When the time comes to replace your car, there’s often two things you need to balance. Finding a good deal on your new vehicle, while also ensuring you don’t miss out on the latest models and all the modern technology and features they come with. A good way to ensure you are saving money on a quality vehicle is to search for a nearly new car. Here’s our quick guide on what to look for in a nearly new car.

What exactly is a nearly new car?

A nearly new car is normally one that has under 100 miles and just one previous registered keeper – the dealer selling the vehicle. In many cases, these are ex-forecourt models that were not sold in time to match the number plate on their car. When the number plate changes twice a year, dealers will want to update their stock so any new car sold has the current number plate. That can mean high quality cars with low mileage are available at a discounted price as the dealer looks to sell them.

What are the big benefits of nearly new cars?

The fact that they have a very low mileage and only one previous owner means you are in essence getting a brand new car at a lower cost. Some of these cars can be less than a year old but a lot cheaper than a similar make and model being sold as new. Another big benefit of nearly new cars is that they are often still under the manufacturer’s warranty. Many big automakers now provide very generous warranties on their cars, so even if the car has been sitting in a car park doing nothing for a year, it will be protected by the car maker.

What about VAT?

As the car is still effectively new, then VAT will be charged on the car when it is sold. However, this is almost always included in the price set by the dealer and not charged separately to you, the customer.

Are there any downsides of a nearly new car?

The only potential downside of a nearly new car is that you are still paying a lot more money than you might for a used car that is the same make and model, but has a few thousand miles on the clock. While your nearly new car is going to be in as close to pristine condition as you can find, you might be willing to accept a little wear and tear on a used vehicle in exchange for a lower price.

Can you finance a nearly new car?

Nearly new cars are available on a car leasing or personal contract purchase deal. Because these deals work based on the car’s depreciation, having the nearly new car’s lower price as a starting point means you can get a great deal. Generally, the deals available are only offered to those with an excellent or good credit rating. Use the creditplus car finance calculator to see what sort of deal you could get.