Buying the perfect car is a thing to feel proud of. It’s a very exciting feeling knowing that soon you’ll be able to drive around in your new vehicle, show it off to all of your friends, and impress passers by. However, a question that many people end up asking themselves is whether they should buy a brand new or a used car. You want a car that’s safe, reliable, fuel efficient, that looks good and drives well…but you can find both new and used cars that fit that description! So which should you choose? Before making the big decision to purchase a brand new car, read up on the pros and cons:
Pros of Buying A New Car
-
Buying a new car could help increase your confidence, build your self esteem, and give you a better image (beware that people might suggest you’re overcompensating for something). However, there are more important pros to a new car…
-
You’ll have the latest model with all the newest features. You’ll have the latest safety standard too, so you know you’ll be as safe as you possibly can be on the roads.
-
You’ll get a manufacturer’s warranty which will cover you if your car breaks down. This will save you money on the maintenance costs you would have had to cover if your car were used, and it will also give you peace of mind.
-
When you purchase a new car, you know that you’re the very first owner. You know that nobody has smoked in your car, that it’s never been driven, it’s perfectly clean, and in absolute perfect condition ready for you to drive.
Cons of Buying A New Car
-
If you have a limited budget, it can be hard to find a new car within your price range. New car offers can come with substantial price tags, and as soon as you agree to buy the car the car will depreciate in value because it has an owner. Depreciation is definitely the biggest con to bare in mind when making your decision. New models can depreciate by 10% after just one minute of you buying the car!
-
Insurance rates on newer cars will be higher, and they tend to be more expensive to repair. Insurance companies base their rates on the cost of repair and accident statistics, so to insure your new vehicle you may have to pay through the nose. You might have to wait around 3 years for these high rates to go down until insurance companies have a real idea of accident statistics!
You need to take all of the pros and cons into account before you even go car shopping. You need to carefully weigh up the pros and cons, and decide what’s really important to you and what suits your lifestyle. Try to ignore car companies cleverly thought out ad campaigns, and put your emotions on hold. This will allow you to make a smart purchase that you can really be proud of!