Buying A Used Car Can Be More Cost Effective Than Buying New
Even though prices have dropped slightly, buying a car is still a huge undertaking not just in terms of purchasing the car itself but also in the cost of keeping it on the road year after year. But, a car fulfils so many functions these days. It not only offers a safe and secure means of personal transport but it also represents an extension of your personality, whether that’s intentional or not.
In some cases, a car is still seen as a status symbol and for most people choosing a car is still a special event and not a spur of the moment decision. I feel that a good case could be made for buying a used car, as a second hand car has the ability to fulfill all of these roles at a fraction of the price of a brand new model. Some second hand cars are even more desirable, particularly the old classic models like the Jaguars and Aston Martins although of course these kind of cars could have a considerable impact on your wallet.
There are definitely some benefits to buying a used car, particularly of course the price. Most second hand cars are cheaper than their newer versions (unless they’ve been modified in some way) and a lower cost gives the buyer a lot more choice to opt for a slightly higher spec model of car.
Another benefit of buying a used car is depreciation. A new car will depreciate at around 20% just as soon as it is driven away from the forecourt. Of course there will be exceptions to this but it’s a pretty well know fact.
Just as with new cars, there is a huge range of second hand cars to choose from and, if you buy from a reliable source, you’ll have access to the cars history via servicing and MOT details etc.
By James Halliday | April 6, 2010
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