Buying a car as an investment is a tricky thing to pull off. Unless you are talking about a rare, collectible or vintage model, the likelihood is that it will continue to devalue over time. This is because as most cars are driven around, they wear down. However, the good news is that the current crop of used models are better than previous generations, often providing their owners with many years of reliable motoring. Different factors have contributed to this but it is largely down to longer-lasting components, better paints and superior manufacturing processes in use today. So, which is better, a new model or a second-hand one?
To be clear, brand new cars should always be in mint condition. What’s more, most carmakers supply their latest models with warranties. There again, buying a new car will also mean registering it for the first time and paying out for a higher level of insurance because new cars have a higher valuation on average. Typically, brand new cars lose a thousand pounds or more as soon as they are driven off the car dealer’s forecourt simply on the basis that they can never be sold as new again. Therefore, the most amount of depreciation car owners see is when they buy a new one and start to drive it.
On the other hand, used cars have already lost some of their original value. This means that they’re cheaper to buy, of course, but also to insure. Even so, some people needlessly worry about buying a used car because they often wonder whether the car will be in good working order. Although this is understandable if you turn to a private seller, it shouldn’t be the case with a reputable dealer. For example, you can visit KAP Motors in Brighton to buy fully inspected used cars. These have been checked to make sure they are roadworthy and that their price reflects their true condition. What’s more, used car dealers have a vested interest to make sure their customers are satisfied. Private sellers, by contrast, have no public reputation to uphold.
Finally, it is worth mentioning how green it is to buy a used car. In effect, by becoming a car’s new owner you are extending its lifespan. In essence, you are recycling it. If everyone bought new cars, they’d never be used to their full potential. Even better, there are plenty of plug-in hybrid and electric cars to choose from on the used car market these days.