Understanding Your Vehicle

Posted on: 2 October 2020

If you've had enough of inner-city living and want to stretch your legs more, you may be thinking about moving out into the suburbs. Life may be a little slower out there, but on the flip side, you won't be able to walk everywhere as you did when you were living in town. Consequently, you need to invest in a car and will be looking at your options. You may like the idea of a brand-new vehicle, but should you think about "nearly new" instead? What are the potential advantages?

New or Used

There is no doubt that any brand-new vehicle today is a masterpiece of engineering. This is a very competitive field, and the manufacturer wants to ensure that their model is reliable, technologically advanced, well built and good to look at. You may also find some sweet deals as the dealers strive for market position, and it may be tempting to make that your first choice.

Mature Market

However, the second-hand car market is also very mature these days, and you may be able to find innovative and enticing finance deals there as well. This may be particularly true when it comes to a vehicle that is only a couple of years old (or nearly new), and these vehicles will have all of the design, build and engineering benefits of a brand-new car or truck.

Weighing It Up

Certainly, your choice may be a little restricted insofar as you won't be able to cherry-pick the trim level, paint colour or engine spec necessarily. You may find that there are only one or two examples of that particular model on the used car lot. However, this car will typically be in excellent condition as it is probably a leased vehicle and will have a full-service history attached. Most of that service will probably have been undertaken by the main dealer as well, so it will be to a very high standard.

Biggest Advantage

Above all else, remember that the car will have lost a significant amount of its original purchase price in the form of depreciation. The original owner will, therefore, have absorbed much of that loss and you will be able to pick it up for thousands of dollars less as a consequence. While it may lose some money going forward, this should be at a significantly lower rate than those first few years, which can only be of benefit to you when it's time to sell.

Your Choice

All being considered, it's better for you to buy a "nearly new" used car. Talk with your local used car dealer and see what they have available.