If you have made the decision to buy a used car, you may have made a better decision than you originally thought. After all, you can pick up a car that is fairly new but without having to lose the depreciation that occurs when you drive a brand new vehicle from the showrooms. By purchasing a car that is a year or so old, you stand to save approximately 20-30% which is a great reason for buying.
But there are many reasons to buy a used vehicle. To start with, you will save money on your insurance and many used cars are actually still covered by the warranty, but this is something that you will need to check up on. Always check the small print to establish just what you are covered for.
Certified used cars will often come with their own warranties but it is comforting to know that used cars are much more mechanically reliable these days than they ever were before. Do remember however that you still need to check the mechanics out first, after all, someone has been driving your vehicle for a year and it is unknown as to the care that was given within that twelve month period. If you have any concerns, you should check the VIN against the Registration document and request a vehicle check.
Buying a used car might be the best option in terms of savings but you do still need to ensure that the vehicle is worth the financial outlay and that it meets your budget. Consider whether you are going to get a loan, pay down a deposit to reduce potential monthly fees or, take out finance with the car showroom. Always check any finance agreements in full and don’t be swayed by your enthusiasm for the car as opposed to checking the small print. Buying a used car is a real investment and if you choose wisely, it will last you for as long as you need it to and you will still make money on the resale.
“Image courtesy of [bplanet/ FreeDigitalPhotos.net”