When shopping for used cars, whether you choose car broking or other services, you’ll often be told to go for an economic car. However, many people won’t have a proper understanding of what this is. An economic car is defined as one that is cheap to both buy and keep. Simply put, it needs to be a reliable model that possesses decent fuel economy. Also, the car must be difficult to argue against financially. Making your money go further is the essence of economical after all.
It may sound as simple as that. However, there are many different pieces that make up the puzzle of an economic vehicle. There is the legal requirements, availability of parts, reputation, reliability, and the fuel. You will have to deal with how much things cost initially too. Each of these areas impacts your wallet differently. As such, you need a base knowledge of them all when buying the most economical car you can.
Fuel economy
The first area most people look at is the fuel economy. It tends to be the key factor with economical cars as prices of fuels are always going up. You’ll be making the purchase more than you’d prefer too. With fuel economy, it comes down to the type of fuel needed and how far it gets you. Diesel is cheaper for longer drives, but results in you paying more tax. How far your engine gets you on a gallon of fuel is vital too; the higher the MPG, the better.
Parts and repairs
With some of the market’s most economical cars, remember their parts and repairs costs can set you back. Keep in mind especially that when dealing with used vehicles, age can result in things far more likely going wrong. As technology advances and more specialised eco-friendly designs become a part of the used car market, things can get more difficult. It becomes harder to find parts and they can be more expensive. Do your research into the car’s reputation and part availability. Car broking can be helpful because brokers can have an impressive amount of knowledge about different makes and models.
Legal costs
Even the world’s most economical car has legal costs that need factoring into the picture. There are the obvious factors like MOTs and road tax. Depending on how you finance your motor, there can also be finance factors. Think of details like interest if you are externally financing the car and warranty needs like mandatory servicing. Consider the value of any service against the cost and determine what will work best for you.
Purchase price
Finally, we have the cost of the actual car itself. You need to ensure your favoured model is within your price range. To get the most economical vehicle you can, it might be worth it to spend more on your purchase. Do this to save money on things like cheaper parts and fuel economy, or more reliability. This is down to you, but keep it in mind.
Our car broking learning tools are unique
At Auto Car Brokers, we supply learning modules that aren’t available anywhere else. You are able to buy them individually or all at once, whatever is best for you. With them, you will have all the information you could need to start your own business in the industry.
So, please let us know if there is anything we can do to help you with car broking. We’re happy to share our expertise and help people to anticipate and overcome any concerns they may have.
