When buying your car, there are lots of things to consider. The first consideration is deciding whether you would like to buy a new or used car. For those who are still unsure would like to take, the following section should help you better understand which option works better for them.
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- Buying a brand new car is also your best choice if you’re in a rush. You won’t have as much time for research or legwork as you would for a used car. You just visit a showroom near you or order one with the options that you like. If you have any questions, a sales rep will always be pleased to assist you.
- New cars also come with a manufacturer’s warranty, which means that you will be responsible for any major repairs on your vehicle for the next few years.
- New cars are also more fuel-efficient on average, helping you save and safe more in the long run.
- Even though buying a brand new car is a great option for the reasons outlined above, it’s not without its downsides.
- The main problem of going this route is new cars usually depreciate at a much faster rate than used cars. Few things depreciate faster than a new car: its value drops by 10% the moment you drive away from the lot.
- Depreciation rate of cars is quite large: 63%
- If you go with a used car, you won’t have to worry too much about that—since its previous owners already took the hit for you.
- It sounds kind of mean, but depreciation is your friend when it comes to buying used cars.
- If you are looking for a new car model you can’t afford, wait a few years; its price will go down as time goes on, especially if it’s a popular model.
- The vehicle’s engine may be damaged or has undergone repair that you no way of knowing until you take it for a test drive, or have a trusted mechanic examine the car for you.
- If you have a trusted mechanic or know your way around an engine, buying a used car from a private seller becomes a more attractive option.