Vehicles have always been an essential part of our lives, and since their advent, there is no doubt that cars have become an integral part of our lives. Today, we see how different countries from all over the world have played an essential role in developing vehicles and how vehicles have done the same for them. Some countries, such as Germany, have such a strong relationship with cars that they are known for manufacturing some of the most impressive cars in the world.
Car in the UK
Cars hold a unique value in every culture, and we can observe the differences in the ways different nationalities think and feel about cars and what place a car holds in their collective consciousness. However, today one country that we will talk about is the UK. The UK is a place where it is said that car appreciation is ingrained in the culture.
After looking at different reports, it would be safe to say that the British have quite a relationship with their cars, and their love affair with cars is stronger than ever. According to a new report, more than 80 percent of the motorists in the UK admitted that they always had a love for a drive, and more than 30 percent said that their love has only gotten stronger with age.
Buying Cars as a Beginner in the UK
However, on the flip side, it also emerged that although the British have such a strong love for cars, they still aren’t able to drive their favorite as much as they would love to. In most countries, buying a car is almost like walking into a retail shop and buying your groceries; however, that is not the case in the UK. The UK is known as one of the places where buying a car is not as peachy, and if you are a beginner, it is almost impossible.
One report also showed that more than half of the motorists find car buying extremely intimidating, with one in three wishing that someone else could take care of the entire process. And this includes both the beginner and even the experienced buyers.
One of the main reasons it is so tough for a beginner to buy a car in the UK is the hostile environment in car dealerships. Although an aggressive sales environment is not the whole story, there are numerous other reasons why a beginner in the UK despises the idea of buying a new vehicle. Let us tell you why buying a car in the UK is not beginner-friendly.
The Dealership Laws and Their Monopoly
Today, with the help of the internet, we have almost everything at our fingertips. It has become highly convenient for us to compare different things that we want to buy and shop for them; however, that is not the case with cars in most places in the UK. In many places, there are strict dealership franchise laws that go back decades; back then, the car companies needed car dealers to spread out in different geographic locations of the country where they could sell and service the customers.
Even car websites that seem to let you buy a new car have to abide by these laws; all they do is sell the cars on their websites through different dealerships. Although experienced buyers know their workaround with these laws, it could get quite difficult for you if you are a beginner.
You must be thinking about why these laws haven’t changed; it is almost impossible to change them as car dealers love this system and have banded together; they also tend to have substantial political clout.
Being a beginner means that you will buy your first car, and usually, people who have just thought about buying a car have either begun building their credit or have no credit history. When a beginner in the UK searches for a starter car, they usually run into trouble when trying to secure an auto loan.
Most loans with reasonable interest rates often require good credit history, but since beginners do not have a solid credit history, they get loans with higher interest rates. These interest rates are extremely tough to pay off for most people; people who cannot pay off these expensive payments put their cars at risk and further damage their vulnerable credit score.
Car Dealers and their Commissions and Targets
As we said earlier, car dealerships are one of the most hostile and aggressive environments you would find in the UK, and let us tell you why. When a person enters a dealership, they have to face the dealership personnel, these people might seem friendly, but after a while, most people get annoyed by all the questions they ask and how they behave. This behavior has everything to do with their commissions and targets.
People working at car dealerships, such as sales executives, business managers, and sales managers, do not get mainly paid. These people get a small base salary, and most of their earnings come from the commissions on the cars they sell. So, everything they say or do revolves around their commissions and targets, and for a person who has gotten into car buying, this gets too much.
These salespeople make it difficult for a beginner to choose, but they also try to upsell things such as car insurance and other items related to cars; all these things lead to frustration for a beginner.
Long Repayment Terms
This one is also related to beginners with poor credit or a little history. Since most beginners know nothing about car loans and repayments, they are forced to opt for longer repayment terms. This repayment may not be much initially, but it makes up a significant cost factor when you take a good look. The overall cost naturally goes up when you choose to repay over a more extended period.
When you buy a car in the UK, many potential buyers who are also beginners are under the impression that what they see as the sale price is all that there is to the purchase. However, that is not the case. Once the vehicle is transferred to the new owner’s name, many hidden costs are waiting, ready to be sprung upon the buyer.
First off is the registration. Once that is dealt with, there are surface costs to take care of. Car owners also need to keep regular maintenance and upkeep of the car going on for it to function at its best. All these aspects amount to added costs that many beginners do not anticipate.
Resale and Depreciation
Another thing that many potential buyers fail to take into consideration is that the car, once bought, is not the asset they think it will be. Once they buy a car UK and start driving it, the car’s depreciation will begin no matter how careful they are. This depreciation consequently lowers the value of the car. As a result, if the car owner is under the impression that they will get precisely the same amount for the car if they choose to sell it, they are wrong.
The preconceived notion is wrong because any other buyer that comes into the scenario will take in the miles it has been driven, the period it has been in use, and the depreciation that would have taken place as a consequence of the two. This is why it is important to note that the car’s sticker price isn’t what owners will be able to put as the resale price because of depreciation.
All in all, right from the attainment of the vehicle and the hassles of payments terms and interest rates to dealing with dealership monopolies and all the expenses that come after the purchase, buying a car is no walk in the park. It requires a high level of attention to detail and research and involves careful usage so that the vehicle can be with the owner for a long time.