New Car Vs. Old Car: Which to Choose?
Weigh the pros and cons of buying a new or a used car.
Fortunately, you have options when buying a car. If you are tight on a budget, you can opt to buy a used car. You may also have good reason to choose to purchase a brand-new unit. If deciding between buying a new or used car is becoming a dilemma, check out the pros and cons of each option.
“You have options when buying a car.”
Buying a vehicle, whether new or old, is a major purchase. There are huge costs continuously incurred both before and after the transaction. This is why many consumers consider a car as both an asset and a liability.
Buying new car
Without a doubt, a new car always possesses the curb appeal that can make its owner proud. In the American consumer culture, just like elsewhere, owning and driving a new car is a status symbol.
New cars are generally covered by warranty. You can rest assured that any damage that may incur in the first few years of use could be fixed without costing even a dime. On top of that, new vehicles often come with free roadside assistance for some time.
“New cars are generally covered by warranty.”
If you buy a new car, you can also have greater chances of taking a vehicle that has the highest standards of fuel efficiency and safety. You could also be surprised that in reality, most financing programs available in the market offer lower interest rates if you buy a new car instead of a used one.
A new car is one of the largest upfront costs an individual consumer can make. New cars also depreciate in value much faster than old vehicles. In fact, a brand-new car instantly loses a big portion of its value the very second you drive it from the dealership. A new car will not remain ‘new’ for a long time.
“A new car will not remain ‘new’ for a long time.”
New cars also require higher insurance costs because replacement values are comparatively greater than their used counterparts. You may also be forced to convince yourself to stick with the car for a long time even after you have completed paying for the car loan.
Buying a used car
Pre-owned vehicles may definitely lack the instant appeal inherent in new cars. But such cars are certainly difficult to beat in terms of practicality. If you are more of a bargain hunter, a late-model used car with low mileage could be a dream come true.
The top advantage of buying an old car is the cost savings you can generate from the purchase. You can possibly buy your dream car at half the price of a new car. If you worry about warranty, most pre-owned dealers still offer such cars with warranties (you may assume the remaining balance on the factory warranty or you could extend the warranty at a reasonable cost).
“You can possibly buy your dream car at half the price of a new car.”
Of course, buying a used car leaves you subject to the treatment of the previous owner. The condition and performance of your car will be entirely based off the responsibility of a stranger. Nobody wants to buy someone else’s problem. Used cars require maintenance processes sooner and you won’t have a choice but to deal with them accordingly.
“Nobody wants to buy someone else’s problem.”
It could also be more challenging to find an old car that comes with the features and specifications you prefer. You may have to spend more time and effort shopping around if you aim to get the best deals.
So which type of car do you think is best for you? While you’re still considering the pros and cons, you may start checking out available new and used cars for sale at Carzing.com.