Looking for a great deal on a used car can be exciting, but keeping a cool head and making the right decision will help you get value for money.
Finding a bargain
If you’re thinking of buying a car, going for a used model can be a cost-effective way to get on the road. While new vehicles can lose up to 40% of their value within the first year, the depreciation curve for used cars is much lower.
Before starting your search, it’s important to consider your budget. Bear in mind costs for any work needing done, and be sure to factor in the price of road tax and car insurance.
With your finances in order, where should you go to find the right deal? Buying from a reputable dealership may give you peace of mind as they offer stronger consumer rights and a chance to get behind the wheel for a test drive. Don’t rule out other options though; buying through auctions and private sellers could mean you’re able to get more of a bargain.
Take a look at the visual guide below, provided by Sainsbury’s Bank: Money Matters. It provides more useful tips for buying a used car, such as the pros and cons of different fuel types and things you should look out for during an inspection, including the key documents you’ll need to examine. They’ve also highlighted some handy online tools for checking the history of the car.