Price and value
One of the most obvious benefits of buying a used car is that it is often more affordable than a brand new car. This lower price means you can often afford to step up to a nicer model. The attractive price of used cars makes it a great option for first time drivers. This may also reduce the fear sometimes faced by new drivers as a used car offers the reassurance that you are not the first person behind that particular wheel.
Research suggests that new cars typically depreciate by around 20% when they’re driven off the forecourt, losing further value by about 10% in the first year. Buying a car with a one to three year history can avoid this hit.
You may not immediately think of used cars being the most reliable, but I’m here to dispel that myth. Many used cars are only three or four years old and have only had one previous owner. Well looked after cars maintain reliability and have proven dependability.
At Lookers, every used car purchased comes with the Lookers Approved Used package, which includes a Quality Assurance Mark achieved through vigorous testing and preparation by manufacturer trained technicians, giving you extra assurance on the road.
Lower Insurance Rates
Generally, the older the car, the lower the insurance rates. It is worth checking out the value and insurance rates for the models you are interested in and comparing them before committing to a purchase. If you already have a car to sell, our valuation tool can easily give you an estimate of how much your current car is worth. This will give you a good idea of what type of car you can go for next.
The cost efficiency on your bank balance is a bonus when buying a used car. However, that’s not the only efficiency you could be making. Buying energy efficient used cars has become more affordable and accessible. The launch of the updated Nissan Leaf, for example, has meant that the previous used model has become much more affordable – allowing the electric car revolution to pick up some steam amongst the masses.
An advantage of buying a used car is the option to buy outright and avoid any monthly payments. However, there is still the flexibility to arrange a low monthly finance option when purchasing used cars. Dealers are familiar with the steps surrounding the transference of ownership from one owner to another and can make the paperwork easier too.
Do you like a particular car that is no longer made? Well, you could find it on the used cars market.
At Lookers, there is a wide selection of used cars to suit every price range. From small city run arounds to roomy family cars and everything in between. The range of used cars available means we have something to suit all buyers. Who knows, you may be investing in a future classic!