Most of us are familiar with the arguments for and against buying second-hand. The former includes a lower outright purchase price, more for your money, and so on; the latter increased wear and tear, and higher maintenance costs.
Despite the downsides, far more people choose to buy used than new, and taxi drivers are no exception. Although you have the added bonus of finding something that’s suitable for business as well as personal use, second-hand cars will often fit the bill, and take far less of a dent out of your budget too.
Yet buying second-hand does come with its risks, so here are three top tips to ensure that you get the most for your money…
All second-hand cars are going to have been used, but not all of them are old. Vehicles have a nasty habit of depreciating in value the second that they’re driven out of a showroom, and this means that if you’re prepared to buy something that’s been used by someone else for a year or two, you’re going to get a lot more bang for your buck. However, you don’t want something that would look at home in a museum. Due to your profession, your car will have to withstand a lot of driving, so considering that the average lifespan of a modern vehicle is eight years, try to limit yourself to those that have been on the road for no more than five, to ensure that you still have plenty of life left in your purchase.
Cars of the same age can vary widely in terms of their overall condition, and that’s why it’s important to also take mileage into account. Most modern cars are expected to be able to cover around 150,000 miles during their working life. Although well-maintained models could be in action for around double this distance (300,000 miles), you need to make sure that there’s a lot of driving left in your car, so try to look for something with 75,000 miles or less on the clock.
#3: Make and Model
As a taxi driver, there are also a few specialist criteria that you’ll need to meet. Because you’ll be reliant on your vehicle to help you earn an income, the make and model you choose are important. You need something renowned for its reliability, versatility, and smooth drive, plus a spacious interior to accommodate your passengers, a roomy boot, and something that’s cost-efficient to keep and run. Although there are plenty of vehicles which tick these boxes, you may find it easiest to go to a specialist retailer like Cab Direct, as opposed to buying privately and relying solely on your intuition to make the right choice.
Follow these three top tips today, and you should find a car that’s perfect for your profession.
© Tom Ollerenshaw 2016