Sales of new vehicles across the UK fell considerably in March 2018, with economic uncertainty playing a key role in the 15.7% year-on-year decline in new registrations.
According to the Society of Motor Manufacturers and Traders (SMMT), the decline in new vehicle sales has also been attributed to diesel cars, which has seen demand fall off a cliff in recent months. Traditionally, March experiences a spike in demand for new cars given that it’s a plate-change month for new models.
With fewer motorists looking to brand-new car registrations, more are switching their attentions to leasing programmes and second-hand purchases. There are undoubted benefits of both acquisition methods. With leasing programmes, drivers don’t need to stump up a lump sum overnight to buy the vehicle and instead pay a monthly fee to rent it from a dealership. Meanwhile used vehicles are notoriously better value than brand-new models, some of which depreciate by as much as a third within the first year or two of use.
On the flip side, there are several aspects about used vehicles you must consider before parting with your cash or signing on to that leasing programme. You must look closely at your chosen vehicle’s history to ensure that it offers the best value for money and doesn’t have any gremlins lurking underneath the bonnet.
The importance of understanding a used car’s history
None of us want to make poor decisions with our hard-earned cash, particularly when it comes to something as substantial as a car. Fortunately, there are ways to quickly get to grips with a second-hand car’s history, in terms of its servicing, mileage and its short and long-term issues.
An increasing number of today’s vehicles are what we consider, ‘connected cars’. This describes vehicles that are hooked up to a piece of hardware that can track each journey, monitor fuel spending, driving styles and even developing issues with vehicle parts.
Having an AA Automyze account can also enhance a used car’s value. These free digital accounts can help you log everything from vehicle service records and MOTs to receipts for all work carried out at your local garage or dealership. You don’t need to be an AA Member or policyholder to have an Automyze account. It’s the AA’s way of helping households manage all their vehicles in one easy place.