You’ve seen it before – a deal that sounds great until you get into the hidden fees and costs. You might think that you have done the right thing by limiting your new car search to used, but there are so many additional costs you need to consider before you buy. Knowing what the true cost of a vehicle is, and the additional costs that will come after will help you better understand how great of a deal you are getting, or whether you should move on and find something else.
Buy Used, But Don’t Buy Too Used
Used vehicles are a great deal, but get passed the five year mark, and you are starting to make a sacrifice on safety features. A good rule of thumb is to look for a vehicle that is three years or less, as these are the vehicles that will have the best security features and amenities, and also be more likely to be in line with emissions regulations.
Don’t Just Look at Upfront Cost
The cost of the vehicle is not the only cost that you need to consider. Vehicles continue to cost money throughout their entire life, so account for this lifetime price when shopping.
- Cost of Running the Vehicle
- Tax Costs
Running costs and tax are going to be the most important factors here when budgeting. For example, a hybrid vehicle might be far more pricey than the other options, but you might find that the lifetime savings offered by a hybrid to be far more attractive.
Ensure The Vehicle Has Everything You Need
The best deal in the world is useless if the vehicle in question does not have what you need. A nice sporty car can be fun, but if you need a family car, you will feel the pinch later on. On the other hand, being fully aware of what you need can help you say no to vehicles that have a lot of unnecessary bells and whistles, and instead keep to your budget. Having a checklist, and even using this checklist when searching for used options, is one of the smartest things you can do.
Know What the Market Rate is When Searching
One of the easiest ways to know if you are getting a good deal on a used vehicle is to know the market rate. With used vehicles you need a site, like autouncle.co.uk, that compiles multiple listings and uses their prices to create an autoscore that helps you determine whether the listing in question is a good deal, or not. Easy tools like this are great for finding the best deals and comparing options all at once.
You can find a great used car that is only a few years old and save big, but to ensure you are truly getting the best deal for a used vehicle you need to know what the market rate is, what you can expect to pay in taxes, and other additional costs that will vary depending on the age of the vehicle. Being aware and knowledgeable of these hidden costs will ensure you truly do get the best deal on your next vehicle.