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How to Future-proof your Next Vehicle Purchase
How to Future-proof your Next Vehicle Purchase
Car Loans
Mar 11, 2021

How to Future-proof your Next Vehicle Purchase

Get some tips before you visit the dealership

Thinking about buying a new car? Before you head to the dealership, be sure to read up on how you can future-proof your next vehicle purchase. From the pros and cons of new cars to emerging technology that’s on the rise, you can learn more below:

Weigh up the pros and cons of new and second-hand cars

The idea of buying a brand new car can be very appealing. Not only are they often more efficient than older vehicles, but running and insurance costs are typically much lower. Manufacturer warranties also help to sweeten the deal, as does the option to choose the paint colour, accessories and more. However, while the perks might be great, new car owners are faced with an average vehicle depreciation of 30% in the first three years alone.

Although new cars are coveted by many, savvy shoppers can purchase a relatively new second-hand car with low mileage for a fraction of the original sale price. Avoiding the depreciation that new car owners face, second-hand car owners can find themselves better off financially. It is important to note, however, that as a car ages, unplanned expenses and repairs can become more commonplace, leading to higher costs in the long run.

Take some time to compare classic gas guzzlers with greener models

The infrastructure supporting electric cars has started to improve in recent years with the number of charging stations located across the country steadily increasing. While they haven’t turned the automotive industry on its head just yet, the promise of lower running costs and a lessened environmental impact is helping to make electric models more appealing. At present, the purchase price for electric cars remains relatively high, with less than 2% of all cars sold in 2018 running on electricity.

With no subsidies currently available for electric models, it comes as no surprise that traditional petrol-powered cars remain the vehicle of choice for many. Cheaper and more readily accessible, regular cars also continue to hold the upper hand on fuel, with petrol stations far easier to find than charging stations, particularly in rural areas of the country.

Keep the future in mind

Although they might still be a way off yet, autonomous vehicles (AVs) are closer to becoming a reality than ever before. Plenty of time and money is still needed to ensure that they can be properly integrated into everyday use, but once their development has been finessed, they’ll change the face of motoring forever.

Always remember to take the time to research your options carefully before sealing the deal to ensure you get the most value out of your car purchase.

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