Many people find the concept of upgrading to a brand new car exciting. Maybe it's the shiny bodywork. Maybe it’s the new car smell. However, if you're put off by the price of a new car, you might want to consider a nearly new car instead. Here's why.  

What is a nearly new car?

This term usually refers to a vehicle that has been on the road for less than two years. Whilst technically speaking the car has been used, you will be the first owner to spend serious time behind the wheel. Often these vehicles have been used as demonstration vehicles, short term rental or courtesy cars. 

Should I be concerned about its previous use?

In a word, no! As with buying any used car, you should do your due diligence and research but you shouldn’t be put off by previous use. A reputable dealer will prepare the car to a high standard, often to a ‘near new’ condition. What’s more, the car has probably been better looked after and maintained than you’d get from a ‘man on the street’! Any reputable dealer should disclose the car’s previous usage as a rental or hire car. 

What are the benefits of a nearly new car?

Competitive price

Unlike a brand new car of the same model, they are much cheaper as they have already experienced a fair percentage of depreciation. Cars depreciate most rapidly in their first year of being on the road. Buying a car that’s got a bit of mileage under its belt is far more wallet-friendly.

Lower mileage

They have usually clocked up low amounts of mileage (usually less than ten thousand miles) so you will be the first person to make extensive use of the vehicle. Cars with high amounts of mileage are far more prone to issues – both small and more extensive.

Original warranty

More often than not, they’ll still be under their original warranty. This safeguards you from any issues with the car after you’ve bought it, offering peace of mind for many. Normally, the manufacturer will take off the amount of time it has been used for and offer you the remainder of the warranty.

Better investment

As the most rapid part of the depreciation process is over, they are better financial assets . This effectively means that you haven’t ‘lost’ the difference between the cost of a brand-new car and what it is worth after this initial depreciation. Most cars lose around 60% of their value in the first three years.

Car finance options

You can get good car finance options. The reason for this is that the vehicle is practically the same as a brand-new model and therefore presents less risk to the lender.

Nearly new cars are well worth some serious consideration if you’re looking for your next vehicle (or perhaps your first) – they present many of the benefits of a brand new car without the large price tag. If you’re ready to get into your next car, we would love to help you find a car finance deal that works for you.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!