Cars are an important part of our lives and when it comes to buying one, many resorts to buying a used one. Why? Because of the multiple benefits used cars offer.
They are cheaper, easier to maintain, and have no down payment hassle, and they are technically a lot lighter on the budget.
Let’s discuss how you can buy your used dream car while staying within budget.
How to Buy Used Cars in the UK?
Buying a used car can be difficult, especially if you are not car-savvy. You should either discuss this with a friend aware of car pricing, models, and maintenance or talk to a mechanic who can help you with car inspection.
1. Decide Your Car Budget
What is your car budget going to be? Are you going to buy a sedan or a hatchback? Your car budget will define the model you can easily afford. In the UK, most cars can be around the £5,000 to £15,000 mark. You can easily get a good-conditioned car within this price range. But make sure that you keep a few thousand more in case the car you plan to buy is not within your expected budget range.
2. What Model Do You Want?
Each car you plan to buy has multiple models (usually by the years). So, a Toyota Sedan of 2010 will cost you around £5,000, while the same car of the 2015 model will cost you £12,000. It is because the new model has many advanced features that were not available in 2010. Similarly, the newer model car has better engine capacity, is more maintained, and consumes less fuel.
Decide on a car model before you start browsing the car market.
3. Do Your Research
Once you have a budget in mind and a car model decided, it is time to read reviews about the car. Does it offer the comfort you desire? If you live in an area where it snows a lot, the car should have more ground clearance. It is even better that you buy a truck or an SUV. These cars are made for rough terrains and brutal conditions. An SUV will give almost the same mileage as that of a Sedan. The fuel consumption of these cars usually depends on their engine power. The reviews you read can shed more light on the car performance because they are by the people who have driven those cars for years.
4. Visit Showrooms
After reading the reviews, once you have decided to buy a car, it is time to visit the showrooms. Most showrooms or car dealerships have used cars available. They can help you find a car of your choice. Make sure to drive each car you plan to buy on the road and on the highway.
Because when you drive the car on the highway, you will know about the engine sounds, the car controls, and axle alignment. In short, you will know about the details that you may have missed if you had ridden the car in a small parking area only.
If the showroom doesn’t allow you to drive the car on the highway, move to another showroom that allows you to do that. Most showrooms or car dealerships that don’t allow cars to be driven on the highway are usually shady.
5. Online Selling Portals
If you cannot find your preferred car at a car dealership, then visit online car selling websites/marketplaces. Many car dealerships have their own websites. You can get to them by typing ‘Car dealerships + Your Area’ like ‘Car dealerships in the UK’ etc.
Try with a few terms until you find a car dealership that is selling the car you need.
Make sure to only search for used cars by explicitly mentioning the terms in your search queries. In the UK, some top car selling sites include AutoCoinCars, etc. You can get in touch with them to find a car that fits your budget and requirements.
6. Get Car Inspected
Once you have finalized a car, it is time for inspection. There are many third-party car inspection services that you can use for buying used cars. Or, you can ask your local mechanic to inspect the car on your behalf. The mechanic will charge you money for inspecting the used car.
Similarly, you can also hire car inspection services in the UK to inspect your used car before you buy it. Most of these inspection services have a 200 point inspection checklist that helps you learn about the car’s problems. Now renegotiate with the seller. If the car has some major problem, don’t buy it. If the problem is a minor one, ask the seller to discount the price by atleast 5%.
7. Buy Your Dream Car
It is time to pay for the car. Most of the sellers would want you to pay upfront when you buy used car UK. Some sellers may also want the payments to be made in cryptocurrencies. You both can decide on a payment method that suits you.
Once the payment is made, you will be given the car and its insurance papers. You may have to renew the insurance if the car is not already insured. Cars that are already insured will cost you less in the long term because of the car insurance premiums. So, make sure to find those that already have a paid insurance premium on them.
Five Benefits of Buying Used Cars
Buying used cars has many benefits, and we will discuss some of the major ones below.
1. Upfront Cost & No EMI
You will only have to pay once. Unlike new cars, where you pay a down payment, and the rest is deducted from your bank account each year, you don’t have to pay anything later when you buy a used car. There are no Equated Monthly Installments or EMI on the used cars. However, some car dealers may allow installments for used cars, but that is a discussion for another time.
2. Low Insurance Premium
As we were already discussing, used cars have lower insurance premiums than new cars. A major reason for this is that used cars’ parts are way cheaper than the parts of a new car.
3. More Options Available
When you have decided on a budget, you can buy any car that falls within that budget. This is usually not the case with new cars because the prices vary significantly. So, buying used cars have their own perks and advantages.
4. Extended Warranties
The first owner will have the car warranty in their name. But when you purchase a used car from that owner, you can ask them to give you an extended warranty. They will discuss this with their car dealers. This is usually the case with most car dealerships, as they offer extended car warranties for used cars. The extended warranties will include car repairs, maintenance, and checkups. They can save you a lot of money in the long term.
5. Parts are Cheaper
Used cars have cheaper parts because of less demand. When a new car model is released or brought to the market, the price of models decreases significantly, as does the price of their parts. That is why old or used cars have cheaper parts.
We hope that this buying guide has helped you learn how the whole used car buying process works.
If you are looking for more information on buying a car or need help with your search, simply comment below.