Buying a car is a huge decision, and one that shouldn’t be taken lightly. When you’re in the market for a vehicle, the age-old question will arise – new or used? Both of the options have merit, and each will be better suited to different types of individuals.
It’s tough to know which is the right choice to make. Your family and friends will all have their own opinions on the matter, but it’s important to figure things out and make the right decision for yourself.
Whether you opt for new or used, make sure you visit a trusted seller such as a Waxahachie car dealership, or a reputable dealership in your area, rather than a private seller.
Here are a few things to think about when trying to decide between the two options.
How to Prepare
Being well-prepared is important when shopping for a car. There are a few things you need to do before you start shopping in the first place.
First of all, you’ll need to get very clear on the budget you’re working with. Remember to account for monthly repayments, interest, annual maintenance, car insurance, fuel and all the other minor costs associated with car ownership. It’s important that you’re 100% certain of what you can realistically afford before making any commitments.
Another important way to prepare for car shopping is to do thorough research on what you want and need out of a vehicle and what’s available on the market within your budget.
Having a clear idea of what you’re looking for will make it easier for yourself and the salespeople you’ll be working with When you’ve narrowed things down, you can take a look at the pros and cons of each option.
Pros of Used Cars
Buying a used car is a far more affordable option most of the time. Opting for something in the used department is a great way to walk away with a bigger and better car than what your budget would have allowed with a new vehicle.
In this regard, you’ll either be able to use your entire budget for a bigger and perhaps more high-spec vehicle, or purchase a smaller, cheaper car and save money in the long run.
Cons of Used Cars
While you’ll be saving money and potentially become the owner of something big, bold and beautiful, you’ll have to remember that used cars have a whole lot of extra mileage on them.
A used car will be older, might have some damage or internal issues you’re not aware of, and will definitely not last as many years as a new car would. Your car might not be under warranty or service plan anymore which could cost you more down the line.
If you’re purchasing used, it’s extra important to go through a trustworthy seller.
Pros of New Cars
The opposite, of course, is true when buying a new vehicle. A new car will usually offer you the luxury of a service and maintenance plan, a warranty and the peace of mind that your new wheels will be on the road for many years to come.
New vehicles are more likely to have the newest technology and better safety features too. You’ll also be able to be a little pickier about what colour you want, and which spec you’d prefer to have in your vehicle. If you have it in your budget to buy a new car, these could be great benefits.
Cons of New Cars
Of course, the major downside of buying a brand new vehicle is how expensive it can be. Higher specs, new tech, warranties and service plans all come at a rather steep price.
You’ll also need to consider the interest you’ll be paying on a loan for a car. There are many financial implications to keep in mind, but this is relevant whether you’re buying new or used.
Overall, there are plenty of advantages and disadvantages to both of the two options we’ve discussed.
You’ll need to take into account your own budget and your needs. If you’re looking for a car to last you many years, opting for a brand new vehicle might be the more financially wise decision. However, if your budget is extremely tight, you might opt for a cheaper, used car that you can resell in the near future when you’re in a better financial position to buy another car.
Being careful with your budget and wise with your research are the two key steps to making the right decision.