Purchasing your first car after you’ve passed your driving test is an exciting milestone, but it can also be a financially daunting decision. For first-time drivers, opting for a used car over a brand-new one is often the smarter financial decision. With lower upfront costs, reduced insurance premiums, practical benefits, and more, used cars are a great, budget-friendly option that provide great value.
Read on to find out more about why purchasing a used car is a financially wise decision for first-time drivers.
Why Used Cars Are More Affordable for First-Time Drivers
One of the main and biggest advantages of choosing a used car over a new one is the affordability. There are significant cost savings associated with buying used cars, especially due to the fact that new cars depreciate in value over time, causing them to lose a large percentage of their overall value in just the first few years.
Owning and maintaining a used car can also work out to be a more financially safer option in the long run, as used cars are likely to have smaller monthly payments compared to new vehicles. Newer vehicles also come with more complex technology and smart features, which can be a lot more expensive to repair compared to older cars that have simpler designs and parts readily available. Ownership and maintenance of used cars are much more affordable for first-time drivers, who may still be in education or just starting in their careers, allowing them to enjoy the freedom of driving without the heavy financial burden.
Lower Insurance Costs and Running Expenses
Insurance for first-time drivers is typically high regardless of what vehicle you own and drive – but it can rise significantly if you purchase and drive a new car. Insurance companies take into account the value of a car when working out the price of your premium, so opting for a used car for your first vehicle can help to drive down the cost of your insurance. This is because used cars have a lower market value compared to new ones, and their running costs are also significantly lower.
In addition to insurance savings, used cars have lower registration fees and are also more fuel-efficient as they tend to be smaller and require less fuel, making them a smart, economical and cost-effective option for first-time drivers.
The Best Used Cars for New Drivers
For new drivers, choosing their first car is both an exciting and nerve-wracking decision, and it’s easy to get confused with all the different options that are out there. Key things to look for in your first car include reliability, affordability, and safety. Here are some of the top reliable and budget-friendly models for first-time drivers, according to WhatCar.com:
- Kia Picanto: This stylish little car represents good value and is backed by a lengthy warranty.
- Ford Fiesta: The Ford Fiesta is great to drive and a secure option with inexpensive parts and repairs.
- Toyota Yaris: Renowned for economy and reliability, the hybrid models render it a sensible budget option.
- Renault Clio: Thanks to its comfortable ride and stylish appearance, the Renault Clio is an excellent supermini for first-time drivers.
- Vauxhall Corsa: A best-selling and inexpensive option in the UK, the Vauxhall Corsa is a reliable, practical day-to-day vehicle.
- Suzuki Swift: Fun to drive and economical, the Swift’s agile handling makes it a bargain.
- Dacia Sandero: The Dacia Sandero offers cheap and practical motoring with an emphasis on value.
- Honda Jazz: A practical option, the Honda Jazz has a reliable engine and a roomy interior.
How to Avoid Common Mistakes When Buying Used
While buying a used car is a great financial option, there are some key things you should take into consideration before making your purchase:
- Check the vehicle’s history report to ensure the car has no outstanding finance and to check for mileage discrepancies or reports of any major accidents.
- Get a pre-purchase inspection done by a mechanic to help identify any faults or potential issues.
- Take it for a test drive to check the car’s performance and level of comfort and ease.
- Buy from a reputable dealer – trusted dealerships sometimes offer warranties and quality assurance, giving first-time buyers peace of mind.
For young drivers, a used car is generally the most sensible choice, offering affordability, lower insurance rates, and reliable performance. With the right model choice and proper caution when purchasing, young drivers can find a car that will fit their budget and needs.
