Used Vehicle Advantages

If you have never sold a used car before, or happen to be someone who is generally very inexperienced when it comes to buying and selling cars in general, then  you might not be fully aware of why so many people in the UK opt for a second hand model over a new one.

Understanding some of the key reasons why people buy used cars could give you a platform upon which to sell your own vehicle and stand you in better stead when it comes to pricing it up and inputting the description etc.

Key advantages to buying a used vehicle:

Price – Undoubtedly what drives most people to buy a used car is the price difference compared with a new model. If you were after a medium family car for example such as a Ford Focus, you’d be looking at around £20,000 on average for a new one, although you can pay in excess of £30,000. Start looking at used Ford Focus models and you will see that you can get one which is only a few years old with low mileage for around £7,000 - £8,000 – a very significant saving.

Depreciation – This ties in with price, but is still an advantage nevertheless. Cars depreciate most quickly when they are new. For example, when you buy a brand new Chevrolet Captiva it may lose £2,000 worth of value every year in its first three years or more. Yet if you buy a used Chevrolet Captiva which is say 6 years old, then decide to sell it the next year, you may only lose a few hundred pounds or even recoup what you paid in full. Residual values are far more favourable with used cars.

Available Options – There are far more options when you decide to go for a used car. Not only do you have all current models available to you, but all models which are no longer in production too. So if you don’t particularly like the look of the current Fiat Panda, you can browse previous models to see if they appeal more to your eye.

Insurance – Another money-based advantage, but a strong one and one that can save you money over a longer period of time. Generally the less a car is worth the less that you’re likely to pay in insurance. A new car worth £50,000 is a much larger risk to an insurer than a second hand Kia Cee’d which cost £2,400.