If you don’t like the sound of the above, maybe a nearly new car
might be more up your street. These can fall into a couple of categories.
The first is what’s known in the industry as a pre-registered car. Explaining this in detail is complicated, but essentially it’s a brand-new car that’s been registered with the dealer as its first official owner. Why? Well, dealers have to meet targets set by manufacturers, and will sometimes register cars themselves to meet those targets, and then sell them from their showroom. The benefits to you are as follows:
• You’ll get a brand-new car at a substantial discount over cars that have yet to be registered.
• Manufacturer warranties begin when a car is first registered. This means that, as the dealer registered the car before you bought it, there’ll be less time left on the warranty.
• You may not be able to take advantage of the same finance deals available on unregistered cars.
Other nearly new vehicles are, basically, slightly used cars; those that are less than 12 months old with fewer than 10,000 miles on the clock. The benefits are:
• A car that has already been through the worst of its depreciation, meaning you get an almost new car for much less money.
• Much of the manufacturer’s warranty still remains.
The downsides, however, are as follows:
• No choice over colour, spec and so on; it’s pot luck, depending on what’s available.
• Less of the manufacturer’s warranty remains than with a new car.
• Someone has owned it before you. For some people, this isn’t a problem, but others like to be first!