A used car is less expensive than a new one, so you can pay it off faster and save money; it also has lower insurance premiums, so it’s cheaper to run. Some people can’t see past a new car, but used cars are still modern and in good shape thanks to the turnover of new vehicles.
Better Value
Vehicles depreciate very quickly, which is why there are so many new cars on the road. These days, most people have a finance agreement that allows them to swap their vehicle for a newer model after a few years; the trouble is that people are paying a premium for it continuously.
A better option is to buy a used car outright or get one from finance. Because the market for cars is always turning over, it’s easy to find a high-quality used car that lasts for years. Visit a citroen dealer to view the latest used cars on the forecourt and ask the experts any questions.
Less Depreciation
As mentioned, a new car depreciates quickly- losing as much as 40% of its value in the first year alone. After that, a car depreciates less quickly, making a used car a better investment overall. Again, modern used cars tend to hold their quality, if not their value, so it’s a good deal.
With so many new cars on the road, the choice of used cars is better than ever. Visit your local dealership and discover a wide range of brands and models on the forecourt. Some of the deals will make your eyes pop when you discover the mileage and the asking price at the dealership.
Lower Insurance
There’s no doubt about it, owning a car is expensive. You have the deposit and monthly premium, the cost of servicing and maintenance, the road tax, and the insurance. New cars have higher insurance premiums than used ones, another benefit of buying a used car.
When you buy a used car, you get a lower-cost vehicle and lower insurance premiums. Depending on the age of the vehicle, you might also get lower road tax. A used car might not sound like the best idea nowadays, but they offer some excellent value in the marketplace.
Finance Flexibility
Unless you have pots of cash, it’s unlikely you will buy a new car outright; it’s far more common to set up a finance agreement with the dealerships and pay a monthly premium. This option is also available for used cars, but the difference is that a used car can sometimes be bought.
When you buy a used car outright, you don’t have any monthly premium to pay; either that or you can pay a larger deposit on the vehicle for a lower monthly fee. More financing options give you more control over how you spend and invest your money on a vehicle for your family.
Final Thoughts
With so many new cars on the road, it can be easy to get into a new car mindset, but used cars still offer some excellent value. If you don’t mind some additional servicing and a few bumps and scrapes here and there, a used car can save you money and still provide a quality family car.
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