Thankfully there is no shortage of choice when it comes to selecting a used car. These days vehicles tend to last a lot longer than the models built 20 to 30 years ago, meaning you are not necessarily getting a banger when you buy a car which has 80,000 miles or more on the clock. Buying a used car remains the tried and trusted way of getting a bargain set of wheels, and online specialist motoring websites are full of private and dealers’ listings.
Of course vehicles are still relatively expensive, even if they are second hand. You want to consider how you’re going to fund a purchase before you start shopping around.
One option is to use your current vehicle, if you have one, as a bargaining tool by trading in with a dealership. Many forecourt companies are quite prepared to put a price on your car and discount this from one you wish to purchase from them.
Of course this does not necessarily mean you’re going to get what you consider to be the price you may get if you sold it yourself. At the end of the day the dealer needs to make a profit and you are unlikely to receive the amount of cash you may expect to get if you sold the vehicle to a private buyer.
Convenience may be the key when it comes to part exchange. If you are not bothered about holding on to your old car, it may be a simple way of off loading it and funding a new purchase.
Buying a used car from a private seller is often a cheaper but slightly trickier matter. For example they are not going to offer you a part exchange deal, and dealers often offer a warranty on second-hand vehicles, whereas private sellers don’t.
Price is often the main benefit when it comes to buying privately. Sellers typically price their cars below those offered by dealerships, meaning you are sacrificing the safety net off a warranty for a cheaper vehicle.
Wherever you are buying a used car from, it may be advisable to check its service history to see what work has been done on it before, and also look at how long there is to go until it needs a new MOT test or tax disc, which may be used to bargain down the price.
Louis Rix is a Director of NetCars, one of the UK’s leading motoring websites. First established in January 2000, it provides car finance, loans and insurance. NetCars also provides Used cars.