Overview:
A comparison between a new car vs old car is quite difficult because in both situations there are few benefits and there are few disadvantages. This will happen sooner or later when the old vehicle will expire and the final exhaust will breathe on the side of the roadway. In addition, you are forced to accept this weird truth that you need new wheels for your vehicle. A shining new car will be better but your friend is saying and forcing you to buy a used car which is better and it is a great choice in the long run.
Here we are going to discuss the Advantages and Disadvantages of Buying an Old car vs a Used Car and tell you which is better for you.
Benefits of Buying a New Car:
We are not denying that the curb appeal of the brand-new car will smell of shiny paint and the clean interior that impress you. Especially the reaction of your friend when they see your car and say “Oohs aahs”. Below few other benefits of buying a new car:
Reliability and Warranty Protection:
Few cars have great reliability records and if anything goes wrong in the vehicle, the manufacturer covered and resolves that problem because of the warranty. Buying a new car means that you don’t have a concern with the vehicle or how it was treated before you purchase it.
Latest Features:
When you buy new cars there are many chances that they meet the latest fuel efficiency standards and they have also up-to-date safety features.
Free roadside assistance:
Many cars come along with road assistance. This all will cover the cost of paying for coverage on your own and being stuck with a towing bill. If you break down in this situation.
Disadvantages of Buying a New Car:
High Price:
The first disadvantage of buying a new car is that the price will be high obviously. There is a huge difference between when you buy a used car and when you buy an old car. It depends on the money that is in your wallet whether you afford the new car or not. Because many people are purchasing new cars after getting loans and then paying back that loans on interest. So this is the first disadvantage of buying a new car vs old car.
High Cost to insure:
If we talk about insurance on a new car then it will also be higher as compared to the used models of cars. Because the replacement value of insurance is also higher.
Not stay new for the long term:
In last, the new car which you purchased will no longer be new because, after a month or week, you will see the condition of your car. This is weird as compared to when you purchased it maybe you got a small scratch on it. After one year, your new car will become much more likely than the old or used car which means that you just pay high money for a maximum of 1 year. Because after that there is no difference between your new car and someone used car.
Benefits of Buying a Used Car:
If we talk in marketing terms about used cars then the pre-owned vehicles don’t have great charm as compared to the charm of new cars. Although, here are a few benefits of buying a used car:
Lower price:
When there is an automotive vehicle is put into the used car category in the market, then its depreciation has been already taking place. It means that the depreciation is already paid by the prior owner. Buying a used car will provide a better chance to get a great vehicle according your money.
Cheaper to Insure:
If you buy a new vehicle then the dealer will need you to have full insurance coverage for the new vehicle that you want to buy or you want to finance. On the other hand, it might be possible that you will spend less on insurance if you pay cash for the used car.
Warranties Available:
Few vehicles come up with warranties that cover the most expensive parts of the car drivetrain for 200,000 miles. If you purchase a certified pre-owned car from the dealer then you will likely get a warranty that might be extended from the manufacturer’s original warranty.
The pre-owner certified cars look to be more worthy as compared to the used cars. But they also have been carefully inspected as much as needed. If you are skilled with the wrench then buying a car that requires a little time and your attention will decrease your cost.
Disadvantages of buying a used car:
Maybe or maybe not they are under the warranty and used cars will come along with a few potentially pricey unknowns. Because you don’t know how the car was treated by the official owner and what is the reason forced the owner to sell this car. So, it is always a risk to purchase someone else property.
Higher Mileage:
A used car will probably have higher mileage which will decrease the lifespan of the vehicle. If you buy a higher mileage vehicle then it might be possible you will need to replace your car as soon or maybe later. It will add the buying cost to your vehicle. So this is the first disadvantage of buying a new car vs old car.
Less Consumer Protection:
If you get to know that you buy a lemon then maybe you have fewer resources as compared to the new car. Because lemon laws will apply only to those vehicles that are under a certain age. And have less than a specific number of miles on the odometer.
Limited Selection:
If you want maybe 3 or 4 features in a used car it might not be possible that you will get all these features that you want. You have to come out of your zone and compromised in any feature.
Should I buy a used or new car?
When you have to do a comparison between a new car vs used car, you have to consider both up-front ongoing costs and prices. A few things that you might be responsible for paying along with the new or used car will include:
- Property Tax
- Maintenance
- Repairs
- Car Insurance
- Down Payment
- Gas and Oil
When you buy a new car in the first year you will spend less money on the maintenance of the car. Because it will not require any maintenance from you. But after 1 year or 1.5 years, it will need maintenance and repair costs. And then you will think about selling this car. On the other hand, a user will cost more for maintenance but you have to pay fewer interest charges on the used car if you pay cash in advance. So consider all these factors and the above benefits and disadvantages when buying a new or used car.
Conclusion:
Buying a new car or a used one is dependent on many factors. But last it will always depend on how much money you have. If you have money to afford a new car then definitely buy a new car. But if you have less then go for a used car.
