mercedes CLS will break the bank. But you can still enjoy the elegance of a Mercedes Benz without spending a fortune if you consider buying a used one.
Ask the experts. They will tell you that a new car depreciates faster within the first year or two, and then the depreciation slows down as years progress. Having said that, buying a used car is the best option, as you won’t take a massive hit in terms of depreciation.
Low Insurance Costs
Lastly, a used car attracts lower insurance costs. As you may be aware, insurance premiums depend on the car’s value. The higher the car’s worth, the higher the premiums, and vice versa; it’s that simple.
That’s it, folks, the advantages of buying a used car over a new one. But there are disadvantages too; for example, securing financing now that banks are more likely to finance new cars than used cars. Used cars also have gone through wear and tear and lack the latest features. But all the same, they are worth the money if you buy from a trusted dealer.