This is the conundrum that many of us face – whether to go for a brand new vehicle or to choose one that comes second hand. Of course, there are benefits and disadvantages to both options, although if you are looking for value for money a used family car may be the better choice, as you can see from the info below.
Buying a new car?
Many things attract people to buy a brand new vehicle. The first of these is that they can spec out the car in exactly the style they want. This is great if you are looking for added extras like interior strip lighting, additional storage areas, and more comfortable seats. However, it is worth noting that everything you have to spec will come at a price, so it won’t be so good for your budget!
Another big benefit of buying a new car is that they come with warranties as standard. This can be a great source of comfort to those buying a car because they know, outside of an accident, if something does go wrong they won’t have to cover the cost of getting it put right.
Although it is worth noting that many used cars like this mini also now come with extended warranties at a very affordable price, that provides the same type of benefits. Something that means used and new cars are pretty much equal on this point.
Of course, there are some negatives to consider when buying a new car two. One of the most important of these is that you will often have to wait for the car to be built, something that means you can be without your vehicle for several months!
Also, it almost goes without saying but new cars tend to be much more expensive than used cars, and their value falls faster too.
Buying a used car?
In contrast to buying a new car, once you have completed the payment for a used vehicle you can usually expect to either drive it away immediately or have it delivered within a few days. Additionally, used cars tend to be easier to find financing for, at a favorable rate. After all, the lower the interest rate you are charged, the less you will pay overall.
Used cars also tend to be cheaper to tax. Not to mention that second-hand vehicles tend to command lower insurance premiums too. All of which combined can mean massive savings for the purchaser.
Of course, the one thing that you don’t have much control over when buying a used car is the spec. The reason being that this has already been selected, and cannot be changed without significant additional cost.
Fortunately, the good news is that with the internet it is easier to run detailed searches and find the make of car with at least some of the specifications you are looking for. Although, a little compromise to gain the money-saving benefits associated with user cars is a trade-off most buyers are only too willing to make.
Picture found at Pixabay – License CC0
