In today’s market, where the cost of living continues to rise, making savvy purchasing decisions is more important than ever. When it comes to leisure assets like cars, caravans, and jet-skis, the question often arises: Should you buy new or opt for second-hand? While the allure of brand-new might be tempting, there are several compelling reasons why second-hand leisure assets are still a great investment.
1. Cost-Effectiveness
One of the most significant advantages of buying second-hand is the immediate cost savings. New cars, caravans, and jet-skis often come with hefty price tags, not to mention the additional costs like taxes, registration, and insurance. By choosing second-hand, you can enjoy substantial savings, freeing up your budget for other experiences, such as travel or upgrades.
2. Depreciation Advantage
Depreciation is a critical factor when considering the value of your leisure asset. New items lose value rapidly, but second-hand items have already taken this hit. This means when you buy second-hand, your asset’s value will remain more consistent, allowing you to potentially resell it later at a minimal loss. For assets like caravans and jet-skis, this can be particularly advantageous if you decide to upgrade or switch to a different model in the future.
Many second-hand leisure assets have already undergone the initial depreciation. For example, a new car can lose up to 20-30% of its value within the first year. By buying used, you avoid this steep depreciation, making the value of your car, caravan, boat or other leisure asset more stable over time.
3. Wide Range of Options
The second-hand market is vast and diverse, offering a wider selection of models and types than you might find new. Whether you’re looking for a ready to tour 4wd, a retro-style caravan, or a high-performance jet-ski, the second-hand market often has exactly what you’re looking for, and often they are barely used! Additionally, older models may come with features that have been phased out in newer versions, giving you more flexibility in finding an asset that perfectly suits your needs.
4. Proven Durability
Buying second-hand doesn’t mean sacrificing quality. Many leisure assets, especially those from reputable brands, are built to last. A well-maintained used car, caravan, or jet-ski can provide many years of enjoyment and reliability. Plus, with the availability of service histories and mechanical inspections, you can make an informed purchase knowing the asset’s condition and history.
5. Eco-Friendly Choice
Opting for second-hand is also a sustainable choice. By reusing an asset, you’re reducing the demand for new manufacturing, which in turn lowers the environmental impact. This is especially true for vehicles like cars and jet-skis, where the production process involves significant resource use. Buying second-hand helps to minimise waste and promotes a more circular economy.
6. Easy Access to Financing
At Set Up Finance, we understand that whether you’re buying new or second-hand, securing the right financing is key to making your purchase as smooth as possible. We offer tailored financing solutions that cater to both new and used leisure assets. Whether you’re eyeing a pre-owned car, a gently-used caravan, or a well-loved jet-ski, we can help you finance your purchase with competitive rates and flexible terms, just like we would for a new asset.
Financing a second-hand asset can be particularly advantageous, as the lower purchase price often means smaller loan amounts and potentially quicker repayment periods. Plus, with our expertise in financing leisure assets, you can rest assured that you’ll get a deal that works for your budget and lifestyle.
Buying second-hand leisure assets like cars, caravans, boats and jet-skis is not just a smart financial decision, but also a sustainable and practical one. With the right approach, you can find high-quality, reliable assets that bring joy and adventure into your life without breaking the bank. And with Set Up Finance by your side, getting the right financing has never been easier.
Ready to explore your options? Contact Set Up Finance today and let us help you turn your leisure dreams into reality.
