Monday, 3 March 2014

Which Is The Cheaper Option – A Used Car Or A New Car?

This is a question often asked by consumers. At first it may seem that the answer is that a used car is cheaper, but this is not always the case. It is dependent on the type of car you are looking for, how old it is, and upon how you will use it. In truth, the difference in price between new and used cars is not always significant.

Used cars – They are obviously much cheaper than brand new cars. However, if they are more than three years old, you should have a trusted engineer look at it so ensure the engine is in good condition and that it has been properly serviced and maintained. Buying a very old car can cost you in the long run because of the ongoing expense of fixing it and replacing old parts. Unless you are a car enthusiast looking for a truly vintage model, or you are highly knowledgeable about cars, it is not advisable to buy a car over ten years old. Used cars seldom come with warranties. Some may, if you buy them form a dealer, but for individuals who buy cars direct from a previous owner, there will be no warranty protection. Check the mileage of the car too. Often cheaper used cars have much higher mileage figures and this can indicate wear and tear on the engine. You must also make sure the vehicle has not previously been in a car accident. Used cars are not usually available to purchase on finance unless you are buying f
rom a large dealer, in which case the prices may be higher than those found in private sales.

New cars – New cars can be purchased for cash, or on finance. If you are able to get a low percentage finance deal and some money off for a deposit or trade-in on your old car, this can be a frugal option. Brand new cars or cars that are less than two years old will be sold with a warranty if you buy from a dealer. In addition, they will have much lower mileage figures so you will be getting a virtually brand new car at a much cheaper price. Many car enthusiasts believe that cars are at their best when they are about a year old. This can be true, if it has been properly serviced and looked after. A brand new car does not need an MOT until it is three years old. You will receive a warranty with your car as the first owner. This can be anything from one year to five years.

Shop around to find out what the latest deals are.


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