If you want to enjoy the benefits of driving your own car while saving on costs, you could consider buying a pre-owned vehicle. This type of car is significantly cheaper than a brand new one because the previous owner has already taken care of the initial depreciation costs.
However, your potential savings don’t end there. You can save a bigger amount of money if you know the right way of buying used vehicles. Below are four tips that can help you do just that:
1.Go Back a Few Years
While it may be tempting to buy one of the latest car models for the sheer gratification that driving a brand-new car brings, going back a couple of years can help you save more than you would expect.
Newer cars often come at a premium since they come with the latest technology and features that make driving easier and more comfortable. But the truth is, you don’t need to buy brand new just to enjoy all these benefits.
If you search hard enough, you will find that older models can be just as good as the newer ones in terms of what’s inside the car and under the hood. The best part is that you’ll get to enjoy all the bells and whistles while saving more money in the process.
2.Scout Offers Online
In this digital age, almost all pre-owned car shopping is done with the help of the Internet. Whether it’s through social media or vehicle sales platforms, you can scout the best used car offers online just by clicking and scrolling through websites.
You still need to check the car’s condition in person through a test drive and pre-purchase inspection, but you could get much better deals if you seek out all the available options online.
3.Check the Car’s History
Checking the vehicle history can help you determine the fair price of a used car. While this may entail some additional costs, it will definitely be worth it.
Having the car’s history verified through its vehicle identification number (VIN) will help you see whether you’re getting a good deal or not. Plus, it is only right to practice due diligence before signing all the legally binding documents and shelling out a significant amount of money for a vehicle. That is, of course, unless you plan on spending a fortune on expensive repairs in the near future.
4.Consider Running and Maintenance Costs
Aside from the upfront costs of buying used cars, you should also think about how you can save after you make the purchase. This means you must choose cars that are cheaper to run and maintain.
Below are some factors you must consider in terms of a vehicle’s running and maintenance costs:
There’s more to engine size than just pure horsepower – it also determines the vehicle’s running cost.
In general, cars with smaller engines are better in terms of fuel economy. This is because larger engines tend to use up more fuel than smaller ones.
Of course, this will still depend on how you use your car. For example, if you have a car with a small engine but often drive at high speed, it will need to work harder than it is built to. This will inadvertently cause the engine to burn much more fuel than it normally would.
Manual vs. Automatic
When it comes to convenience, especially during heavy traffic, automatic transmission cars are by far the better option. But this benefit comes with a higher price tag, so you must make sure to balance the hassle of shifting gears with how much you can spare to remove it from the picture.
A manual Audi A3 diesel hatchback, for example, is a lot cheaper than its automatic counterpart. However, automatics tend to use fuel more efficiently since they automatically adjust the gears as needed. This, in turn, helps you recoup the upfront costs over time.
Petrol vs. Diesel
Aside from engine size and the type of transmission, you would also be faced with a choice between petrol and diesel engines.
In terms of upfront costs, cars with petrol engines are much cheaper than their diesel counterparts. On the other hand, diesel is more economical while petrol tends to cost less at the pump, so be sure to consider your vehicle usage before you make a decision.
Car insurance is already a necessity no matter where you are in the world, so be sure to factor this into your decision when buying a pre-owned vehicle.
Keep in mind that smaller cars require lower insurance costs. In short, if you plan to buy a 4×4, you should expect higher insurance fees to cover it.
Save for the Long Drive
There’s a lot more to consider than just the price tag when you’re trying to save money on buying a certified pre-owned car. Be sure to gather all the pertinent information about the vehicle you wish to buy and seek out the best offers first before finalizing your decision. Use this article to guide you towards more savings for a longer drive.
Mahesh Rohra is the Managing Director of certified Pre-Owned Multi Brand Car Sales & Service. AWR Strategic Ventures, Part of the AW Rostamani Automotive Group, a trailblazer in the automotive fraternity with a legacy of over 50 years. AUTOTRUST is the strategic arm business vertical through which the group had diversified into certified Multibrand Car Sales and Aftersales Service Center Network, offering a one stop shop solution for all automotive requirements. AUTOTRUST offers solutions to buy & sell car, Agency standard Car Service and Maintenance, car rentals and much more.