With a slowdown in consumer spending those who can afford a brand new car are dwindling, not only can you expect to lose thousands in the first year of ownership, but the premium for having the newest model is huge. Ultimately it is a waste of money; a more advisable course of action is to buy used cars from manufacturer approved dealers. Used dealerships for companies such a BMW, Audi, Citroen and Vauxhall all put a guarantee on their used cars to ensure that customers always receive a car that is good working order.
When you are looking for a new car, and by new I mean used, it is vital to compare the options and study the market in detail. By comparing different models in a particular range you can be presented with cars that all meet your needs meaning that your only decision is on brand name and the features. For instance an executive may want to consider cars such as the Audi A6, the BMW 6 Series or even something a little different like the Citroen C6. While the Audi has a better record with fuel economy, the Citroen has better safety features; the customer may even consider this and decide to go for the BMW purely out of badge snobbery.
Approved used cars make more sense when you consider the depreciation rates for many vehicles, especially when bought new. A recent motoring report found that new cars can depreciate by as much as thirty five percent in its first year of being driven, if a car costs fifty thousand pounds, which is over a seventeen thousand pound loss in one year; any accountant will tell you that is bad idea. Approved cars that are around five years old are normally the best option considering that deprecation continues for the four years after the first year drop at a rate of thirty percent. Cars made by Audi, BMW and Mercedes are especially susceptible to this drop because of their premium nature, making used varieties an unmitigated bargain.
Fuel costs are increasingly becoming an important consideration for car owners and this should definitely influence the decision you make when buying. While models such as the BMW X5, a huge 4x4 were popular in the past, more advisable is to get a car that suits your needs, if you are a small to large family a car like the Audi A3 or the Toyota Corolla make perfect financial sense. If the environment is large consideration in the buying process, cars of the hybrid variety such as the Prius are becoming a popular option, not only are they more eco-friendly they will keep those fuel bills low.
Even with approved used car dealers it is an essential part of the buying to take the vehicle out for a test drive. By doing this you can get an idea of the car's handling and performance whilst also picking up on any foibles the car may have. If you are buying a car that can be considered high performance such as an Audi S8 or a BMW M5 it is important to keep a level head; while driving fast may be fun, the premium you must pay for it is considerable. Remaining realistic to your finances is essential at all times.
Whenever you are buying a used car it is always advisable to take a person with you that has knowledge of cars. By doing this it is possible to minimise the chances of getting stuck with a car that will have problems after six months.
Whether buying new or used the choice is ultimately the customers. Some may just like the new car smell and purely want the prestige of having the newest model. However for those who have a financial incentive to their way of thinking, going along the approved used route is highly advisable.
Motoring expert Thomas Pretty looks into why approved used Audi dealers can be considered a more affordable buying option.