Car troubles happen to everyone, and when you suddenly face the fact that you need a new car there are two choices for you to make – used or brand new.
All the glossy adverts tell you to opt for that shiny new car, but your friends and family will definitely call you short-sighted if you choose this path. So what do you do? Here are the pros and cons.
Everyone knows that purchasing a new car from dealer is always a pleasant experience – starting from that new car smell, the box fresh interior, the envy in your friends’ eyes when they see you at the wheel of your brand spanking new car – all this brings you great satisfaction, especially being the first owner!
The first and main point is that the car is new, you don’t have to worry about how the previous owner treated it, and if something goes wrong it’s covered under the manufacturer’s warranty.
A number of car dealers provide their customers with roadside assistance, which will save you some cash! Some even throw in a year’s free insurance!
New cars are often better in terms of fuel consumption and safety features, like additional airbags and new-fangled technology.
Most manufacturers even offer finance with low interest rates, or even no rates at all. This can make purchasing a new car less expensive than a used one.
Purchasing a new car isn’t cheap, depreciation is far higher than a used car. Basically, when you buy your car from a dealer you pay the retail price, but if you come back 10 minutes later and try to sell it back to the dealer, he would only pay you the wholesale price, which is much, much cheaper – the average loss is about £2000-3000.
On the moral side, buying that new car you foster the culture of consumerism where nothing is practical and frugal – you simply purchase your new shiny toy instead of opting for a simple transportation tool.
If you take into account the speed with which newer and better models appear on the market, your costly purchase will soon be obsolete.
Finally, the state of it being ‘new’ is short lived, soon it will get scratched, stained and dented. The pleasure of having a new car will disappear, but those monthly repayments wont.
Although a pre-owned vehicle won’t provide you with the thrill of obtaining a brand new car, the price will surely make you happier! Especially if you can find a single owner, low mileage example.
If you opt for a used car, you will be able to get the best car for your money. Taking into consideration the fact that most people trade their car in every few years, you won’t even notice the difference between new and used.
Modern cars can easily go 100.000 miles without any issues.
Most dealers can even offer a used car warranty on vehicles up to 10 years or older.
If you are familiar with a spanner and tinkering under the bonnet, the cost of a used car can be much lower, as long as you can fix the problem that is!
Despite all the warranty promises your used car may have issues that you don’t notice until it’s too late and something worth more than the car goes bang…
You may never know how the car was treated by the previous owner, and it’s likely that you will have to get the car serviced sooner, rather than later after the purchase due to higher mileage.
Some traders simply hide problems with cars, and you may be the unlucky sod that takes on a money pit!
There are a number of factors to take into consideration when making a decision between new or used. The most important are your financing options and budget. Safety should also be high on that list, in fact make a list of all your requirements and stick to it regardless.
For most people purchasing a car is just as important as purchasing a house, so make sure you take as much time and effort in finding your perfect car.
There are many sites you can use to find new or used cars, but it’s worth checking out a relative newcomer to the market Localmart.