Why you should buy used and not new

Feb 4, 2022 | All About Cars | 0 comments

After buying your home, a car is often your most expensive purchase. There are many factors to consider when buying your next car, but more often than not, it comes down to cost, which means we choose to buy a used car. Here are a few things to consider if you’re still undecided whether to buy new or used…

Let’s start with the most obvious reason we choose used. In today’s world where prices are on the up on pretty much everything, it’s important we all look at our finances more closely, and buying a used car can help you in the right direction. Used car prices are always thousands of pounds cheaper and come just like new when purchased from a trusted dealership like LMC.

New cars depreciate extremely fast. The moment you drive it from the showroom, it’s no longer new and already starts to lose its value. And by your new car’s first birthday, it’s estimated it has already lost around 20% of its value. Fast forward another three years and your new car could lose up to 50% of its value if milage is above average. Buying used means you’ve already saved money, and you are far more likely to get a healthy amount of your money back when reselling.

By buying used, you could actually get yourself a better car. Instead of getting the base model of the car you’re looking for new, you could get the luxury model used.

If you’ve ever ordered a new car then you’ll know how long and stressful the whole process can be. It can take months to get your new car, and that’s probably longer than you want to wait, especially if you need a car urgently. With used cars, if you fall in love with one, it’s yours, there and then.

If you’re looking for great value used cars from a trusted dealership, then think of us at LMC. All our vehicles are covered by our LMC Dealer Promise with a full 75 point check, recent service, and a minimum of 6 months MOT. We also offer extended warranties and finance on all our cars.