Buying a new car is a big decision, and one of the most important things to decide is whether to buy a new car or one which is pre-owned. Here, we will discuss the pros and cons of buying a new car versus a used one, to help you make an informed decision.
Advantages of a New Car
There are loads of advantages to buying a new car. There is of course that feeling of joy when you drive a shiny new car home from the showroom. You can also specify which features you want in your new car, and have it designed to suit your personal style and requirements. New cars also provide more peace of mind that nothing is going to go wrong, and often come with several years’ warranty.
Disadvantages of a New Car
The major problem with a new car is the fact that it will lose a lot of its value as soon as you take it home. The rate at which cars depreciate in value is very high compared to most other goods, so it’s unlikely you will make a decent amount of money when selling your car on. And on a closely related note, the other problem with new cars is their high price. It’s often difficult to buy a new car outright, so if you are thinking about taking out a loan, we recommend visiting Moneral, an online borrowing site where you can find the best deal for your needs.
Advantages of a Used Car
Used cars are a lot cheaper than new ones to buy. You also usually get better value for money – as we discussed above new cars quickly start to drop in value. Many used cars still have lots of years of good driving left in them too. Modern cars can easily reach 100,000 miles before needing major repair jobs, and even then can carry on for thousands more.
Disadvantages of a Used Car
If you buy privately, you don’t really know what you are getting. The car could have some problems you can’t see, and sellers aren’t always honest. You also can’t be as choosey when it comes to the car’s designs and features. If you are looking a certain features and a particular model, you probably won’t have the luxury of finding a car in your favorite color or with the interior style you love.