RSS Feed

Related Articles

Related Categories

Is it better to invest in new or used vehicles?

22nd November 2018 Print

Investing in a new car is long-term affair. Buying a car is rarely ever a simple transaction, and often loans, repair costs, maintenance supplements and more are constantly being thrown in all the time. For these reasons, most people might think that investing in a new car from suppliers such as Peter Vardy is the better option, but things aren’t necessarily so black and white these days.

It’s been widely reported that new car sales are down while used car sales have sky rocketed, pitting the auto-industry in interesting territory. Consequently, the ultimate question here still needs to be answered; is it better to invest in new or used vehicles?

Investing in New Vehicles

It’s certainly true that newer cars tend to be the most risk-free. Therefore, it’s perfectly understandable that, should their finances allow, people would prefer to pick up a newer car. Peace of mind is certainly something that every driver deserves. Still, it’s a shame that said peace of mind comes with such a hefty price tag. 

While the expense might be high at point of purchase, for some this is a worthy price to pay in order to stave of worries of needing repairs or suffering breakdowns a few weeks or months after leaving the lot. It’s completely understandable, but new car sales are dwindling, and it’s partly down to people questioning if the expense is truly worth it. 

Investing in Used Vehicles

What’s used wrongfully gets a reputation for being inferior to anything that has been freshly made. The thought of other people owning a vehicle is enough to put some would-be buyers off, but these impressions are entirely based on stigma and what they have been lead to believe on rumour and anecdote, rather than what the cold hard facts and research could tell them.

Used cars can undergo full history checks, test drives, criminal usage checks, and more. Any concern or doubt can be addressed with the dealer or manufacturer, and if the buyer can be bothered to do some detective work, then both a good car and a good deal can be found. Not every used car is a disaster waiting to happen. After all, popular manufacturers like Vauxhall, often sell their new and used cars together, highlighting that there’s little difference between the two.  

The Final Verdict

Cars deprecate quickly the moment they leave the lot, losing their value extremely fast. Therefore, not every used car is a pile of scrap that’s been knocking around for decades. Sometimes, they can be cars that were used even three or four times, then traded in at the dealership, meaning that they’re still relatively new.

With the right care and attention during the buying process, investing in used vehicles are often a more cost-effective option than purchasing a freshly made vehicle. By undertaking all the proper checks and research, the stigma can slowly be peeled back to reveal a perfectly functional car being sold at a discounted price. This ultimately saves owners money, so long as they make the wise and informed decisions and don’t purchase used cars at random.