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There are many options when choosing your next vehicle, do you buy a new vehicle, nearly new or used, there are distinct pros and cons of each option. 

New Vehicle

Pros

  • Customisation

    Buying a new vehicle allows you to tailor it to your exact specification, ensuring you get all the features and aesthetics you desire.

  • Manufacturer Warranty

    New cars typically come with comprehensive manufacturer warranties, providing peace of mind regarding unexpected repairs or issues.

  • Advanced Technologies

    The latest models often feature cutting-edge technologies, enhancing safety, efficiency and overall driving experience.

  • No Unknown History

    With a new vehicle, there's no history of accidents, repairs or neglect to worry about.

  • That new car smell

    The job of experiencing the fresh and distinctive smell of a new car is a unique perk.

Cons

  • Rapid Depreciation

    New cars depreciate faster in the initial years, leading to a significant loss in value.

  • Waiting Time

    You may need to wait for the vehicle to be built and delivered, which can be inconvenient if you need a car immediately.

  • Higher Cost

    Purchasing a new car is more expensive due to factors like higher initial price, taxes and insurance premiums.

  • Cost of Insurance

    Insurance for new vehicles is usually more expensive due to their higher market value.

  • Increased Road Tax

    Post-2017 road tax rates tend to be higher for new vehicle, adding to ownership costs.

Nearly New Vehicle

Nearly new vehicles are from a dealer’s demonstration fleet or one from their ‘pre-registered stock (vehicles that have been notionally bought by the dealer in order to meet sales targets).

Pros

  • Reduced Depreciation

    Nearly new vehicles experience less depreciation compared to brand-new cars, saving you money in the long run.

  • Advanced Features

    These cars often come with the latest technologies and advancements without the hefty price tag of a brand-new car.

  • Low Mileage

    Nearly new vehicles typically have low mileage since they're either from a dealers demo fleet or pre-registered stock.

  • Cost Savings

    They're cheaper than brand-new vehicles, often discounted by 10-30%, offering excellent value for money.

Cons

  • Extra name on registration

    There might be an additional name on the registration document, potentially impacting the vehicles resale value.

  • Limited Availability

    Choice can be limited as nearly new vehicle might not be readily available at every dealership.

  • Warranty Commencement

    The manufacturer's warranty starts from the car's initial registration, potentially reducing the coverage period if the car has been registered for some time.

Used Vehicle

Pros

  • Immediate Availability

    Used cars are readily available for purchase, allowing you to drive your chosen vehicle almost immediately.

  • Significant Cost Savings

    Used cars are more affordable due to depreciation, making them an attractive option for budget-concious buyers.

  • Wide Choice

    The used car market offers a vast array of choices in terms of make, model, colour, features and more.

  • Lower Insurance Costs

    Insurance premiums are typically lower for used cars due to their lower market value.

  • Extended Warranty Options

    Many dealerships provide warranties for used car, offering additional peace of mind regarding potential repairs.

Cons

  • Unknown History

    Verifying the vehicle's mileage, maintenance, and overall condition can be challenging, leading to potential reliability concerns.

  • Potential Compormises

    Finding an exact match for your desired specifications, colour, or features may be difficult with used cars.

  • Regular MOT Testing

    Vehicles over three years old require annual MOT tests, adding to maintenance responsibilities.

  • Reliability Concerns

    As used cars have been previously owner, their reliability and maintenance history may be a concern.

We Put You In Control!

At Motor Loans R Us, we understand the importance of making the right choice for your next vehicle. Whether you opt for a new, nearly new or used car, we’re here to provide you with the financing option that best suit your needs. Choose your vehicle from any reputable dealer and tailor your payment plan to put you in control of your automotive journey. 

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