Do you need to buy a car soon? Right now you’re faced with a couple of options: you can either buy new or used. Both options have their pros and cons. But what if there was a way that you could get the best of both worlds, so to speak?
Nearly-new cars often represent excellent value for money. Here are some of the reasons why you need to consider this refreshing alternative to new and used cars.
Depreciation isn’t that bad
One fact that most people know but choose to ignore is that brand new cars take a massive depreciation hit. Let’s say that you have just bought a brand new car. Just one minute after driving away from the dealer’s showroom, it could have lost anything up to two grand in value!
If the car you buy brand new isn’t a high-ticket model, that depreciation hit won’t be in four-figure territory. But still, it goes to show how much depreciation can affect a car in just one day!
It costs less to buy
Let’s say that you purchase a car that’s six months old. The car is still new enough to have that “new car smell.” But you could save several grand off the invoice price from a brand new model.
When people buy cars, the primary deciding factor is price. Savvy motorists from all walks of life prefer to buy cars that are a few months old. That way, they can still have the latest model, but they don’t have to cough up the full “brand new” price for it!
To give you a real-life example, I’ve seen some cars at Auto-World that only had 100 miles on the clock. In all other respects, the cars were identical to brand new ones.
The manufacturer’s warranty still covers you
The beauty of cars that are only a few weeks or months old is that the manufacturer’s warranty still applies to the car. That means if your car has a manufacturing defect or fault, it’ll get fixed through the dealer network for free.
When you buy a standard used car, the only warranty you get is a short one from the dealer you buy from. And if you buy from a private seller, you get no warranty whatsoever!
They are reliable
Because nearly-new cars have limited mileage, they are still just as reliable as brand new models. That means you don’t have to worry about mechanical faults or breakdowns like you would with used cars.
Where do nearly-new cars come from?
It turns out that these bargains on wheels come from many different sources. The most common ones are:
- Old stock sold on from other main dealers;
- Demonstrator cars that spend most of their time in the showroom;
- Car auctions.
Franchised car dealers have to buy specific quantities of cars from manufacturers. Sometimes when that stock doesn’t get sold after a period, it gets moved onto other car dealers.
As you can see, it makes perfect sense to buy a nearly-new car instead of a brand new one. Or even a used model!