Home > Discover > Buying a new car vs a used car
  • Pay
  • Claim
  • Manage
  • My Tower
  • About
  • Contact
  • Car
  • Contents
  • House
  • All insurance
  • GoCarma
  • Pay
  • Claim
  • Manage
  • My Tower
  • About
  • Contact
  • Login
  • Register
  • Car
  • Contents
  • House
  • All Insurance
  • GoCarma
Login
Register

Buying a new car vs a used car

When you are buying a car one of the most important decisions you will make is whether to buy new or used.

Tower Insurance

Published in:

Car

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:

  1. 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.
  2. 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.
  3. If something does go wrong inside the warranty period of the new car then you will be covered for the cost of repair.
  4. You will also most likely get to choose your own features when buying a new car.
  5. 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.
  6. New cars generally cost more to insure and more often than not will be more expensive to repair.
  7. 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.
  8. While used cars are cheaper this may not be an advantage if you have to pay a lot in maintenance and repairs.
  9. Before you buy a used car make sure you get the car inspected, and get details of the car’s mechanical and ownership history.
  10. 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.

 

Looking for car
insurance?

Save $50 when you buy online
with Tower. Use promo code
SAVE50. Ts&Cs apply.
Car insurance

Get a quote now
Tower Insurance

Insure

  • Car Insurance
  • Contents Insurance
  • Renters’ insurance
  • House Insurance
  • Landlord insurance
  • Business insurance
  • Boat insurance
  • Travel Insurance
  • Motorbike insurance
  • Lifestyle block and farm
  • Caravan or trailer insurance
  • Motorhome insurance
  • Multi-policy discount

Manage

  • My Tower
  • Make a claim
  • Make a payment
  • Change your contact details
  • Cancel your policy
  • Register your Airpoints™ number

About Us

  • About Tower Insurance
  • Contact us
  • Complaints and compliments
  • Our offices
  • Careers
  • News
  • Investor Centre
  • Financial strength rating
  • Sponsorships
  • Blog
shielded

©2021 Tower Limited and its related companies. All rights reserved.

  • Terms & conditions
  • Privacy and security
  • Fair Insurance Code
  • Publicly Available Disclosure