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If you don’t have your heart well and truly set on a brand new car, you should definitely consider buying used.

New or Used Car?

UK Car Finance
06, Aug 2019

Ask any expert or financial adviser and they’ll tell you the same: Buying a nearly new – a used car – makes infinitely more sense than buying new.

For one thing, it’s important to remember that pretty much every brand-new vehicle purchased loses a huge amount of its value the moment it is driven off the forecourt. Not just this, but dealers across the UK offer outstanding deals on cars that are practically new, but not quite.

If you’re flexible regarding the specifications of the vehicle and aren’t interested in the ‘prestige’ of buying new, picking up something used or nearly new really is the way to go.

What Is a Nearly New Car? 

Every vehicle that has been driven at least once is technically a used car. The difference being that with a nearly new car, the vehicle won’t have been used very much at all. It could be that a buyer purchased the car and found it wasn’t to their liking, so brought it back and exchanged it. Alternatively, something may have gone wrong with the would-be buyer’s finance deal, which led to them returning the barely used vehicle.

It’s also common to come across dealers selling ex-demonstration and display vehicles as nearly new. In this instance, the vehicle may have been on display in the showroom for some time, prodded and poked at by interested customers. It may also have been used for test drives, meaning it will have clocked-up a modest number of miles. Both of these factors can and will result in extremely heavy discounts on the usual selling price.

But here’s the kicker – ex demonstration and display vehicles are usually pretty high-spec. It’s worth remembering that when a dealer wants to attract the attention of potential buyers, they’ll show them one of the highest-end versions of the vehicle with a ton of optional extras. For you, this means the chance to pick up a car that may otherwise have been completely out of your price range, which will probably have far less than 10,000 miles on the clock.

What’s more, it will also have been kept in pristine condition by the dealer, inside and out.

What Does ‘Approved Used’ Mean? 

An approved used car it’s simply a second-hand car that has been inspected and verified by a manufacturer-approved dealer. All major car brands establish their own unique criteria for such schemes, establishing what kinds of quality checks must be carried out for a car to qualify. It’s almost always necessary for an approved used car to have a full service history and to be sold with a decent warranty.

Again, buying an approved used car gives the buyer the opportunity to take home a premium vehicle in pristine condition, only for a much lower price.  Depending on the age and condition of the vehicle, you may even qualify for a full new-car warranty.

Nearly New Car Finance 

Whatever your vehicle preferences, you will find an extensive variety of nearly new car finance deals to choose from. Dealerships offer their own finance packages to suit most budgets, though you may find a better deal with an independent car finance specialist.

Establish your requirements and budget using an online car finance calculator, before contacting an independent broker to discuss the available options. From hire purchase to PCP to a variety of secured loan options, you’ll find something to suit your preferences and your pocket.

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