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New vs used; the advantages of buying a used car

New vs used - The advantages of buying a used car

Posted On 23 Aug, 2017

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When it comes to cars for sale in the UK, the most well-trodden argument is new vs used.

For those who always buy used cars, the answers are simple, as they are for the people among us who only consider new an acceptable option.

However, the majority of people are willing to consider both options, and as such a brief breakdown of the issues and the arguments is always welcome.

Price

The ultimate leveller, price is simply the key when it comes to the used vs new argument. The moment that one drives a new car off the forecourt, the value of the car plunges dramatically.

This may seem illogical but rightly or wrongly it is the truth. And therefore the value of getting your hands on something that's nigh on identical to new, for a fraction of the cost, is powerful indeed.

However, there are other elements to consider. For many people, especially the less confident among us, buying a used car is more complicated. If you don't know a lot about cars, the information out there and the variety of options can be bewildering.

And of course, some people just prefer buying new things, whether that's a car, a suit or anything else out there.

At Hertz Rent2Buy, we are in the business of used cars, for that reason, you would expect us to favour used models, and indeed we do.

But we think used arguments are very persuasive. For many people, a car represents a serious long term investment that's only exceeded by the cost of an actual house or money spent on rent.

We can't see that the additional costs of buying new, for most people, are matched by the additional quality and value of a new car, when the moment you drive away an instantaneous depreciation takes place.

And, cars are not cheap. Therefore, the relative depreciation is more meaningful in real terms, because it represents a serious amount of your money, whereas if you buy used, you can spend this money on a similarly equipped car for a fraction of the price.

The argument will run and run, what's your opinion?

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