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Posted On: January 18th, 2016    To  Auto Info, Cars

Decision of buying a car wouldn’t be difficult enough if the price of a used car and of a new car falls on the same range or there exist a law that you can’t sell an old car legally. But that can’t be true ever as we all know the value of depreciation or such law is ridiculous.

Used Car Vs New Car

Buying a brand new car is a fact which keeps on intriguing us at that very moment when we decide to buy a car. Because who doesn’t like new things? Nobody! But then suddenly the benefits of a used car start to wink in our mind and we fell in the state of confusion.

Well, let us drive out your confusion through the below detailed information.

New car

Benefits:

#1 Peace of mind:
New cars will give you ultimate peace of mind as

  • New cars will keep you away from visiting garage frequently as it should not have any prior wear and tear or mechanical failure issue.
  • It absolutely doesn’t require any mechanical maintenance for the initial several thousand miles apart from the timely servicing of the car.
  • Or incase if anything major technical disorder happens, you have your warranties shielded with your new car for the first 3 to 5 years; also you can extend it further.
  • In addition to these you will fall in love with the good smell of a brand new car.

#2 Latest features:

  • You are going to buy a new car only because if you are fascinated by the latest features, then surely go for it undoubtedly.
  • In a new car you will get the latest and updated cool features which you will not find in a used car.
  • You have the option of customizing and choosing simply the way you want.
  • You will get more advanced safety features in the new car and these can’t be underestimated because of higher pricing as they can save several lives if crash happens.

#3 Easier to buy:

  • If you are buying a new car, you will hardly get a chance to haggle with the dealer for the final price. So it’s easier to buy than an old car.
  • If you are in the dealership in the promotional period, then will get a very fine quote with other exciting offers.
  • Unlike the old car, you don’t have to investigate the history of the car with much hassle.

#4 Higher fuel efficiency:

  • The carmakers are getting success in making more fuel efficient cars than the earlier models.
  • Hence you can save big enough on fuel cost.

Drawbacks:

#1 Cost is higher:

  • If you are interested in new car, it will hurt your pocket considerably as it costs almost more than double of a used car.

#2 Depreciation:

  • Interestingly the fact is that the new cars cost depreciated 20-30 % at that very moment when you drive it off from the showroom.
  • New cars lose their value significantly with the passage of every year.

#3 Insurance cost is more:

  • As the worth of a new car is more, insurance cost goes expensive.

New Car

Used car

Benefits:

#1 cost:

  • As the value of a new car depreciates over time, you can own a used car at a very lower price than a new.
  • This factor provokes buyers to deviate towards used cars because they may get a very good model of car in a much less price.

#2 Choice:

  • If you are fascinated with some car’s unique features and design that’s no longer made, then surely it is a very good option for you to go for a used old car because you can’t find the same with a new.

#3 lower insurance rate:

  • As the vehicle ages, the total worth of the car as well as the insurance rate reduces.

#4 Low depreciation value:

  • Car resale value continues to depreciate but typically in the first 3 years, so whenever you want to re-sell it there will be a narrow difference in the price range of buying and selling.

Drawbacks:

#1 Higher maintenance:

  • Used cars may require higher maintenance costs as you will have to visit the repairing shop frequently if any technical disorder occurred before your ownership.
  • You will have to spend money on revamping the used car.

#2 You might get cheated:

  • There is chance that you might get conned by the seller and after all the paperwork you will repent of buying that car.
  • So better go along with a qualified mechanic to buy so that he will inspect if there is any concealed fault or not?

#3 Old features:

  • Used cars probably are not equipped with the advanced features. So if you are looking for modern features in your car, a used car wouldn’t able to fulfill your wish.

Final words:

In the end, if you estimate, there are pros and cons in buying both the new and a used car. So finally it comes down to your personal preference, desires and financial capabilities.

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3 Comments

  1. Alen Parker says:

    As per my concern, in both of the cases there are pros and cons. So depends which seems positive to you. Everyone has the conception that used cars are defected and having lots of issues in it but it is not true in all cases. If you’re having a good amount of cash then go for a new one else you can adjust with a used one. You have elaborated the comparison beautifully, appreciable. Thank you.

  2. Carl Haynes says:

    Very nice comparison! But a new car is going to stand with more benefits and it is the general preference by majority. Of course, a used car will save you some money while buying but you may need to spend a lot later on for its maintenance. So if both are having pros and cons equally then why should not go for the new one? This is what I think. Thanks for sharing.

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