Buying an approved used car is a popular option amongst those looking to purchase a reliable car without the hefty price tag.
With increasing rates of inflation and people looking to save money where possible, buying an approved used car rather than a brand-new vehicle could become the norm for many customers. In fact, statistics show that the used car market in the UK grew by 5.1% in the first quarter of 2022.
We’ll take a look at what exactly an approved used car is and what to consider when purchasing one.
What is an approved used car?
Simply put, an approved used car is a second-hand car in the best possible condition. They’re specifically chosen by dealers for their excellent condition, low mileage, one previous owner, and pristine history. They’re then marketed under an approved used car scheme. Many car dealerships and manufacturers offer plans similar to those provided on brand-new vehicles, meaning customers benefit from guarantees, full car checks, and warranties. If you choose to buy an approved used car, you’re then safe in the knowledge of your vehicle’s great condition and solid history.
Reasons for buying an approved used car
Such schemes and benefits provide peace of mind to the customer that they wouldn’t otherwise get from a used car. Under the scheme, dealers are able to verify the repair history of the vehicle and therefore only label used cars as approved if they meet the strict requirements. Customers can take advantage of huge savings, compared to what they would pay for a new vehicle, as well as the right cover if anything were to go wrong during the first few months or year of ownership. The savings will obviously depend on the make and model but you’ll often find bigger savings on vehicles that are more expensive when sold brand new, such as an approved used Land Rover.
Is an approved used car worth it?
If you want the peace of mind you get from buying new but for a lower cost, then choosing an approved used car could be worth it. Although you won’t benefit from the extended warranties you get with some manufacturers, you won’t be left in the dark should there be an issue early on. The car will be subject to a full check, including the history, so there shouldn’t be any nasty surprises.
Buying a standard used car can come with issues such as unknown history, incomplete checks, and lack of warranty, depending on where you choose to purchase from. However, if you like the idea of owning a car from new, with the full benefits package, and you have the budget, you might want to stick to buying new from the manufacturer.