If you’re shopping around for your next motor, buying brand new might not be the most sensible choice.
Even though newer cars undoubtedly come with exciting features and impressive specifications, they lose value as soon as they leave the sales floor.
To avoid the bite of depreciation, buying a nearly new car could make a wiser choice. You’ll still be able to get your hands on one of the latest models, and you’ll save thousands of pounds in doing so. Here’s what you need to know about the hidden gems on the used car market today.
Why does the used car market deliver better value?
Firstly, there’s the obvious fact that used cars typically cost significantly less than factory-fresh ones. Yet with second hand cars being handed over to dealerships at little more than two or three years old, most still feature all the modern technologies, safety features, and comfort upgrades.
The used car market is expected to be worth around 1.5 trillion U.S. dollars globally by 2027. Increasingly, drivers are seeing the benefits of spending their money on a quality used car instead.
Understanding warranties and dealer protections
Buying a used car from a trusted dealer also comes with perks.
In South Yorkshire especially, there are various types of warranties available that might not be commonly found on newer vehicles. From manufacturer-backed pre-owned programmes to additional layers of security from the dealership, you’ll be likely to have some protection included with Sheffield used cars.
Quality expectations are naturally higher for those buying new vehicles.
Choosing the right mileage
What’s a good mileage? The answer depends on your needs:
- Low mileage is typically 7,500 to 10,000 miles. These cars could easily be classed as ‘nearly new’ if they’re three years old or younger.
- Average mileage ranges between 10,000 miles and 30,000 miles. This should still offer plenty of years of hassle-free motoring for you.
- High mileage over 50,000 miles indicates heavy use, but this doesn’t always mean an unreliable vehicle.
If you’re not too concerned about long-term reliability and you simply need a reliable car now, you could even consider diesel cars with a higher mileage. Any car with a mileage over 75,000 will be priced accordingly, making it more affordable even with higher specification levels.
While a higher mileage could lead you to a bargain, it’s always important to carry out essential checks to make sure you’re buying a car that’s been properly maintained.
Is it worth choosing an electric vehicle?
Finally, you might be considering an EV. Suitability depends on where you live, the type of driving you normally do, and what you need from your next car.
An electric or zero-emission vehicle could be the most sensible choice if you live near and commute through the Ultra Low Emission Zone surrounding London. Driving within this boundary in a non-compliant car could quickly get very expensive for you.
However, if you typically need to drive long distances on motorways and regularly cross into rural areas too, an electric car might not be the most convenient option. Finding petrol and diesel on the move is much easier than planning for recharging stops.
Don’t rush the process. Take time to weigh out your options and only choose the right answer for you, your driving style, and where you want to go!