Should You Buy New or Used?
Posted in: Car Insurance, Driving Tips, Fleet Driver News, News.
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There are lots of things to think about before you buy a new car, but the first question you should ask yourself is whether you would prefer to buy new or used. There are advantages and disadvantages to both, but once you have weighed the options, you will have a better idea of what you are looking for overall.
Here’s what you need to know:
New Cars
The Pros
When you buy a new car, you won’t need to worry about any unknown history as the car will be fresh from the factory with you as its first driver. This is a brilliant advantage to have because you can be assured that the car is in tip-top condition for you.
Another advantage of buying new is that you can specify exactly what you want. For example, if you were to look at New Mercedes-Benz you would be able to consider a range of models and choose the one that is perfect for you, rather than just the one on offer. This is also great because there may be sweeteners on offer to make it easier to buy.
The Cons
The main problem with new cars is that they may be much more expensive than buying used. Plus, if you are a new driver and not so confident on the road just yet, this could cause some problems if you bump it or get a scratch as these issues would be more expensive to fix.
You should also look at your insurance premiums and find out whether you would be better buying new or used. New cars are obviously more valuable and so this will affect your premium. However, your insurance is calculated using a number of factors so it is worth checking before you write off the idea of having a new car altogether.
Used Cars
The Pros
There are two main pros of used cars: first, they are much cheaper to buy and second, they don’t depreciate nearly as fast as brand new cars which lose around 20% of their value almost straight away. This means that if you are looking for something affordable that won’t lose its value, the used car market is a perfect place to start.
Your local car dealer is likely to have a few used cars or be able to recommend someone who does. Buying from a trusted dealer or car mechanic is a great idea because it will give you the reassurances you need that the car is in good condition before you buy. However, you can also ask a professional to inspect any car before you buy.
The Cons
As before, the main con is that you may not know the full history of a used car and, if you buy privately, you may be drawn into a scam where the mileage has been tampered with. Another downside is that your used car may not last as long as a new car would due to the mileage it has already done. Plus, if your car is older, it may be more difficult to source the right parts for replacement.
So, bearing all that in mind, you are ready to start your search!
