New or used? For some buyers the cost of a brand new car is out of reach whereas for others the risk of a used car is too much to take on.
So which is the best option for you?
Here are some things to consider when you are weighing up the pros and cons of new and used cars:
- The biggest advantage of a new car is that you know that there will be no damage from previous owners. This is particularly useful for drivers with little knowledge of cars that are unable to spot hidden problems when they buy.
- Another advantage of a new car is that you will most likely have no or very little maintenance costs for at least the first few years.
- If something does go wrong inside the warranty period of the new car then you will be covered for the cost of repair.
- You will also most likely get to choose your own features when buying a new car.
- On the flip side new cars do cost more than used ones. Even the difference of one owner or a few years can mean thousands off the price.
- New cars generally cost more to insure and more often than not will be more expensive to repair.
- The value of the car if you decide to sell won’t be much higher for a new car. As soon as you leave the lot the car becomes used and the value drops. So if you are planning on selling the car in the short term perhaps a used car is the best option.
- While used cars are cheaper this may not be an advantage if you have to pay a lot in maintenance and repairs.
- Before you buy a used car make sure you get the car inspected, and get details of the car’s mechanical and ownership history.
- Many people buy used cars these days because of the advantage of the price tag. Buying used can pay off but only if you ensure the car you are getting is in good condition.