Being a parent can place financial strains on all aspects of your life, but there are several money-saving options available to parents that can really make a difference. One of those areas is looking at cars. Having a car can be very beneficial as a parent; it makes travelling and transporting your children to everywhere you need to take them much more straightforward. For this reason, looking for used cars rather than new cars can represent significant savings.
Firstly, when buying any car, it’s always beneficial to do as much research as you can into the available options. This means not only researching the type of car you’re hoping to buy, i.e. hatchback, SUV, estate, etc. to see if it fits your needs, but also the price differences between different brands and dealerships. For used cars, this is particularly important as there can be significant variations in the pricing of similar vehicles between two used car dealerships. Searching online is, for most people, the first choice now. However, don’t be afraid to ask around your local community to find out if anyone has had any particularly good experiences with specific dealerships. Also, don’t be scared to look further afield, if you’re based in Edinburgh, it can be worth finding out about the used cars Aberdeen has in comparison to Edinburgh. Being able to demonstrate a knowledge of prices for similar vehicles at other dealerships improves your negotiation position. All the research you do means you’ll be in the best position to save as much money as possible when you buy.
Depreciation of new cars, where their value falls over time, starts the moment they are driven for the first time, in comparison used cars can hold their value much better, depending on their specification and maintenance. As a result, you won’t lose so much value straight away. Also because of depreciation, the range of cars on offer is extensive, and you’re more likely to find vehicles with higher specifications for less.
When it comes to insurance, there is no easy answer as to if it is cheaper to insure a used car over a new car, the simple answer is it can be it depends on you. On the one hand, more modern cars can be safer and more secure but also more expensive to replace or repair if anything happens to it. Your driving history determines the price of your insurance along with where you live and not just the type of car. Ultimately its always worth getting quotes for cars and you can see directly what the insurance will be, but used cars can be cheaper to insure.
Finally, an advantage of buying a used car which often gets forgotten is the fact that you do not have to wait to take the car home. As parents, when you rely on a car for many tasks throughout the day if that car suddenly breaks and you need to buy a replacement, being without a car can cause problems. A used car can be found, tested, purchased and driven home in the same day compared to the possible waiting times for a new car to be sourced from another dealership if none are in stock or even made to the specifications you wanted.
Overall there are many advantages to buying a used car, but it is hard to look past the financial savings that can be made compared to a new car.