Car buyers may benefit from seeking older models

A rising number of people around the UK are switching on to the benefits associated with guarantor loans. These bad credit loans are ideal for those who struggle to access credit from banks and other such lenders because of a poor credit rating and they can be used for a variety of purposes.

Many of those seeking such financing are keen to invest in cars. This mode of transport can be crucial for many individuals, helping them to get to work, travel to the shops, transport loved ones and so on.

According to research conducted by Warranty Direct, those seeking to make use of guarantor loans for the purposes of buying vehicles may benefit from seeking out older models. It suggested that dated versions of cars like the ¬Vauxhall Zafira, Ford Fiesta, BMW 3 Series and Audi A4 do not show their age, the Daily Mirror reports.

It found that the average repair bill for a Fiesta built between 2002 and 2008 was almost double that of a 1995-2002 model. Meanwhile, a third of 2005-2009 Audi A4s were said to have had engine problems, compared with one in ten of the 2000-2005 versions.
Also, the firm found that newer Zafiras are twice as likely as older ones to get an electrical fault.

In addition, more recent BMW 3 Series models were said to be around three times more likely to develop braking system faults than earlier models.

By doing their homework before parting with the cash they access thanks to their bad credit loans, consumers can increase the likelihood that they will be able to purchase a reliable car with considerable longevity, which is great news for their overall finances.

Responding to the findings, Warranty Direct said: “Buying new may be the most desirable option when it comes to purchasing a car but it isn’t always the most cost-effective route.

“Our analysis shows new doesn’t necessarily mean more reliable – not to mention the steeper repair costs.”