Buying a used car is a great way of cutting the cost of your driving as most new cars lose around 40% of their value in the first year.


Wherever you choose to buy, here are some general tips on buying a used car.


Always carry out good research before you start looking at any cars


It is important to do some thorough research to determine how much you’re willing to spend and what type of car will suit your needs, as well as any additional details like insurance costs, road tyres and fuel consumption.


The last thing you want is to be talked into something you aren’t familiar with, so try and build a target list of cars that meet your needs and also fall within your budget beforehand.


Consider the pros and cons of buying privately or via a dealer


When buying a used car, you can choose to go through a dealer or directly through a private seller.


My Car Credit can provide finance for any car as long as it is from a reputable UK motor dealer.


The upside of buying a car from a dealer is that you’ll usually get a warranty, whereas with a private seller you’re pretty much on your own.


Dealers also offer financing options and are required to adhere to stringent operating procedures which minimises your risk of being cheated.


Think about running costs


Depreciation (reduction in value) due to increasing age and mileage is usually the biggest running cost, although buying a used car often means you avoid the steepest drops in value, which happens early on in a cars life.


Get a valuation


Online valuation tools will give you a bespoke valuation for the car you’re thinking of buying, our sister website can do this for you.


History and finance check


A used car history or vehicle provenance will show if a car has outstanding finance or has previously been stolen or written off by an insurance company.


Most reputable vehicle provenance companies get their data from various sources, including the DVLA, the Police National Computer and the Association of British Insurers.


V5C registration document


Insist on seeing the V5C vehicle registration document – this shows the registered keeper and not the legal owner.


Know what to look for when inspecting a vehicle


Once you start looking and inspecting vehicles, you need to know exactly where the problem areas are in order to make an informed decision. The first rule is never view cars at night or in bad weather, because rain or poor lighting can hide things like rust, dents and other defects.


Always ask about the service records of the car and ensure that the mileage is consistent with them.


Any cars that have been in a major accident or undergone big repairs should be avoided.


Always check the underside of the car and bonnet for signs of rust or marks indicating that the car may have been in an accident, you should also check for any leaks on the engine.


My Car Credit can help you find the perfect used car


My Car Credit provide customer’s access to our own online ‘Stock Search’ facility, ‘My Car Search


Customers can search online via our website for cars by post code, distance away, price, manufacturer, model, fuel and transmission type.


By using our stock search My Car Credit will help you find the safest place to buy a car online. Our stock feeds only consist of cars that are from our network of ‘Trusted Car Dealers’ and our approved official stock feed provider, This means that all dealers are regularly vetted for their status with the Financial Conduct Authority (FCA) for their financial stability and customer service standards.