Brand new cars are most certainly not in fashion - not by choice but due to the state of the global economy. More and more people are looking at the used car market when wanting to upgrade their car, as bargains are there to be had, especially when you take into account the money that you will lose when buying a brand new car in terms of depreciation.
Sales figures of brand new cars in the UK are down by almost a third compared to last year which has had an adverse effect on car manufacturers resulting in production stoppages and many plant workers losing their jobs. Honda, who performs well in the best car lists, closed their UK plant in February for four months and BMW recently laid off 850 workers at their MINI plant in Cowley, near Oxford.
When people are so reluctant to upgrade their cars they look for the alternative, which in this case is to buy a used Honda, a used BMW, a used Lexus etc. And many people are looking at used cars that are most reliable - the last thing you want to do when purchasing a used car is to haven to fork out on garage bills as soon as you've bought it.
Used Honda cars are some of the most reliable out there - in 2007 Honda topped the manufacturers' league of reliability and had six of the ten most reliable cars in the top ten list. Used Honda vehicles also came out on top in the Which? 2008 reliability survey and is an indicator as to why used Honda sales are steady in a declining market. If you're in the market for a used car then reliability really is the key: in a recent consumer survey reliability was the most important factor for used car buyers, coming in ahead of added extras, fuel consumption, speed (0-60mph, comfort and other factors.
Buying a new car is always a luxury purchase - you don't invest when buying an on the road vehicle. As soon as a brand spanking car is driven out of the showroom it loses money - give or take a few per cent, and of course depending on which car, a vehicle will depreciate by around 15 per cent after its first year of ownership on average mileage. This is a major factor as to why people are looking at the used car market for their next vehicle.
Private sales can get you a bargain but is always a risk. Never touch a car that doesn't have full service history and has not been serviced exactly when it should have been. Buying from a registered dealer is much safer as you will receive at least a 12 month warranty. Even though you will pay a slightly higher price, the risk element of the purchase will be eliminated.
Registered dealers run thorough checks and tests on the car, both inside and out. Better to get the experts to check over a car that you will potentially buy than risk buying from a complete stranger, who may well be trustworthy but will offer you no fallback should the gearbox seize up or the clutch fall out a few days after purchase!
It's always better to be safe than sorry when delving into the used car market and brand specific dealers will offer the expertise which means your car will be in good nick when you drive it off the forecourt.
Author Resource:-
Shaun Parker is an engineer with many years of experience in the car industry. Find out more about /used Honda at http://www.hondainchcape.co.uk
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