Once you have decided to buy a car, the first problem you will face is whether to buy a new car or a used car. There are advantages and disadvantages of buying a new car vs buying used car.
New Car Benefits
It gives you peace of mind when you know all parts and components of the car are in perfect condition. You do not have to worry about hidden problems that are difficult to detect. You will receive complete and comprehensive warranty that comes with many benefits from the manufacturer and the seller. For a few years after the purchase, a new car requires very low maintenance.
Disadvantages of Purchasing a New Car
As soon as you take out the car from the dealer’s store, its value decreases immediately. You will have to pay some types of taxes that are applicable only on the new cars. You can buy only a latest model car.
Benefits of a Used Car
First of all, you have to pay less to buy a used car. If you can get your hands on a used car in good condition, it will prove significantly cheaper compared to buying a new car. You do not have to pay taxes that are applicable only on the new cars. Even the insurance premiumis charged at a low rate on a used car.
If the car is not too old, it may still be under the initial manufacturer’s warranty. You are not limited to buying only the latest models of cars. There is a wide range of old model cars available for sale in the used car category.
Disadvantages of a Used Car
The biggest problem is that you cannot know whether there are hidden defects in a particular part or component of a used car. Even trained mechanics may miss some problem that will show up after buying. The used car has been on the road for some time so now it will involve regular repair and maintenance costs. Its warranty may have expired.
Weigh your options and buy the car that fits your requirements, preferences and budget.