The Argument for Used Cars:

1) You can get the car of your dreams for the price of a utilitarian runabout

The Argument Against Used Cars

1) It’s not new 2) You never really know if it’s been completely unreliable and cost the owner millions to keep running 3) There might not be any warranty left 3) You might be into the hassle of MOTs 4) The engine might fall out as you drive down the street, leaving you with egg and oil on your face.

There are no hard-and-fast rules here, and no definite answers. I’ve bought a car on Ebay for £2,900 that only twelve years ago set the first owner back £41,900 and it’s been a dream apart from a few minor niggles. I also have a friend who did the same and it exploded a few days later. On the other hand I also know people who’ve spent tens of thousands on a new car which has stopped working at every opportunity, leaving a trail of trim all over the country, only to be greeted by the very same dealer who was all smiles as they handed over their life-savings as if they were vagrants using his forecourt as a public convenience.

Top Tips for Buying a Used Car

1) Know exactly what you want: There are loads of used cars out there, so it’s worth waiting for the one you really want, with all the right options. This is the golden rule – don’t get sucked in to buying the first car you see unless it really is exactly what you want. Do your research thoroughly beforehand – use www.autotrader.co.uk to see how much you should be spending and how many are around.

2) Know how much money you have: There’s always a car a few hundred quid more than you want to spend, so just be firm with yourself.

3) Always ask for some history. Some say never buy a used car without a full service history (a stamped service book from a dealer, or a full set of receipts from a garage, plus all the old MOTs because they list the mileage) and they’re probably right. It’s a massive risk without this paperwork, and there’s always another car round the corner. How much paperwork you’re prepared to accept is up to you, but for ultimate safety ask for the whole lot! What’s you’re trying to do is make sure the car hasn’t been clocked or has been made from two separate vehicles…

3) Get the car checked by the RAC or the AA. This costs, but it’s so worth it if you’re not confident about the condition of a car yourself. Anyone selling should be happy to say yes to this, unless they’re hiding something.

4) Never look at a car at night or in the rain. Both hide a multitude of sins!

A Quick Word on Finance

Of course paying for your car, either new or used, is the downside of all this frivolity. There are lots of options for new cars, from the simple bank loan to complicated dealer financing offers. The most common of the latter is the Personal Lease (every manufacturer calls it something different, but essentially they’re all the same) whereby you’re paying for the car’s depreciation and get a new one every two or three years. Less complicated than it sounds, you pay the dealer a deposit and agree and monthly payment which is lower than it would need to be to pay off the balance of the loan. But, this is where the clever bit comes in…

When you go back three years later there’s still money owing on the car, but that’s not a problem because the dealer takes the old car off you, pays back the remainder of the loan with what he can sell it for (its residual value) and uses what’s left over as a deposit on your next car. It means you can have a new car for relatively low monthly payments every two or three years without having to worry about selling the old one. The downside is you’re locked into that manufacturer, but some people only every drive one make of car. Do check APR rates, as ever.

Don’t discount these schemes completely because they sound complicated. The original idea came from the States and some are very good, allowing you to drive the car you want with the finances available.

Ultimate flexibility is obviously gained by arranging your own finance, and there are always some great offers out there for personal loans, so please please please do a search on the internet before getting a loan from your old faithful bank – it could save you thousands!

Don’t Forget

We’re always here at Women and Wheels, so if you have any problems or questions just drop us a line and we’ll try our best to help.