Buying New Vs. Used Car: Which Is Better?
Before you spring up the look of your would-be beauty on wheels, you must consider these points. Used and new cars have their pros and cons of their own. Read further to understand which automobile could be suitable for you.
New versus used car – let the battle begin!
Buying a New Car
- Peace of mind
Manufacturer warranties always come along with new vehicles. There are no hidden secrets about the vehicle has met with an incident in the past.
- Wide choices and unlimited options
The options are abundant regarding the body color, make, model, accessories, and fabrics you’d like in your new vehicle. Most car nowadays in the auto industry comes with total customization options, mirroring the real you.
You surely enjoy the new car feel. However, that comes at a price. There is more cash going out of your wallet for accessories, taxes, registration, and insurance.
- Depreciation depression
Drive a new vehicle out of the showroom and expect a depreciation of 30%. In the first year, your car tends to lose 40% of its value. The fact is that the loss of value reduces, as the car gets older.
Buying Used Car
- No added expenses
You pay for a used vehicle on an as-is-where-is basis. You won’t be spending any added cash on accessories such as music system, fog lamps, and seat covers. Mostly, the first owner has already made the needed additions.
- Cheaper to have
The value that a new car had to lose has been lost while you bought it. Thus, there are fewer likelihoods of losing a huge amount of money while re-selling it. Depreciation will be less in the next several years too. That has a good effect on the cost of ownership.
- Affordable to purchase
Getting an almost new car or a well-maintained one for less could be huge car deals. What’s more, getting a pre-owned car does not come with taxation and registration expenses attached.
- Limited option
You might not get the car the way you like it to be. You might receive in various color, or it might not have the feature you anticipated the vehicle to have. Customization is very limited if you opt for a used car.
- Potential expenses on the vehicle
The car is not new, and you might need to shell out some cash on getting the vehicle repaired and serviced. Do take a reliable mechanic or someone who understands the car inside and out. It’s recommended that you pick a car which has been treated affectionately over one that has been utilized roughly.
- Potential risk
You could end up being cheated by the words of a stranger you have met once or twice. The records containing the accident history of the car could have tampered. You don’t know how the car had been used and on what roads it ran. You’re investing a massive amount of your savings on that vehicle. Thus, get it checked and certified first by a reliable authority before buying.
Both new and used car has its own pros and cons. It will now be up to you, which one you will choose. We wish you good luck with your car shopping!