Today we are talking about choosing a new car but instead of heading to a showroom, choosing a used model. Used cars can be just as good as new and often you will save a ton of money on your purchase. Here are some of the top reasons why you should choose a used car this year.
No matter your reasons for buying a new car, it is incredibly important to consider the resale value of the car in years to come. When you purchase a car you will often be able to sell it on and part exchange it for a new one years down the line. This means when you sell your car you are also partially paying for a new one. New cars are great, but the label ‘NEW’ only lasts until you sit behind the wheel and from this point onwards the value of the car will drop significantly. However, if you are to choose a used car instead, you will see a steady decrease in value over the time you own the car and you’ll likely be able to sell it for not much less than you bought it.
More for the money
Shopping for a new car can be incredibly exciting as a prospect until you realise how expensive all of your favourite models are. Once you take a dive into car shopping you will soon realise that many of the options you hoped to buy are out of your price range or carry a steep insurance premium. This can narrow your options massively and make you wish you had kept your old car. However, if you filter your search for used cars, you might find that the make and model you want is within your price range and this can open up a whole world of doors for you. Used cars are cheaper and therefore easier to buy, and this likely will mean that you can get a better car for your money, such as Mercedes approved used cars or used versions of your other favourite brands.
Even if you can afford to buy your dream car, the biggest hurdle which can get in the way is your insurance costs. Insurance is very expensive and it can even be more expensive than the car itself. When shopping for a car the insurance cost might stop you from getting what you want, however when choosing a used car you may be able to avoid the issues. Used cars are worthless and therefore are cheaper to insure, so this is always a great option for you when you want to buy a fancy new model.
Even the best drivers might end up getting a ticket at some point in their lives. Maybe you just thought that you’d be alright driving slightly above the speed limit or maybe you parked in the wrong place without realizing. Whatever the reason, getting a ticket is a real pain because the fines are so high and you’ll get points on your license which means that your insurance is likely to shoot up as well. That’s why you need to do everything that you can to avoid it at all costs. If you’re worried about getting a ticket, these are the best ways to avoid it.
If a ticket comes through your door and you don’t think that you actually did anything wrong, you shouldn’t just accept it and pay the fine. You need to challenge it and if you can prove that you weren’t in the wrong and there has been some kind of mistake, you may be able to get it written off so you don’t have to pay and you don’t get any points on your license. If you’re not sure about how to challenge a ticket, there are companies like TicketBust that will help you through the process. In most cases, you only have a certain period in which you can challenge a ticket so don’t wait around, get to it right away and hopefully, you won’t have to pay it at all. Even if you did do something wrong but you think that the fine is too steep, you might be able to get it reduced so it’s always worth challenging them.
Avoid Alcohol Completely
So many people get stopped and caught for drink driving because they misjudge how much they should drink. The legal limit is very low and different people are affected by alcohol in varying amounts. You could also be affected more if you’re tired or you haven’t eaten recently so you can’t always assume that one drink is safe. If you want to avoid a ticket, it’s best to steer clear of alcohol entirely if you’re driving or if you do have a drink, make sure you leave at least an hour if not longer before you drive again.
Plan Extra Time For Journeys
Most people aren’t speeding just for the fun of it, they’re speeding because they’re in a rush to get somewhere and they’re going to be late. If you’re not a very organized person and you find yourself in this situation a lot, it’s only a matter of time before you get a ticket. The thing is, you can easily avoid this if you just plan a little extra time for your journey, especially in the winter, and make an effort to leave on time. It’s better to arrive early without a ticket than it is to speed there and arrive with a big fine to pay off.
Always remember to drive safely and stick to the rules of the road and you should be fine. In any situation where you are unsure, being overly cautious is usually best.
Owning a car can be costly, but it’s a necessity for most people in the modern world. Still, that doesn’t mean it has to be an expense which excessively consumes your available funds. You’ll always face regular costs as a driver, but those costs can be mitigated. It just takes some careful planning and some careful driving, as we’ll explain in this article. Let’s talk about some of the ways in which you could start protecting your personal finances as a driver.
For starters, driving sensibly is one of the best ways to protect your personal finances. When people buy cars, they assess many different aspects that determine both the initial cost and the costs they’ll face throughout the life of the vehicle they’re purchasing. One of the most important variables is the fuel economy of the car in question. How much is it going to cost per gallon? Modern cars are becoming more and more efficient in this regard, but many drivers still fail to accept that economical driving is the best way to make your money go further.
Accelerating and braking excessively hard are both examples of ways in which you’ll burn through petrol far more quickly. By taking a calmer and more methodical approach to driving (in particular, by avoiding speeding and driving aggressively), you’ll be able to cover more miles with a full tank. That means you’ll have to take fewer trips to the local petrol station. Obviously, this would save you a lot of money in the long run. If you want to protect your personal finances as a driver then think about the way in which you operate your vehicle. As we’ve discussed before, driving efficiently is a great way to save fuel.
Unfortunately, car accidents are very common in modern society. It’s hard to say whether the blame falls on careless drivers or the sheer number of cars on the road, but the point is that you must be ever-vigilant. Being a good driver is important, but that doesn’t mean others on the road are going to be good drivers. It’s important not to react to dangerous drivers in an aggressive way; that could turn a potential hazard into an accident. But even the most cautious drivers can find themselves in road incidents. Obviously, the priority is that everyone is safe in such an event, but many of us have probably been involved in some sort of car accident at some point in our lives, even if it was just a minor bump or scratch. The cost that comes with such accidents can be astronomical, so make sure you collect details from any other drivers or witnesses involved to help protect your finances as much as possible. If you are injured in an accident then it’s important to get compensation for any medical bills or time off work that might impact your finances as well as your health. You might even want to check out https://www.braininjurylawofseattle.com/seattle-brain-injury-lawyer/ if you’re suffering something more serious, such as a brain injury. Your recovery is essential, but your finances play a big part in this.
Finally, let’s talk about insurance. This is the cost that gives most car owners headaches. No matter how good a deal you might get on a car itself, it’s the insurance premium that determines how much that vehicle is ultimately going to cost you on an annual basis. Still, there are ways to save money in this regard. Take a look at your existing insurance policy. Is the coverage essential for your current situation? Maybe you don’t actually drive that many miles anymore. Maybe your car is getting older and you wouldn’t actually get a very high payout if there was an incident, so there’s probably no need for such a high premium. You could even raise your deductible, as suggested at https://www.fivecentnickel.com/does-raising-your-car-insurance-deductible-save-you-money/. The deductible is the amount you’re willing to pay before the insurance provider starts paying. If you raise your deductible then you’ll face a lower premium because your insurance company will consider you less of a risk.
If you are in the middle of deciding what type of car to buy or truck to buy, the chances are you have browsed online for both new options, and second hand. Each choice has a range of pros and cons, for example, driving a new car is a pretty sweet drive. They have air-con, perfectly working heaters, inbuilt parking sensors and cameras. Some will even park for you now… Or in the case of Tesla – drive for you. And all of those things are great, but they come at a pretty steep price. If you aren’t a cash buyer, and most of us aren’t you might struggle to find a finance deal that is going to work for you. Or, you might not want to be locked into a contract for the next X amount of years.
Used cars come with much fewer strings. Unless it’s in the newer age bracket of ‘used,’ it’s usually within the grasp of most people to be able to afford it. But if you are shopping used trucks and cars online here are a few great reasons to buy used – not new.
No one who buys a new car ever says ‘well this was an investment!’. The moment it rolls off the lot, it loses a heap of value. And then over the following three years, they can lose up to 50%. Which is a lot if you are making a 30-40k investment. Used cars, however, you’re not likely to worry too much about that. You’re already getting a great deal on a car in perfect working order – just a few years under its belt.
Older car – cheaper to repair (in most cases). The value of your vehicle is one of the primary factors that is taken into account when determining the rates that you’re going to pay. It makes sense, right? The higher the value of the car, the more money the insurance company will have to pay out in the event of an accident. Of course, there are other factors, like how long you’ve been driving and how many seats are in the car. But mostly, they’re looking at the value.
While you can still find plenty of 20+-year-old cars trundling along, in general vehicles are designed to last longer now. Of course, they all have a certain amount of miles in them, and by no means in 100,000, the same as 200,000 but car designers and engineers have made incredible strides in the giving cars a longer lifespan.
This is one of the things that people who are buying used cars worry about, but with cars designed to last, it shouldn’t be a concern. Unless you are really going to buy that 20-year-old Volvo – of course.
Pick Of The Litter
Or something like that anyway. If you want an older model because it had a sweet shape, more boot space or a particular gadget they phased out then used is going to be your best friend. Each year, around 350 models of new car hit the market. Which might sound a little OTT, it’s just that some marketing is better than others – and we don’t always see the models that get released in other countries. So if that is what the new car market has each year, you can begin to imagine the range of the used car market.
New cars come with a blank sheet. And that’s cool, but older cars come with a personality – and that is cooler. But, what is more – you have access to their history. You can check the plates of the vehicle too, has it been stolen? Do the plates match the make and model of the car?
If the car has been in an accident, has been repaired, or failed its last MOT you will have access to all of the information before you decide to purchase the car. Of course, a clean MOT one year isn’t a guarantee that it will pass the next – but if you know what some of the issues were, you will have an idea of what you can expect the next time.
More Motor for Your Money
A new car is going to run you a few thousand. Either upfront or a couple of hundred a month in a contract. If you have the cash to play with, then you’re going to be able to get a lot more car for your money. A new Land Rover, or a Volvo 4×4, are anywhere between $45,000 – $177,000. Which is pretty steep, even on finance. But a few thousand will get you second-hand version – with a few miles on the clock.
You aren’t tied to only purchasing something that has a heap of functions you might not use. You can buy any make, and model and any year of car that you like. In fact, if you have time, you can spend as long as you like finding the perfect second-hand sweetheart for you.
Obviously, no one wants this to happen, but in the first year of driving most people are more likely to have a crash. The insurance on a newer car is already going to be high, add in a new driver premium – and then an accident? It makes the car even more expensive. Having a slightly older car, and maybe even on the cheaper side is going to put you at ease just that little bit more when you start driving unaccompanied.
If you buy from a used car garage, the car will usually come with a decent warranty. One that will keep your covered for 3-6-9 months and the follow-up care is generally pretty nice too.
In general, there are pros and cons to both new and used. But, if you are looking to maximize what you can get with the money you have, and keep your insurance low, then used cars will win every time.