So, you have decided that you absolutely cannot do without a car and need to get one as soon as possible. Little do you know that buying a car is not as simple as walking into a dealership and picking one out.
One of the most important decisions you will have to make when choosing a car is whether you will buy a brand-new car or a used one. There are many factors to consider when choosing between the two.
The following are some tips to help you decide:
Cost
First and foremost, the most important factor that will influence your choice of vehicle is your budget. The cost of the two types of vehicles is drastically different.
Used cars are obviously more affordable than brand-new cars. On the other hand, a used car might cost you more in maintenance than a new one over the car’s lifespan.
New cars have high duties imposed at the port which makes them very expensive. Used cars can be bought from a dealership or an individual where you don’t have to pay any taxes.
Durability
As far as durability is concerned, the advantage will go to the brand-new car. The reason is simply that a used car has already experienced some damage and is hence less durable than a new one.
The durability of a car will depend on other factors such as the manufacturer and how the car is handled. However, the lifespan of a brand-new vehicle is generally longer than that of a used one.
A car starts deteriorating from the moment it is driven off the lot. Therefore, a brand-new car has the least amount of depreciation hence its durability.
When you buy a car, used, or brand new, you have to consider the ease of buying and selling it. As it pertains to the ability to bu
Ability to Buy and Sell
Buy and sell, use cars have the advantage.
There are many places where you can buy both used and new cars, while the folks over at Private Auto notice that used cars have more activity on their site than new ones, which goes for other car dealer sites, as well.
You will also have to consider the ease of selling your car when you want another. Selling a car you bought as new is easier in this regard.
Availability of Spare Parts
Another important factor to consider when getting a car is the availability of spare parts. Your car is undoubtedly going to endure some damage and the ease of acquiring spare parts will matter significantly to the state of the car.
Used cars win the battle of the availability of spare parts. The motor industry is quite liberal and you can get spare parts for older vehicles even from the manufacturer.
On the other hand, you will have to spend a great deal of time and effort to find spare parts for a new car. These genuine spare parts last longer and improve the car but are also very expensive.
Financing
Very few people are able to walk into a dealership and pay cash for a vehicle. In most cases, you will have to obtain financing to buy a new car.
When it comes to getting financing to buy a car, new cars have the advantage. You are more likely to receive financing and have more financing options when buying a brand new car due to low risk.
However, it is incredibly difficult to gain financing for a used car because of the high risk involved. It is very difficult for you to get a line of credit in this regard even with a high credit score.
However, you can find great deals if you are willing to look for them.
Warranty
The warranty is very important regarding the maintenance of motor vehicles. Brand new cars have a warranty which gives them a significant advantage over used cars.
A warranty is a guarantee from the manufacturer to address the defects in the make of a vehicle for several years. Therefore, if the car experiences some damage in the early years, you can get it fixed for free.
Used cars have no warranty whatsoever which makes them a lot riskier than new cars. Many used cars are way past their warranty date meaning you have to pay for repairs out of your pocket.
As you can see there are pros and cons to owning a new car and a used one. There are many factors to consider including the cost, availability of spare parts, and warranty. The better choice in most cases is to buy a brand-new car. However, there are great deals to be found for used cars which can make them worth it.
