Owning a car is expensive. Especially a new one. It’s expensive to buy a vehicle, maintain it, license it, fill it with petrol and so much more. But most of us do need cars. We need a car to get to and from work. We need a car to drive to the shops and to appointments. We need to take our children and elderly parents to doctor’s appointments. Sadly, while necessary, the expenses of owning a car just never stop cropping up. But one way you can limit the expenses of owning a car is to buy a used one. And that means it’ll immediately be that much more affordable.
We need cars in our lives to get us from point A to B. And we don’t need fancy, expensive cars for that. Buying a car used, like one of the many VW Polos available for sale, is a smart financial decision. You’ve heard it before and you’ll hear it again, a car loses its value the minute it’s driven off the showroom floor. To put it simply, you start losing money the minute you drive away from the dealership.
More and more people are buying used
An increased number of people are starting to see the value in buying used vehicles. It often makes more financial sense to buy a used car. It’s the low price, slower depreciation and increase in flexibility, says the AA.
“Before launching your search for a good deal on a used car, spend some time considering many of the same factors that would apply to a new car purchase: how you will use the vehicle; how long you plan to keep it; the size, style, features and appearance you need or prefer; and your budget or financing options for the purchase, as well as for operation, maintenance, and repair costs. Know your financial limits and secure any needed financing before beginning your search.”
More value for your money
There are many types of cars which are known for keeping for safety, value and reliability long into their old age. If you’ve always dreamed about buying a certain car but could never afford one, maybe you’ll have your chance if you buy it used. Before you buy, make sure to take the maintenance costs of the vehicle into consideration. This is especially important if you’re buying a car which is usually quite pricey.
Know the possibility of risk
Like all things in life, buying a used car does come with the possibility of some risks. An older car might come with structural or mechanical problems. It might be difficult to find replacement parts. Also, you need to watch the seller of the car carefully as they may not be entirely honest about the car’s condition. It’s up to you, as the potential buyer, to make the most of the car’s advantages while educating yourself on the possibility of risk.
Factors you need to consider
Buying a car can be overwhelming. There’s a lot for you to think about. The good news, though, is that buying a used car is very similar to buying a new one. The factors you need to think about are largely the same. These include:
- How much can you afford to pay, will you be paying cash or monthly repayments?
- What can you afford to pay monthly to operate, repair and maintain the car?
- What you’ll be using the car for?
- How long you plan to keep the car?
- What is the size, style and features you’d prefer?
No one can tell you what kind of car to buy. No one can tell you how much you should pay for a car. There’s no right or wrong decision. You need to do what’s best for you. Sometimes the right option for you may be to buy a new car. And maybe the right option for you might be to buy a used car. What’s important is that you’ve done your research and you make the decision carefully. After all, you’ll have to live with, and drive, your choice for many years.