Reasons Used Cars Are Often More Affordable

financing or buying a car

It’s often assumed that used cars are cheaper because they are somehow ‘worse’ than their newer counterparts. The misconception is unfortunate, especially if it deters you from making a more cost-effective purchase.

Used cars are receiving plenty of attention today. The pent-up demand post-lockdown, coupled with supply constraints of new vehicles, led to a boom in sales for previously owned cars at the end of last year. Prices are rising steadily alongside too, with some used cars costing more than their newer models would.

Still, funds can be saved long after the transaction itself too. It’s still a cost-effective transaction, in the long run, so be assured that there are still plenty of reasons to make a purchase here.

Many road users find that used cars have more to offer than they initially suspected. What began as a compromise is, in reality, a golden money-saving opportunity. But what is behind the affordability of a used car? Find out down below.

Haggling is Easier

Though the prices of second-hand cars have risen in recent times, there’s still some wiggle room for negotiation. It may be worth dusting off your haggling skills to bring prices down slightly, where possible.

In the UK, more than 6 in 10 people got some money off the price of their second-hand vehicles. Anyone can succeed here if they’re confident and savvy enough. You can boost your chances of a successful haggle by:

  • Shop around – If you have an acute awareness of market prices, you can be informatively persuasive with your chosen dealer.
  • Adopt a good attitude – Poor hagglers are overconfident and abrasive. Try to be polite and likeable so that dealers and private sellers are more likely to warm to you.
  • Think about behavioural nuances – Try to maintain eye contact. Have good posture so that you appear confident and honest. Refrain from any nervous fidgeting, and avoid any other suspicious mannerisms. Research the dealership’s language and tone before approaching. Then, attempt to emulate it.
  • Don’t go too low – Prices are rising for used cars, so suggesting anything well below the asking price is sure to be scoffed at. Don’t push your luck too far.

Haggling might indeed be easier for used cars, but that doesn’t mean you can get cocky and throw out the rulebook. Stick by the principles listed above, and you’re much more likely to court success, and ultimately, save money.

Cheaper Insurance

Insuring a vehicle is compulsory. It safeguards road user interests and provides you with suitable financial support should accidents or injuries occur.

However, signing up for these premiums with a new vehicle can be more expensive. After all, newer cars are more likely to come with some of the latest gadgetry available in the auto industry, which undoubtedly influences a price hike.

Of course, there’s also the consideration that, in ordinary times, used cars are much less valuable than a new car altogether. They have already gone through some measure of depreciation, which affects both their value and the insurance costs surrounding them.

The amount of money you save on used car insurance can be significant over a prolonged period. Remember, everyone is looking for cheap car insurance and will employ many measures to get it. In lots of cases, insuring a used car is enough to make significant headway here.

Flexible Finance Options

There are multiple ways to purchase a car today. Buyers of used cars have a range of financing options at their disposal.

Access to these opportunities easy to come by as well; all you need to do is visit organisations like Choose My Car. Their team can be with you from start to finish of your car buying journey, negotiating on your behalf and helping you refine your purchasing choices. They work with over 2,500 dealers in the UK too, so they’re in the perfect position to secure you the best affordable financing deals available.

There’s great support available when looking for a used car. If you go it alone, there’s also the chance you’ll slip into the grasp of a dodgy dealer and be lured into purchasing a fautly used vehicle. However, if you approach legitimate services for guidance, you’ll make buy the best used car for you as efficiently as possible, helping you to save time and money in the long run.

Low Maintenance Costs

The owners of used cars benefit from more affordable repair and maintenance costs. There are many reasons for this.

Replacement parts for new cars can be more expensive to purchase. They’re typically the latest in a long line of innovations, and must be in a more pristine condition to make the vehicle function properly.

Parts for used cars are often in stock, too. This means dealers need to spend less time and money sourcing them in specially from their suppliers. Salvage yards may even have what you require, giving you a hefty discount on acquiring what you need.

Used cars are expected to depreciate faster than new models too. Repairs and replacements might be more common, but the costs can be cheaper due to this circumstance. Otherwise, customers would be soon out of pocket, and dealers would have much less business.

Cheaper Road Tax

Owners of used cars often do not have to pay as much road tax. If they’re savvy enough, they may not even have to pay at all.

For example, owners of vehicles built or registered before 1981 can apply to stop paying road tax entirely. It’s another instance of shaving costs off of vehicle ownership, and can help people conforming to a strict budget breathe a little bit easier.

There’s more to consider when buying a car than the upfront costs alone. Add-ons like taxes can often push people’s spending to a brink. In some instances, they may even mark the difference between someone making a purchase or not. Anyway to mitigate the overall costs will no doubt be appreciated by many. 


As you can see, there are innumerable cost-effective perks to purchasing a used car. Even those who begrudgingly buy a used vehicle during hard times can find a plentiful amount of silver linings here. The cost of second-hand cars has risen, but it’s to be hoped that the perks listed above can help offset much of the expense.


More to explore

pcp car finance

How to Save Money Driving

I recently did a long car journey, for my eldest sons football, it’s always for football, to Nottingham and back. It was


Lynn Beattie

Aka Mrs MummyPenny

Personal Finance Expert

I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

Get the latest…subscribe to the newsletter for hundreds of money saving tips.

I wish to receive emails & promotions.

follow Mrs MummyPenny

Leave a Reply

Your email address will not be published.