If you’re a new driver, you’ll be feeling excited about the prospect of buying your first car. But should you buy brand-new or second-hand? The decision is not just about wanting the latest shiny model. If you add rising insurance premiums and cost-of-living pressures into the mix, what you choose becomes even more important. These days, new drivers are turning to used cars as a sensible way to get on the road without overstretching their finances. Read on to find out why buying second-hand makes practical and financial sense, and can even offer advantages when you’re just starting out behind the wheel.
A used car costs less upfront
Of course, the big advantage of buying a used car is that it’s cheaper than a new model – making them more accessible for younger drivers who also have to budget in insurance, fuel, and maintenance costs for the first time. By spending less on the car itself, you’ll have more room in your budget for these essentials. You also won’t need to enter a long-term finance agreement – so will have more flexibility if your circumstances change.
Used cars depreciate slower
New cars lose value as soon as you drive them off the lot, and then very quickly in the year or two after. Used cars tend to depreciate at a much slower rate. If you’re a new driver, you may only want to upgrade after gaining more experience so buying used right at the outset means you’re less likely to lose a large sum of money when selling or part-exchanging it later on.
Second-hand cars come with lower insurance costs
Insurance companies set premiums based on how much of a risk you are – which doesn’t favour new drivers with their limited driving history and lack of experience. And since the damage to a new car will cost more, they cost more than covering an older model (which will fall into a lower insurance group). Don’t just look at the monthly payment for the premium – over time, the savings can make a noticeable difference, especially since you’ll be managing multiple new expenses.
Hatchback or city car? Used cars give you a wider choice of models
Finally, buying second-hand opens up more options. The used car market is booming and these days you can get anything from compact cars to practical hatchbacks and small family vehicles at hard-to-beat prices. You can get something that actually fits your lifestyle (like a more efficient city car rather than an overly-large family car that is cheaper) rather than just your budget. For example, there are plenty of used cars in Sheffield in a variety of models, offering flexibility in size, fuel type, and features so you don’t need to overpay for a newer version.
Used cars: A smart first step into driving
If you’re a new driver, buying a used car is not just about getting an older, cheaper version of the model that you want. It comes with lower depreciation, cheaper insurance, and far greater choice. It’s a great way to gain confidence and independence on the road without unnecessary financial strain at this early point in your driving journey.
