When shopping for a new vehicle, much more than just the make and model you desire has to be taken into consideration. There’s fuel efficiency, safety ratings, dependability, the future cost of repairs, practicality, availability, and many more factors that bear scrutiny.
Owning a brand new car is always exciting. But financially speaking, it makes sense to buy a used car. As soon as you drive a new car off the lot, it loses a great portion of its value. This is because your car is no longer new.
It’s estimated that new cars lose about 40% of their value within three years, then depreciation starts to slow down. Why not you buy a brand new car and allow someone else to take that depreciation hit?
We all know that the previous owners would have absorbed the steepest part of the depreciation cycle. At that particular point the cost of owning and operating the car will be dramatically reduced and the money you save on depreciation will surely go a long way.
However with everything else there are few disadvantages of buying a used car. With the used there are always chances for costly unwanted repairs. One may very soon after buying a used car have to do major car maintenance: including replacing tires, battery, brakes, mufflers and sometimes even the transmission.
However, read onto learn the key advantages and disadvantages that will help you to make an informed decision and discover which option is right for you:
Advantages of a New Car
Here are the following benefits:
- The new car attracts the person with its reliability and transparency of the transaction.
- Costs are predictable.
- You can choose the colour, trim, additional comfort options, etc. with the desired model.
- First maintenance after 3 years. Then after two, and then annually.
- Easy to issue the credit. Banks always support loans for new cars.
Disadvantages of the New Car
The disadvantages of such a purchase are much less than the advantages. However, for many buyers, they are important:
- Price of the new car is more expensive than second-hand.
- High maintenance costs.
- No changes. One of the conditions of guarantees for a new car is that it cannot be tuned.
Also, the lack of a new car, many people call the fact that it should be carefully treated.
Advantages of Buy Used car
A used car attracts only a good price. After all, everyone buys a car. So, here are the other advantages of buying a used car.
- Expensive models are available at an affordable price.
- No need to pay extra for equipment. If one of them is missing, for example, a radio tape recorder, then this is an excellent reason to bargain.
- After buying a car, it is necessary to drive the first 2-3 thousand kilometres neatly, without loading the engine and limiting the speed.
After buying a used car, save some money in case of a sudden breakdown. No one is insured against this risk.
Disadvantages of Used Cars
Disadvantages of used cars can be significant if you do not pay attention to the purchase:
- It is better to check the used car before buying it. Trouble can be different like cars in the loan, in the pledge, with restrictions or, worse, in the hijacking. But any of them can take away your nerves, money and time.
- Machines under the age of 3-5 years have high resources, but since the age of 6, breakdowns begin to haunt the owner at every turn.
- The cost of repairs. The more expensive the car initially cost, the higher the price of its repair.
With all the advantages of a car can cost a lot of money. But we have not yet said that the fuel consumption of a worn-out engine is 10% more, and the waste of oil is higher.
Which One is Better?
A new car will last a long time if you are careful and attentive to it. But in the first few years, it will drop significantly in price, which means it will cost you a considerable amount. So, when to buy a new car:
- You have enough money for car maintenance;
- You need reliable cars and predictable costs for it;
- The model that is available to you in a new form suits you;
- You want to use the car for more than 3 years.
So, a new car is for you, and there is no point in doubting. If you are still not sure which car to choose, then let’s think about when to buy a used car:
- Prefer a prestigious car reliable;
- Want to buy a car that is not available to you in a new form;
- You know all the nuances of buying a used car;
- Do not need a warranty and plan to carry out the service.
Of course, for training, it is better to buy a used car to gain driving skills. If an accident happens, it will not be as pitiful as a new one. If you regularly change cars, then you need a safe, prestigious and comfortable car, but finance for a new car is not enough, a used car under 5 years old is a great option.
