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Used is the new NEW: More than ever, used cars rule supreme!

Used is the new NEW: More than ever, used cars rule supreme!

27 September 2022 Concept Car

Buying a used car has endless advantages. Did we really need one more?

Perhaps not. And yet, a recent news report made the case for second hand vehicles even stronger.

In case you’ve been contemplating getting a new vehicle, this should give you something to think about.

So what, exactly, are we talking about here? Essentially, we’re dealing with a crisis of epic proportions. Let’s start at the beginning:

People are buying less and less cars.

According to the Society of Motor Manufacturers and Traders (SMMT), “manufacturers have had problems fulfilling orders” and “only around 800,000 new cars were sold during the first half of the year.”

This is a veritable disaster after manufacturers were finally looking to make profits again after the lockdown.

As a result of their production problems, the industry just reported the weakest opening half of the year for 30 (!) years.

That’s too bad. But why should you care?

Because waiting times have radically increased.

If you were to order a new car today, you can expect delivery no earlier than in six months. If it’s an in-demand brand and model, you may have to be patient for longer.

12 months from contract to delivery are a serious possibility.

Yes, you heard that right: If you want and order a new car now, you may have to wait until 2023 before you get to drive it home.

EVs are hit particularly hard.

Why so?

Simple: The stronger the demand, the longer the delivery time. Manufacturers are already unable to meet demand for less popular cars. Demand for electric cars, however, is almost exploding.

Contrary to the market at large, this sector is experiencing steep growth. And so, as Ben Nelmes of Green motoring consultancy New AutoMotive has stated, “We hear that delivery times for electric cars are now between 40 weeks and a year. The supply of electric vehicles is the biggest barrier to cleaner road transport in the UK.”

So, even though the UK will soon make the full transition to electric cars and drivers are on board for this change – they are left standing in the cold.

And wait, things get worse … Cars are not only taking longer to produce.

They’re also becoming more expensive!

That’s right. Because the materials required for semiconductors and batteries are harder to come by than they have been in a long time, their prices have gone through the roof.

Add to that inflation in general, and the need for manufacturers to offset some of the loss they made due to Covid, and you’ve got the recipe for a drastic price hike.

Which would still, potentially, be tolerable. However, think about it:

Are new cars really still “new” anymore?

One of the most convincing reasons to buy has always been that more recent technology offers more convenience, comfort and safety and should potentially be better for your purse and the environment.

However, the current situation is creating a serious problem in this regard.

If you buy a car today and can drive it a month later, you’re using state of the art technology. If, however, delivery is delayed by twelve months or more, that “new” technology is already out of date by the time it arrives.

This is unacceptable, especially considering the steep and still rising prices of factory new models!

So what to do? Well, it’s not that hard, really:

Used is becoming the new “new”.

Even though used cars have become more expensive, they are still a lot cheaper than factory new models. Choice is also a lot of better.

Most importantly, there are next to no waiting times. If you can buy the car now, there should be nothing stopping you from driving it home on the same day. Which means that you have a lead of up to a full year over those who chose to buy new.

In terms of technology, your deficits will hardly register in many cases. And most importantly, you get to drive your vehicle and make full use of it.

For all of these reasons, used cars are becoming better than their new counterparts in many respects. Which may feel weird but only goes to show what we’ve maintained all along:

If you look at the evidence, there really is no reason for anyone with a limited budget to buy new these days.

Buy used at Concept Car Credit!

That said, if you want to draw the full benefit of used cars, you need a dealership that will go the mile.

At CCC, we offer you the full service package:

  • A great selection of used cars for all budgets and needs.
  • All cars are in excellent shape and have been intensely scrutinised, tested and repaired if required.
  • Easy and fairly priced car finance even for those who have been rejected elsewhere.
  • Quick decisions on finance applications.
  • Set monthly rates according to what you can pay and only pay a deposit if you can really afford it.

Curious about the used-as-the-new-new-experience? Then get in touch now and let us help you get behind the wheel.

27 September 2022 Concept Car