New vs Used Car Buying Guide

If you are buying a car in the UK, there are two main options. You can either choose to buy a new car or a used one. Both options have advantages and disadvantages, and that’s what we are going to discuss in this article. Should you save up until you get that latest BMW I Series or go for a used one? Let’s find out.

New Cars in the UK

The new car market in the UK is not very stable, with 2.31 million new passenger cars registered in 2019. While this was just a slight decrease compared to the previous year, it’s a 14% decline. But that doesn’t mean buying a new car isn’t worthwhile. Here are the advantages of purchasing new vehicles, as well as the shortcomings.

Buying a new car gives you the guarantee that you have a reliable car to last you for at least a decade. One of the problems of used vehicles is underlying mechanical issues that will make you a daily client at the garage. With a new car, you also get to enjoy the latest, and features as far as performance, infotainment, safety, and convenience are concerned.

On the downside, new cars will set you back more compared to used cars. For example, a 2020 Ford Fiesta costs around £13,000 for entry-level ‘Style’ models but you can get the same used car, say a 2013 model at less than £7,000. But then, it’s easier to get financing for a new car.

Used Cars in the UK

While the average new car is more expensive than a used car, the used car market in the UK is more significant, just as in all markets. In 2018, there were close to nine million used car sales. 2019 had a slow start, but in Q3 2019, sales volumes had grown by around 20,000. Below are the advantages and disadvantages of buying used cars in the UK.

When it comes to used cars, there’s obviously the aspect of affordability, but besides that, it’s cheaper getting insurance. Now that you are buying a more affordable car, expect lower insurance costs. Also, at least with used vehicles, you can get the car you’ve always admired, though not the latest model.

On the downside, there’s the risk you are buying a car with some serious mechanical issues, or in the worst case, a salvage.

What’s the Best Option?

There you have it folks, the good, the bad, and the ugly of buying new and used cars. At the end of the day, new cars are better because you get to enjoy the latest features from the respective car manufacturer. Also, you are sure everything is intact, and there’s a warranty, of course. But that’s not to say there are no good deals when it comes to used cars. With the right second-hand car dealer and due diligence, you can snap up a great deal.

Leave a Reply

Your email address will not be published. Required fields are marked *