There is a lot to think about when you are in the process of buying a car. Most motorists find that this process is something which they definitely do not want to rush. However, that doesn’t mean that you want it to take forever either. The problem is, usually when you are buying a car it is because you are in desperate need of one now! That means that you don’t want to spend time worrying about details which don’t matter to you. At the same time, everyone wants to do their best to save as much money as they can. Finding a healthy balance between these two can be difficult - but it is well worth the effort. One of the main things you need to ask yourself is whether to buy new or used. If you can work this out sufficiently, then you have managed to find that elusive balance. With that in mind, let’s take a look through the various pros and cons of each.
New - Pros
Buying a new car is, without a doubt, the most enjoyable way to go about it. There is nothing quite like driving away from a dealer with your New Honda or whatever you have gone for. When you buy new, you have the obvious advantage of having a car which has not been driven at all. This means that it is likely to perform very well. You also probably have a warranty - a great feeling of security which you don’t get used. There is nothing quite like buying new.
New - Cons
But it’s not all a walk in the park. There are some downsides to buying new, too. Depreciation is a real concern for many motorists buying a new car. Depreciation simply means that the car loses value over time. The truth is, your vehicle loses thousand off its value the moment you drive it off the forecourt. There is also the fact that insurance is likely to be just that little bit pricier. And, of course, you have the upfront cost - much larger than when you buy used.
Used - Pros
If you are trying to keep an eye on your financial situation, then there is good news from the used category. If you buy a used car, you are unlikely to spend that much on the upfront costs. What’s more, you will probably find that insurance is considerably cheaper when compared to buying a new car. The process is also often that much faster. The used market is sprawling with just about every model you can name, so you are sure to be spoilt for choice.
Used - Cons
However, buying used does have its drawbacks. First is the fact that a used car is not necessarily going to last you a long time. It is likely that regular visits to the mechanic will be in order. Running costs will probably be much higher, and tax might be an issue on the older cars. With a used car, you also have no way of knowing just what kind of state it is really in. It is a bit of a risk - but it’s up to you whether that risk is worthwhile or not.