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What Factors Influence Used Car Buying Decisions?

The used car industry is extremely large, with millions of people opting to buy used cars over new ones on a daily basis. New and used cars obviously have their own associated pros and cons, but it has to be said that used cars represent excellent value-for-money, especially if they are just two or three years ago; for example, you will avoid that massive depreciation hit that all new car owners face within the first 12 months of ownership.

Unless you are buying a 15-year old car that’s done more mileage than the circumference of Earth, you will have many years of trouble-free motoring for a fraction of the cost of a brand new car. But what other factors influence people’s buying decisions when they decide to buy a used car instead of a brand new one? This blog post offers a brief insight into this fascinating subject.

Used Car Buying

Image Credit: M 93 (obtained from Flickr)

Price

It’s pretty obvious that the price is going to be a huge influencing factor for people when buying used cars, especially those that want to be the more-luxurious cars on offer such as the Audi Q7 pictured above.

The thing about buying brand new cars is that they tend to lose up to 40% of their value within the first 12 months of their life, so for many people looking for a “nearly-new” car, one that’s just 12 months old and has less than 10,000 miles on the clock can represent excellent value-for-money.

Such cars are also usually covered by the remainder of the manufacturer’s new car warranty for corrosion and mechanical defects, so in many respects it’s no different to buying a brand new car; the only major difference is that it’s cheaper!

Despite what you may think, wealthy people tend to buy nearly-new cars rather than brand new ones for this very reason. The only time it is worth buying a brand new car is if you get it on a lease agreement and the car you want doesn’t hold its value very well.

Dealership benefits

When you buy a used car from an established and trusted car dealer such as the Jardine Motors Group, you benefit not only from the low price to pay on the used car you want to buy, but from a number of value-added benefits which come as part of the deal, such as:

  • Guarantees that the used car you want to buy isn’t stolen, written off or has outstanding finance;
  • The car has had a thorough inspection and any major problems rectified before the car has been put up for sale;
  • The car has had its mileage verified and checked with the DVLA and VOSA.

Car dealers can also make it easy for motorists to buy and maintain their cars, as virtually all of them offer flexible finance facilities to suit everybody’s budget, after-sales care such as servicing and MOT packages, and the guarantee that they can give you the best trade-in value for your car should you wish to part-exchange it for a newer model in the near future.

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Published on: April 23, 2014

Filled Under: Auto Tips and Guides

Views: 1553

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