It’s no secret that brand new cars depreciate in value almost as soon as they’re driven off the forecourt. And with the used car market up by 5.1% according to recent figures, pre-owned cars are proving as popular as ever.
But it’s not just cost savings and affordability that are attracting drivers to buy used instead of new. Sustainable motoring is becoming a priority for many car owners with buyers looking for ways to reduce their environmental impact through the type of vehicle that they drive.
We’ll take a look at the benefits of choosing to buy a used car over new models and what to consider when making your purchase.
Overall carbon footprint reduction
While new models generally produce fewer emissions, the manufacturing of new cars contributes to a large carbon footprint for the automotive industry. With the need for new materials and constant production, new car plant emissions are typically very high.
Of course, the exact reduction depends on the type of used car you’re buying, its condition and its individual fuel consumption and emissions.
Contribution to a circular economy
Like with any purchase, buying used also increases the lifecycle of the car and contributes to a circular economy. Instead of creating more waste, choosing to buy a used car can increase its lifecycle. But this is only true if you take care of the car and ensure that it remains in good condition. While you’ll likely need to replace some parts quicker than you would with a new car, with regular servicing, maintenance and good care, you can increase the lifespan of your pre-owned vehicle.
Lower costs
While its obvious that the initial cost of a used car is lower than a new model, there are also other factors involved in the cost-saving aspect. For example, new vehicles often feature expensive technology. If this fails for any reason it can cost hundreds, if not more, to repair or replace. Used car parts, however, are typically cheaper. Depending on the make and model, insurance policies can also be costly.
You should weigh up these costs in relation to any savings you’ll get with a new car such as warranties, no MOT for the first three years and potentially lower tax options.
Other factors to consider
If you’re still undecided about whether to buy used or new, you might also want to think about what you’ll be using your car for, your expected mileage, your individual financial situation and the condition of your current vehicle. These factors can also influence whether you buy a petrol, diesel or electric model.
