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.
Pros
Pros
Pros & Cons of Buying a New Car
Pros
- 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%
Pros
- 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.
