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Brand new or nearly new?
You could enjoy the benefits of a brand-new car while saving money by buying ‘nearly new’.
How new is nearly new?
We can’t deny that a brand-new car has its strong points:
- You get to personalise the car to suit you, adding as many optional extras as you like.
- You won’t have to worry about service history or not being covered by a warranty.
- Don’t forget about that new car smell.
But did you know that your new car loses about 20% of its value1?
So what about buying a nearly-new car?
The benefits of choosing a nearly-new car
With a nearly-new car, you can expect it to be less than 1 year old and have less than 5,000 miles2. You’ll find that dealers usually use these cars for demonstrations and test drives. So you can expect them to take good care of them.
You could save a lot of money buying a nearly-new car because the dealer is the first owner, meaning the dealer has already taken the 20% showroom loss. And with the car being less than a year old, you’re likely to enjoy many of the benefits a brand-new car offers3. Win, win.
More benefits of a nearly-new car
- Expect a 5 to 25% reduction from the original price - depending on the make and model of the car4.
- Save on MOT costs as the car will be less than 3 years old5.
- Covered by the standard manufacturer warranty – depending on the car registration date and date of buying the car.
- Your car’s already built, so you’ll avoid the long wait for a brand-new car.
What should I keep in mind?
Although the benefits of buying a nearly-new car appear to be clear, it’s good to keep in mind some of the downsides.
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