As the service cars provide is so vital, most people exercise a great deal of caution when buying a car. This often pushes consumers towards brand new vehicles on hefty payment plans. However, buying new isn’t always the forerunner when it comes to value for money. In fact, the used car market is growing faster than ever!
In this post, we’re going to discuss why buying a used car is a solid investment – and where you can find one in London!
Why Buy A Used Car?
There are many reasons why choosing a used car over a new one is a good idea. Here are our top three:
Cars decrease in value from the moment you drive them out of the warehouse. While some models and brands keep their value for longer than others, a new car can lose up to 30 percent of its original value in its first year of ownership!
Taking into account the fact that you’ve invested a large sum of money in a new car (plus interest), that’s a 30 percent loss for you as the owner.
2. Bang For Your Buck
The same budget that might get you a low-range model when buying new could buy you a mid or top range model that’s pre-loved!
Don’t forget insurance, either. You’ll get better rates with a used car. This is because the higher the value of the vehicle, the more insurance companies will have to fork over if something goes wrong.
3. Peace Of Mind
As long as you’re buying from a certified owner or dealership, used cars can sometimes be a safer bet. They’ll have passed multiple inspections, like MOTs, and have a documented history that you can refer to when buying.
Finding A Used Car In London
For most people, the internet will be the go-to tool for their used car search. There are a vast number of dealerships out there such as Cazzoo, Auto Trader, etc.
Other buyers prefer Facebook Market or Gumtree for a more casual approach. While sites like these can offer an easier buying experience, they don’t offer the same safety net official dealerships can provide.
Whichever route you choose to take, there are steps you’ll want to take to ensure your car’s a winner. Here are our tips:
1. Know The Market Value
If you’re looking at a specific car model, you should check out the general asking price on a number of sites. Kelly Blue Book and Edmunds.com are great tools you can use to find this out. Get specific with the make, model, year, mileage etc. Understanding the going rate of what you’re after should be Number One on your tick list!
2. Inspect The Goods
When viewing the car, check for scratches, dents, rust and general visible damage (both inside and out). Listen carefully for unusual noises, and check for warning lights, when the engine runs.
If you can smell mold, be careful! This could signal that there’s water damage somewhere.
3. Check The History
You’ll want to see a recent MOT, and the Vehicle history book, as well as the title.
Bring the paperwork to your own independent expert. Involving a neutral third party should help you decide whether the car you’re eyeing up can walk the walk (or roll the roll). You can even ask to bring a mechanic along to a viewing, so that they can inspect the car and determine whether its worth the asking price!
Buying a used car is a great investment, and it doesn’t have to be a daunting experience if you cover your bases.
There are a lot of used cars for sale in London, and there are a variety of platforms where you can shop for them. Try to stick to trusted local dealerships (such as Hilton Car Supermarket). These services are comprehensive and will handle every aspect of your purchase – meaning you can get on the road with your awesome ride that much sooner!
Author Bio: Written by Nancy Gregory, an E-Commerce, PPC, Public Relations Services (PR nerd). Digital Marketing, and ‘I’ll give anything a go once!’ kind of guy. You’ll find me still debating whether I should windsurf whilst mountain biking down your nearest big hill every weekend.