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There are around eight million used cars sold every year in the UK. This equates to around three used cars sold for every one new car sold.
Lower prices and the sheer number of cars available are just some of the reasons driving this high popularity. With more and more customers making used cars their first choice, we take a look at the incentives influencing their decision.
It’s no secret that used vehicles are much cheaper than a brand new car. In actual fact, the saving that this purchase creates allows customers to buy a car with a better specification. In most cases, the insurance rates will be lower due to newer cars having a much higher value.
New cars depreciate the most in the early stages of their life, with new vehicles losing 15-35% of their value, adding up to half or more over three years. Buying a used car where the bulk of its depreciation has already occurred means a cheaper, more appealing deal for vehicle-seekers.
There has also been an increase in quality cars landing at second hand dealerships due to the rise of used car financing. Car leasing allows drivers to regularly upgrade their cars meaning they are leaving behind almost-new vehicles in the hands of the used car dealers. This allows us to sell you quality vehicles at great prices.
Dealerships like Croyland are also providing flexible ways to purchase vehicles. Paying out for a car in one go is not an option for everyone, and financing through a dealer can be a convenient way for customers to pay through monthly instalments. Make sure to research the best fit for you.
As a fun fact, the most popular used cars in the UK remain the Ford Fiesta, closely followed by the Ford Focus and Vauxhall Corsa. However, with more and more vehicles entering the market, as well as the demand for zero emission electric cars, it’s never been easier to find the perfect car.
For more about the options available to you, contact Croyland Car Megastore and we can discuss your requirements and tailor your purchase to suit you.
Croyland Motors Limited t/a Croyland Car Megastore is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender.
We can introduce you to a limited number of finance providers. We do not charge fees for our Consumer Credit services. We may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over, Guarantees may be required
