THE days of picking up a cheap runaround for a few hundred pounds are over. The used car market is strong, so you’ll need to shop around to find the best deals on a used car.
Knowledge is power, so we’ve crunched the numbers, done the sums and spoken to industry insiders to get 10 money-saving tips and strategies that every used car buyer can use.
Whether you’re searching for a city car, family estate or SUV, Sun Motors can help every buyer get a great deal on a used car.
You can search thousands of low-mileage cars that have all been thoroughly checked and approved by our trusted dealers.
And with simple finance applications, it’s easier than ever to find the new car you need with Sun Motors*.
*‘Representative APR 25.9%. Sun Motors are a credit broker, not a lender.’
10 money-saving tips when buying a used car
Here are 10 money-saving tips to help you save when shopping for a used car.
1. Make massive savings with nearly new cars
New cars lose an incredible 20% of value as soon as they leave the forecourt, says the AA and by the end of the first year, your new motor could be worth 40% less than you paid for it.
That’s bad news for new car buyers but great for those who want to pick up a nearly-new car at a fraction of the price.
This 2024 Ford Puma 1.0 EcoBoost Hybrid is for sale at just £20,545 – saving thousands on the list price.
Nearly new cars come with the same warranty, confidence and new car smell – without the depressingly high depreciation.
2. Look for the cheapest cars to run
The cost of a new car is more than the ticket price as running costs of your new car are an essential consideration when calculating the total cost of ownership.
As well as fuel efficiency, you should consider servicing and maintenance, repairs, road tax, insurance and finance (if you’re using it).
Here’s a list of the 10 cheapest cars overall to run, provided by Autoexpress.
- MG3
- Citroen CX4
- Citroen C3 Aircross
- Kia Picanto
- Citroen C3
- Hyundai i10
- Toyota Aygo X
- Dacia Sandero
- Citroen Ami
When shopping for a new SUV, sports car or high-performance car, you can check out and compare stats like fuel economy (mpg) and reliability with some online searching.
3. Manual cars are cheaper than automatic
UK drivers prefer the extra control of a gearshift, with 70% of UK cars having manual gearboxes.
This popularity may be one of the reasons manual cars are cheaper to buy and maintain, says MoneySuperMarket.
While we’re seeing growing sales of automatic cars and electric vehicles (which don’t have a gearbox at all), if you want to pick up a used car bargain, it probably means going manual.
4. Bigger engine = lower price
Increasing fuel prices and the cost of living crisis mean drivers are increasingly focused on fuel efficiency.
When it comes to buying a used car, it’s often the case that the bigger the engine, the bigger the savings.
Why? Smaller cars cost less overall to run, which means they appeal to a larger market.
High-performance cars – including those with larger engines – can have a hard life, so check out our tips on things to look for when buying a used car.
5. Diesel, petrol or EV?
It’s impossible to ignore the fluctuating fuel costs, and it’s having an impact on the used car market, too.
Petrol cars are cheaper to buy and run than diesel cars, says Whatcar?.
As well as the price you pay at the pump, most petrol cars will avoid Clean Air Zone charges, making them cheaper to run, especially if you live in London or one of the UK’s other major cities.
Buying a used car? Find cars for under £150 on Sun Motors here.
6. Investigative insurance costs
Insurance is non-negotiable on UK roads, so don’t ignore it when considering your overall ownership cost.
Here are the top 10 cheapest cars to insure, according to Comparethemarket.
- Citroen C1
- Fiat Panda
- Ford Ka+
- Hyundai i10 Premium
- Kia Rio
- Nissan Micra
- Skoda Fabia
- Vauxhall Corsa
- Volkswagen Polo
- Volkswagen Up! Move Up!
When searching for a new motor, it’s easy to calculate insurance costs using comparison sites. You’ll get results in seconds, and there won’t be any impact on your credit report (more on that next).
7. Tidy up your credit score
In the UK, almost 2 million cars are bought and sold each year – with the majority funded by finance.
Before applying for finance, you should check your credit score. Making small changes, fixing problems and paying off debts can help you access the best rates – enabling you to get the car you want at a price you can afford.
Don’t know the difference between HP and PCP? You can learn more about what vehicle financing means for you and your money in our essential guide to car financing options.
8. Pick your time to buy
According to Autotrader, September and March are the best months to buy a used car at a bargain price, with the release of new registrations, customers are encouraged to trade in their old cars for brand-new ones.
Seasonality can also impact used car sales – it’s going to be cheaper to buy a campervan or convertible in the middle of January than at the height of summer, for example.
9. Buy from a trusted trader
Sometimes, deals really are too good to be true, so you’ll need to trust your instincts when buying a new car.
It can be easy to be convinced by a salesperson, especially if you’re not experienced in dealing with dealers.
We recommend buying a used car from a trusted trader. All car dealers on Sun Motors are verified, with all cars passing thorough tests to ensure they’re safe, reliable and ready for the road.
10. Ask about extended warranties
Any used car should come with a dealer warranty that covers you for faults, issues and errors for a few months. It’s all part of the Consumer Rights Act 2015.
Sometimes, dealers will offer you a good deal on an extended warranty. This can provide peace of mind and confidence that you’re covered for repairs if your car breaks down.
If you’re buying a nearly-new car, you’ll already be covered by the 3-year manufacturer’s warranty. If you’re buying an older car, an extended warranty can be worth it – especially if you get a great deal from your dealer.
Sun Motors: Buy your next vehicle today
If you're part of the 3.3 million Brits looking to buy a used vehicle this year, Sun Motors is an ideal place to start
*If you click on a link in this boxout we will earn affiliate revenue
Sun Motors is a seamless, straightforward, transparent platform that ranks by customer searches, not payments. It offers innovative financing and concierge services, ensuring a simple, fair car-buying experience.
Enjoy:
- A choice of fuel type whether it’s petrol, diesel, electric or hybrid
- A range of models from convertible, estate, saloon and many more
- A range of top brands such as Ford, Volkswagen, Toyota and BMW
- Financing options
- Trusted dealers
Does buying a used car save money?
A used car is going to be much cheaper than a new one. The stats above show that new cars can lose up to 40% of their value in just a year. The new car smell remains, but the cost is almost halved.
What is the most cost-effective way to buy a car?
Some people have access to the cash to buy a new car outright. Others are happy to use the finance offered by a car dealer, including hire purchase (HP) or Personal Contract Purchase (PCP). Buyers may choose to use credit cards or loans to purchase a new car.
You can learn about some of the common car financing options in this expert guide. Before you start shopping and applying for finance, review your credit report and get your finances into the best shape possible. This can help you secure the best finance rates when you make an application.
Buying a used car? Find cars for under £200 on Sun Motors here.
Is it worth spending more on a used car?
When you buy a used car you should consider the total cost of ownership. This is more than the ticket price but includes things like fuel efficiency (miles per gallon), insurance costs and other essentials like servicing and repair costs.
You should also check out any dealer add-ons you might get, like free servicing, MOTs or extended warranties. Some dealers may offer better finance terms, including lower interest rates on HP and PCP finance.
In the end, it may be better to pay a little more for a car if you get a lot of benefits back.
Buying a used car? Check out Sun Motors and find your next vehicle today. Whether you’re looking for automatic, manual or electric, use Sun Motors to decide on your next model.
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