- Do your homework before signing
- Take your time or it could cost you
- Check our list of buyers’ top 10
LONDON, England – Research has shown that 21% of car-buyers in Britain paid more for a vehicle than its true value and that the easiest “marks” were aged 18-24.
The research*, carried out by automotive expert HPI, found 17% even admitted paying over the odds for their first car because they were eager to get on the road and 74% of buyers confirmed they were unaware of the key things to look for when buying a used vehicle.
That left them exposed to buying a rebuilt wreck or one whose odometer had been turned back.
UK’S BEST YOUNG-DRIVER DEALS
Buyers aged 25-34 admitted being most likely to succumb through time pressure to buying without a proper valuation in case they missed out on what they believed was a bargain.
HPI’s research also identified the top 10 best cars that would not only hold their valuation but were the least expensive to – making them ideal for new drivers – and it was all calculated on price, insurance, fuel consumption, tax and emissions. The were (not all of them available in South Africa):
1 Suzuki Celerio hatchback
2 Dacia Sandero diesel hatchback
3 Peugeot 108 hatchback
4 Dacia Logan MCV diesel estate
5 Toyota Aygo Hatchback
6 Citroen C1 hatchback
7 Nissan Micra Special Edition hatchback
8 Suzuki Swift hatchback
9 Nissan Note Special Edition hatchback
10 Seat Ibiza Sport Coupe
The research also found that 18% of buyers said they would carry out a valuation when buying privately but not when going through a dealer, most of which would automatically provide a valuation and history check as part of the buying/selling process.
…AND THE BEST OF THE TOP 10
Philip Nothard, retail specialist at HPI, said: “The Suzuki Celerio came out top in our ‘best buy’ survey, ahead of the Dacia Sandero and Peugeot 108.
“The key thing to remember is to do your homework. If buying privately find out what you should be paying and find out how many owners it has had, whether there is a mileage discrepancy in its service history or going on its age, if its ever been stolen, involved in an accident – or even written off.
“It really does pay to be thorough.”
HPI has a vehicle valuation tool (www.hpivaluations.com).
*Independent research carried out among a nationally representative sample of 2000 UK adults in November 2016