If you’re on the lookout for a new car, one of the first things you need to decide is whether you’re going to buy a new or used model. While buying a used was once a risky task, these days you can pick them up from dealerships at remarkably low prices. Alternatively there are various online websites to help with this such as AutoTrader or AutoVolo in the UK.
There are pros and cons to both options, so to give you a little help, below you’ll discover some tips for choosing between a new or a used model.
The money aspect
One of the main factors that’s going to influence your decision whether to buy new or used, is the price. Used cars are typically seen as the cheapest option, but they can actually be more difficult to purchase than new cars. If you do not have enough money to buy a new car, then used cars in el cajon are the best option.
This is because you’ll usually need to put down a down payment on a used model if you’re relying on finance. However, if you have a good credit rating, you may not need one at all for a new car. You also tend to get more discounts and offers on new models.
However, if you can afford to purchase a used car outright, that may be the best option rather than going for a new model on finance. This is because research shows that car finance is causing many Brits to get themselves into debt.
The depreciation factor
Something else to consider is depreciation. The minute you drive a new car out of a showroom, it loses approximately a third of its value. Certain models have a higher depreciation rate than others so this is definitely something you need to consider.
Depreciation doesn’t just impact how much you’ll be able to sell the car for in future, but it can also impact your insurance policy too. Used cars don’t suffer the same depreciation fate as newer ones. So, if you are looking to sell in the not too distant future, a used model may be better.
Repairs and maintenance
Repairs and maintenance are two other things you’ll want to consider when deciding between new and used models. Used cars are often nearing the end of their warranty, but you can top it up with an extended brand-specific warranty such as a Toyota warranty. As long as you’re covered, repairs and maintenance shouldn’t cause too much of an issue. Have you heard about panel beaters? They repairs vehicle bodies back to their factory state after having been damaged.
Overall, there is no right and wrong answer as to whether you should choose a new or used car. It all comes down to personal preference. However, the above factors can help when making a decision.
