First Thing to Know
Before Buying a Brand New or Used Car
Buying a nearly new used car will save you 20% on upfront costs
Compared to new cars, buying a car second-hand saves a significant amount of cash.
How much you save depends on the type of vehicle you buy, its age, mileage, general condition and whether you are buying from a car dealer, a private seller, online or auction.
Websites such as Autotrader commonly advertise 400,000 vehicles at a given time, and with a wide selection, motorists can usually find the used car to suit their requirements.
Pre registered cars is another great alternative that can help you save money compared to a brand new model.
Get an advantage with CarVeto database
CarVeto vehicle index helps private motorists find a car’s history buying or selling. Most information is open-source and available to anyone who has a vehicle registration number to hand.
Supplied data is derived and compiled in handy online reports via Driver Vehicle Licensing Agency (DVLA), Police, Experian, Motor Insurance Anti-Fraud Theft Register (MIAFTR), Motor Insurance Bureau (MIB) and others.
Make a free vehicle enquiry check for an instant car report.
This is Step 1 of your 13-Step Guide to buying a new or used car.
The team at CarVeto offers vast motor trade experience for all private car buyers and sellers here in the UK. You’ll learn how to:
- Keep cash in your pocket by reducing ‘on the road’ costs (upfront)
- Save on monthly running costs
- Safely and legally buy a car that’s a worthwhile investment
We’ve been dealing with cars for over 30-years – use the links below to find the information you need the most.
Take a look below…
Using a few of these simple steps will help reduce upfront costs and get your new car on the road for less than expected.
New vs used car?
See the table below. Buying a used or nearly new car saves thousands compared to brand-new models.
|Average small car new price: £14,500||After 1 year and 12,000 miles: £10,875|
|Average medium car new price: £29,000||After 1 year and 12,000 miles: £21,750|
|Average SUV vehicles new price: £25,500||After 1 year and 12,000 miles: £18,625|
Broadly, each vehicle type will lose 25% value at 12-months old based on the UK average annual mileage of 12,000.
The stark drops in value usually occur in the first year.
Subsequent 12-month periods depreciate the vehicle a further 10% (based on 12,000 miles per annum).
So, buying a one or two-year-old model will make a chunk of savings and cut upfront ‘on the road’ costs.
But specific makes and models hold their value better and longer.
Examples include Volkswagen Golf GT Diesel, Audi Avant, or high spec Mercedes. You are unlikely to find many on the cheap after only a year or two on the road.
Newer cars are more reliable
Reliability is less of an issue too as motors under 3-years old, and 30,000 miles include a sturdy manufacturer warranty, especially when buying a used car from a franchised dealer.
Shop around for the best car finance deal
Traders make a good profit from the finance deal you are offered. It means there is room for negotiation, either from the monthly payments and APR, the screen price or value of your part exchange. Asking for some free road tax or warranty extension can also put money back in your pocket.
Step 2: Costs of running a car – Let’s see how much it will cost to run your new or used car each month.