When choosing to buy a car, the main starting point is whether you buy a brand new car or one that has been used before. There are plenty of reasons to go for either option, but which one is best for you? Here are some of the best pointers on what to look out for when choosing what sort of car you purchase next.
Advantages Of Buying A New Car
A brand new car often comes with a warranty so you are covered for repairs and replacements under that guarantee. Plus, since the car is new and unused, it should need fewer repairs anyway so you can spend more time in the driver’s seat and less time at the garage searching for replacement parts.
When choosing a new car, you also have the freedom to choose from the latest features. Sometimes these are smaller perks like an inbuilt GPS, rear view cameras for reversing or USB chargers built into the dashboard. However, there are bigger technologies out there like economy engines or hybrid engines that will save you overall in fuel costs and lower your carbon footprint. Here are some tips on how to buy a new car.
Advantages Of Buying A Used Car
The biggest advantage of choosing a used car to purchase is that it has a lower price than a new car, and a much lower depreciation value, so much so that you might even sell it again for a similar amount. Overall, the amount that you ‘lose’ for a used car might be lower.
When you are choosing a car that has been around for a few years, there is more information about how that model performs and functions so you can make a more informed choice about the likely problems you might encounter when driving it. With this research available, you can make a more informed decision and avoid problem models. Here are some other smart reasons why you should buy a used car.
One of the bigger long term expenses that people sometimes don’t think about before purchasing a car is the insurance rates. Used cars have much lower insurance rates than a new car, so if you are a new driver or looking to lower your monthly insurance premiums, then a used car might be the best option. You can find a car insurance quote to check how the age of your car reduces your monthly expenses.
Disadvantages Of Buying A New Car
A new car has its biggest depreciation in resale value in the first two years. This means that the second you drive out of the car garage, the ‘value’ of the car decreases. Additionally, you don’t know if there are any major issues with any of the parts since they have not been tried and tested as used cars have. Fortunately, this should be covered under the warranty.
Disadvantages Of Buying A Used Car
Generally, used cars will need more repairs over their lifetime and are slightly less reliable than a new model. This can be reduced by choosing a model that has a lower overall mileage – something under 100,000 kilometers is a sensible ballpark measure. Plus, you have less choice over the color, model, and features of a used car and have to select from what is available.
A car is a big purchase that shouldn’t be rushed, so shop around and find out what the general feel of the market is, and how much you can expect to pay to suit your needs. You can usually find the ‘invoice price’ or the amount that the dealer paid for the vehicle with a bit of searching online to figure out if you are getting a good deal.
Ask on friends and family for their recent experiences or check out some forums or social media groups. If you know exactly what you are looking for, you might even be able to find something on your community bulletin board or buy straight from a friend and cut out the dealership charges. Whatever option you go for, take your time and do not feel compelled to rush into the first deal you are offered.