New Car Smell Versus Old Car Price
Most people want to purchase the newest car they can but are held back over the costs of newer vehicles. A slightly used car is often a good alternative but can it beat the feeling of driving something no-one else has ever driven? The answer lies in how much you are able (or willing) to spend on a new car purchase or how much you can borrow with car loans.
Unless you are purchasing a collectable classic car then a newer vehicle can give you more peace of mind. Unfortunately, a brand new car may be out of your price range esopecially if you are looking at more exclusive models. If you are prepared to sacrifice a little you can save a lot with a used vehicle but do your shopping carefully!
That Wonderful Warranty
The biggest advantage of buying a new car (even with a car loan) is the longer terms of warranty that are avsailable with the purchase, This is often a manufsacturers warranty and will last for a set number of years or for a certain number of kilometres. So if anything goes wrong with your dream car you can either get it fixed or replaced depending on the problem.
Purchasing Limited Warranties With Used Cars
Used cars can also have limited warranties if you buy from a car dealer but these will cost extra. The price will depend on how long you want the car covered for (e.g one year) and sometimes how expensive it is. This is unfortunately the gamble you take when you save money buying a used vehicle.
Tried and Tested Models
The best reason to buy a used car is that the models you are looking at have been on them market for some time. It is no secret that every car has its problems. A vehicle that has been available for some time will have a lot of information about its faults and its selling points.
Issues With Mileage
When you are looking at a used vehicle you will find many cheaper, albeit, higher mileage cars. This can affect reliability of a vehicle. Be sure to have any high mileage vehicle thoroughly checked by a mechanic as many things can go wrong!
Loss of Value Over Time
Any vehicle you buy (new or old) will lose value as soon as you drive away with it. This is because it depreciates with use as well as age. Classic collectible cars are the exception to this rule. Anything that is collected by many people will have an increased demand over time particularly for mint condition vehicles.
Look at your vehicle purchase as something like a television — you will use it for a number of years then possible get a new one. It is not an investment that youy are likely to see a monetary return on. This is why you must purchase something that serves your transport needs.
When choosing your new or old vehicle stick within your budget and get the right information. Just because it is new does not mean there won’t be problems. Try and do as much research as you can about the car and manufacturer as possible.
