For numerous drivers, the decision to buy a car entails the choice between a new or used vehicle.
Affordability and Worth
Opting for a used car brings forth clear advantages, particularly in terms of cost. Used cars generally come with a lower price tag compared to brand-new vehicles, allowing you to potentially upgrade to a higher-end model. The attractive pricing of used cars makes them an appealing choice for first-time drivers. Additionally, driving a used car can provide a sense of reassurance, as it signifies that you're not the initial person to take the wheel, which can help alleviate any apprehension often experienced by new drivers.
Reducing Depreciation Impact
Studies indicate that new cars tend to experience a rapid depreciation of around 20% as soon as they leave the dealership, followed by an additional 10% decline in the first year. By opting for a car with a history of one to three years, you can avoid this significant drop in value.
Although it may not be immediately apparent, used cars can offer remarkable reliability. Many pre-owned vehicles are only a few years old and have had just one previous owner. These well-maintained cars retain their reliability and have demonstrated their dependability over time.
Lower Insurance Premiums
Typically, older cars attract lower insurance rates. It's worthwhile to compare the values and insurance premiums of the models you are interested in before making a purchase decision. If you have a car to sell, our valuation tool can provide an estimate of its current worth, giving you a clear idea of the type of car you can consider for your next purchase.
Flexible Financing Options
One of the advantages of buying a used car is the flexibility it offers in terms of payment. While you have the option to purchase the car outright and avoid monthly payments, there is still the possibility to arrange affordable monthly finance plans when buying a used vehicle. Dealers are experienced in handling ownership transfers and can simplify the paperwork process for you.
If you have a specific car model in mind that is no longer in production, you have a higher chance of finding it in the used car market. At Lookers, we provide a wide range of used cars that cater to various price ranges. From compact city cars to spacious family vehicles and everything in between, our diverse selection ensures there is something for every buyer. Who knows, you may even come across a potential future classic when exploring our options!