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Buying A Used Car
Used cars are a popular and less expensive alternative to buying a brand new car especially in the current economic climate, used cars however tend to be a favourite for young drivers or those who recently passed their driving test and don’t want to risk a large investment, or even those requiring a ‘run around’ vehicle just for occasional use.
It is certainly understandable that many drivers have a good reason not to want to put significant amounts of money into buying a new car especially since new cars do tend to depreciate in value quickly. The other side of this is that buying a used car is something which can require a little more care when considering depending on the approach taken. With a little care and some preparation some very good deals can be achieved.
Approaching Buying A Used Car
A used car is a particularly good choice for the young driver when taken into account that the cost of insurance for that particular age group is higher due to the higher chance that they may be involved in an accident.
The money saved in buying a used car could be quickly worn away if proper attention and planning isn’t taken when considering buying a used car. A number of simple yet commonly overlooked things to do before making any used car purchase include:
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- Consider your budget – Most people set their budget based on the maximum amount they wish to pay for the car itself, what many forget is that there are other costs need to be considered before making a purchase such as car insurance, road tax, and MOT.
- Shop around – Just by shopping around you can save very reasonable amounts of money. When shopping around for cars there are many places you can buy from including ‘approved used cars’ direct from franchised dealerships, car supermarkets, independent dealerships, car auctions, and of course private sales. Buying on impulse can sometimes prove extremely costly.
- Find out more – When considering a particular type of car look around for information such as reviews about the model your considering, the Internet is particularly good for this as there are many sites where other owners will be able to tell you of common faults and problems with that type of car.
- Check the vehicle’s history – There are many easy ways available today to get a history about the car you are considering purchasing, spending a few pounds now could save you a lot more money further along the lines. These reports will commonly tell you if the car has been stolen, scrapped or written off after an accident, or even if the car still has outstanding finance against it.
- Check the paperwork – A used car should be accompanied by a number of pieces of paperwork that you should check before making a purchase, a used car should always be accompanied by the V5 document which should contain information that matches the car such as its number plate and the Vehicle Identification Number (VIN).
- Always take a test-drive – A test drive can tell you a lot about a car that seeing it standing still cannot, you may be able to identify signs that could point to underlying problems or may develop into problems later such as unusual knocking, or broken gauges.
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Insuring A Used Car
Finding cheap car insurance for a used car is something which like buying the car benefits with the right approach:
- Pick the right cover for you – Choosing between the 3 basic options is a good place to start your search, if the car is particularly low in value it may not be worth considering a higher priced comprehensive policy and it may instead be a better choice to consider Third Party Only (TPO), or Third Party Fire and Theft (TPFT).
- Shop around – As with buying the car shopping around can save a good deal of money, use a car insurance comparison website to compare multiple quotes and compare what each policy offers you for the money.
After doing these things discuss extra options the insurer may offer which will reduce the cost of your premium, taking in mind the above tips could result in you buying a car which you enjoy owning and driving without costing more than it really has to.
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