Is it better to buy a new or used car?
Buying a car should never be a snap decision. If your budget is finite – like most people’s – you’re going to want a car that gives you good value for your money and is worth the price. The big question, in which case, is whether you opt for new or used. Everyone’s situation is different, so neither option is perfect for everybody. Instead, both new and used cars have their benefits that make them appealing and worth the price.
The Pros of New Cars
The pros of buying a new are pretty obvious for most buyers once they start looking into what’s available. To start, you get more power over the sort of car you get rather than choosing from what’s available. You can choose exterior and interior designs and certain installable features that might improve your driving experience. You can also take away some of the stress by giving your requirements to a sales person who will find the right car for you.
When you purchase a new car, you get more reliability. You get a full warranty, the latest safety features, and there’s no risky history to worry about. Some manufacturers also offer free scheduled maintenance and insurance rates for new cars can be slightly lower than they are for used thanks to the improved safety features of new cars.
With a new car you also have the benefit of getting the latest innovations and improvements in the industry, like higher fuel efficiency and all of the latest gizmos, gadgets and high tech features. There’s even the chance that the salesman will throw in a few other offers to convince you to buy, so you never know how much value you could get for your money until you look at your options.
The Pros of Used Cars
One of the most notable benefits of buying a new car that most people will point out to you is the price. Buying a used car can be a lot cheaper than buying a new one, which means that you can potentially get more for your money when you stop worrying about a bit of mileage. For example, English motoring group Glyn Hopkin have used Suzuki cars for sale for as little as £5,000. The price of used cars also helps with the matter of depreciation, which is a big worry for people looking to buy a car. As soon as you drive a brand new car off the lot its value goes down by roughly 20% and this can make reselling the car a big loss in profits. However, used cars are priced after they have already depreciated, which means that you won’t lose nearly as much money if you decide to resell it later on.
Another benefit of buying a used or slightly older car is that it has been thoroughly tested. With brand new cars it can take months and sometimes years for issues to be found and flaws in the design can have some serious effects on your wallet. However, with an older car that has been on the market for a while, you have access to more information about them and they have been thoroughly tested by manufacturers as well as by customer. This means that you are far less likely to run into any nasty surprises after you drive off the lot.