How to Decide Between a New and Used Car

So, you’re on the market for a new car?

But, do you go brand spanking new or pre-loved?

Deciding on the right car for you can be a tricky task, especially when there are so many factors to think about – from budget and finance options to warranty cover, depreciation, and running costs.

The good news is, whether you choose a brand-new vehicle or a reliable used car, there are advantages to both. In this guide, we’ll help you weigh up your options so you can make an informed decision and drive away with the car that best fits your lifestyle, needs, and budget.

New Cars 

Pros	Cons
Access to the latest technology and safety features	Higher purchase price, even when paid by finance plans
Manufacturer’s warranty	Depreciation by 20-30% in the first year
Customisation options	High insurance costs

Used Cars 

Pros	Cons
Lower purchase price	Wear and tear
Slower depreciation	Reduced warranty
Better value for money	Fewer choices
Flexible finance options available

What to Consider

Budget 

If your budget allows for higher deposit, lump sum, or monthly payments, then feel free to look at cars straight off the conveyor belt. 

But, if you don’t want to blow all of your money, used cars give you everything you need without the eye-watering cost. And, opting for a used car on finance to spread the cost into manageable monthly repayments means you can still enjoy reliability and choice, without putting unnecessary strain on your finances.

Driving Habits 

If you drive far and wide regularly, you need an engine that can keep up with you. Newer cars have a few more miles in the tank, while used cars are recommended to those driving locally and the odd road trip. 

Features and Technology 

While new cars are advertised as having the latest and greatest, it doesn’t mean used models are behind. 

Here at Concept Car Credit, we have a wide range of vehicles containing some impressive safety features and tech capabilities. 

CTA: Take a look at our available cars. 

Car Supplier 

No matter what type of car you decide on, your number one priority should be which dealer you choose. 

Make sure they have flexible options when it comes to finance, a wide range of cars to choose from, and unbiased advice to help you with your decision. 

Finance Options 

Financing a car is a great way to get behind the wheel and despite common myths, there are various types for different drivers. 

If you like to change your car frequently, personal contract purchase (PCP) allows you to get a different one when your agreement comes to an end. If ownership is the goal, hire purchase (HP) means you will own the car outright at the end of the term. 

To Buy New or Second Hand?

There’s no one-size-fits-all answer when it comes to such a big purchase, so it’s important you ask yourself all the necessary questions before taking the plunge. 

Here at Concept Car Credit, we specialise in used car finance, reconditioning pre-loved models, and ultimately, giving people the best deals on their next vehicle purchase. 

Give us a call for more information on how we can help you.