Key Advantages of Buying a Used Car
Advantages of Buying a Used Car
2022 has been an exceptional year for used cars. From the global chip shortage preventing the completion and sale of tens of thousands of new cars and causing delays into 2023, to the boom in drivers buying used cars instead of using public transport due to COVID, used cars have rarely been so popular.
The recent boom in electric cars means a wider range of petrol and diesel used cars in the marketplace, as well as a new influx of slightly older electric cars to add to the mix.
Why Should Car Buyers Consider Used Cars over New Cars?
Buying a used car holds significant advantages over buying a brand new car, depending on your priorities, but often the reasons drivers give for buying brand new also apply to used cars when you buy from a reputable used car dealership.
When you buy a new vehicle, it loses 10-20% of its value the minute you drive it off the forecourt, and cars typically depreciate up to 60% by year three, based on 10,000 miles per year and good condition. That's a lot of cash.
The good news for used car buyers is that they benefit from this decreased value by paying substantially less for a car under three years old compared to buying a new car. This is one of the key advantages of buying a used car, and the biggest reason people buy used.
Buying a used car makes your money go further
If you have a set budget, you may be limited to the number of new cars available within your range. Buying a used car can open up a plethora of buying opportunities, by bringing many more car brands and models into your range.
As noted above, new cars depreciate fastest in the first year, with slower depreciation after that. Almost all cars depreciate under normal circumstances, and buying a used vehicle means you avoid the initial depreciation hit, with the first owner taking the largest loss.
Recalls and service bulletins
When buying brand new cars, especially new models and new engines, sometime the car will need to be recalled or a service bulletin is released because something isn't working quite as it should on a percentage of these new cars. This may cause minor or major issues with the vehicle, or the driver may not be aware of the issue at all. Either way, if the car breaks down or must go back for a replacement part or other mechanical work this can cause an inconvenience or worse.
Buying a used car helps weed out issues that may be found in a new car because they will already have been recognised and corrected.
Cheaper Car Insurance
The cheaper initial purchase price of a used vehicle links directly to the fact it will be cheaper to insure than a new vehicle. If someone buying a new car pays £40,000 for it, and the used car buyer pays £25,000, it stands to reason the buyer of the certified pre-owned car will pay substantially less to insure their vehicle.
A better picture of performance
Used vehicles which have been around for a while in the iteration you are considering, for example, a particular model such as a Volkswagen Golf Mk5/6/7/8, you can easily access performance history and performance reviews from current and past owners of that very car.
They will have shared online what is good about it, what they are less keen on, and if the car is subject to any particular issues. Pre-owned vehicles that have known faults are usually discussed online, and another joy of buying used is that these issues have normally been diagnosed and resolved, reducing the cost to fix them should an issue arise outside of your warranty.
Advantages of Buying a Used Car Which are Usually Associated with Buying a New Car
When many drivers consider buying a brand-new vehicle, they often forget that many of the perceived advantages of buying a new one also apply to buying a used car.
Options and specifications on a used car
When new car buyers enter the market, they often have a particular specification in mind. This could include larger alloys, parking sensors, a towbar, and much more. Third-party options and retrofit additions are often overlooked in the used car market, and this can really narrow down your options needlessly.
Found the used car of your dreams but it has smaller wheels? No problem, they can be replaced.
Can't find the used car you want with parking sensors? Easy, they can be retrofitted to almost any vehicle.
It is also easy to forget that when buying a new vehicle, there are certain options and specifications which are more popular than others, and there's a good chance that someone who bought a car brand new has a similar taste to your own. Let your used vehicle dealership know what you are looking out for and they can let you know when a pre-owned car with your specification comes available.
Used vehicle finance
Certified pre-owned vehicles come with a wide range of finance options, just like a new car would. At DCC we offer finance packages on all the used vehicles we have in stock, including HP, PCP, lease purchase and contract hire agreements at competitive rates form our bank of lenders.
Used car warranty
Certified pre-owned cars from a reputable dealership will always come with a used car warranty. At DCC, every used car we sell comes with a six-month warranty and MOT, and 12-month breakdown cover free of charge as part of our quality assurance programme. You can even add an extended warranty to your used vehicle to last the lifetime of the vehicle under your ownership.
View Used Cars Online at DCC
Every car at DCC is offered with attractive finance packages designed to suit you, and a six month warranty and MOT as standard.