Nearly new cars give drivers the possibility of saving quite a bit of money when looking for a new vehicle – but what does ‘nearly new’ actually mean?
Well, depending on the dealer, nearly new cars will have noticeably low mileage and such vehicles can be found with 5,000 miles as much as they can with just 10. Meanwhile, they will usually be no more than 12 months old from new.
You may also run into other names that effectively relate to a similar product. An ex-demo car, for example, is a display model that has been taken for test-drives and will tend to have more mileage for this reason.
Meanwhile, if you want a nearly new car with the lowest mileage possible, then seek out a pre-registered example. This means the car has yet to be run-in, but instead the dealer has registered itself as the car’s first ‘Keeper’, therefore there is an immediate discount on the vehicle due to this action.
As nearly new cars tend to be under 12 months old, the chances of you getting the latest version of a model are high, while the dealer has also taken the brunt of the initial depreciation, usually by pre-registering the car.
These types of cars are a great option if you’re looking to save, especially knowing that after three years a typical new car will lose up to 50-60% of its original value!
However, as with everything, there are things to keep in mind:
Such cars may not come in your preferred colour or trim; however, what can happen is that if an ex-display model is for sale, many of which are usually top-spec, as the dealer has been wanting to show off the model in its best form.
You should also be aware of ex-demo cars – they have many more miles on the clock, while some are even given overnight for test drives, so they might not be as pristine as a pre-reg example.
If you want to get as close as possible to a brand-new car, pre-registered is the way to go.
Nearly New Car Warranty
Because these cars are, as it says on the tin, ‘nearly new’, you’ll find that the bulk of the manufacturer warranty will still be valid. Just keep in mind, the older the car, the less manufacturer warranty will be left.
However, there are manufacturers that offer full warranty and reset the warranty period if the car is less than six months old.
Nearly New Car Finance
Just as with new or used car, you may want to take out finance to spread the cost – the same options are available in this instance for nearly new vehicles, too. There is a wide variety of choice, whether you want to own the car at the end of the agreement with Hire Purchase (HP), or just have it for a short contract and exchange it come the end with Personal Contract Purchase. You may also find 0% APR finance deals for those that have an outstanding credit score and don’t want to pay any interest.
Have you had an experience with nearly new cars? Share it in the comments!