When you first get your driving license the first thing you want to do is go out and buy a new car. Even if you have the budget for a brand spanking new car, there are many benefits in going for a used car instead.
The first major benefit to buying used cars is the cost. Most new drivers are young people who do not want to be saddled with the cost of paying for a new car. Even if they can get finance on their car, the cost of buying new could leave them in debt for many years. If you buy a car on motors.co.uk you will find many great second hand cars for sale.
New drivers also have to think about depreciation costs. New cars can depreciate in value by as much as 40 per cent in their first year alone and as much as 60 per cent after three years. This means, that when it comes to selling on a car, they could find it has lost a lot of its value. However, with second hand cars the original owner is the one who has been hit by depreciation costs, not the new driver.
The other issue to bear in mind is the cost of insurance. New drivers, especially younger ones, are already hit with higher premiums than more experienced drivers because they are more prone to accidents. However, the cost of insuring a new car is also more expensive than insuring a second hand one. Therefore, for many young drivers, the cost of insuring a new car could be far too expensive. With a second hand car this will at least drive down some of the costs.
What’s more, new drivers are more prone to accidents, so getting a used car is a good idea while they get used to driving. Dents and bangs in a shiny new car straight off the forecourt can be devastating and is not going to help the depreciation value.
There are a number of reasons why buying a used car is best for new drivers and buying used means that they will not only pay less for the car, but also for their insurance and, with the cost of motoring rising, every little helps.