Why Buying A Used Car Makes Financial Sense
The recession is still biting hard and with rising household costs money is still extremely tight
. One vital thing to keep a family going is access to a car. We need them to get to and from work, visit friends and just keep the family upwardly mobile. However, they are not cheap to buy, or run, and so we have to find the best deals to make sure they don't break the bank.
This is why the used car market is currently at its peak. A study by British Car Association (BCA) highlights how the used car market has easily overtaken the new car market in recent years. In 2011, there were $35.7 billion worth of used cars sold, compared to just $29 billion of new cars. Back in 2007, this figure was far more even around $33 billion each.
Given the financial climate, there is no wonder that the used car market is booming. When your car ends up in the great scrapheap in the sky then the financial pressure to get a new car can push purse-strings to the point of breaking. This is where the used car market comes into its own. You can buy quality cars, like Fords, BMWs and Mercedes, at rock-bottom prices in comparison to buying them new and losing thousands of pounds off their value as soon as you drive them off the forecourt.
The BCA survey found that half the respondents, who had considering buying a used car in the coming twelve months, would do so only if it was at an affordable price. Other reasons cited for dipping into the used car market were low mileage, make and model, engine size and body type. This highlights why the used car market it is so popular because you can pick up quality cars at reasonable prices.
The best deals to be had are on nearly-new used cars. If you plump for an older model in the long run it could cost more to run. There could be underlying issues that could need repair in the future that negate the saving you made on the forecourt. Recently used cars, with low mileage, are where the savvy money should be spent when delving into the used car marketplace. They offer the most future-proof option compared to great bargain deals on older cars with more wear and tear over numerous years.
If you are considering dipping into the used car market and searching for used cars in Edinburgh, or used cars in Falkirk, you won't be short of options.
by: Belloc Carroll
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