Shopping for a car might be exciting, but it also takes a lot of patience. With that in mind, one question will likely pop into your head: should I get a new car, or should I get a used one? Is it worth spending so much on a new one – or are you better off getting one that already had a bit of mileage? Both options have their advantages and drawbacks that you need to familiarize yourself with.
Buying a New Car
One of the main advantages that come with buying a new car is that you will get a warranty. This can prove very convenient when you have to repair it or take it into maintenance, as the warranty will cover the costs. Plus, you may easily apply for a title loan without the car when buying a new model.
Since the car is new, the chances are that you won’t need many repairs, to begin with. In the first few years, your only concern would likely be its maintenance. Newer cars also have better technology, which means you may have a higher chance of finding a model with lower emissions and improved gas mileage.
A new car will also have more features compared to a used car – which means that it can come at quite a hefty cost. Cars depreciate in only 2-3 years, which means you may be needlessly spending tons of money for features you may find in used, recent cars too.
Plus, when you buy a brand new car, you are buying a vehicle that is more or less a prototype. Sure, it’s advertised as the “final version,” but there may be a year when they can alter the design or make changes to the engine. As a result, you might have issues finding the appropriate replacement parts.
Buying a Used Car
When you are buying a used car, you pretty much let someone else take the depreciation hit for you. You may as well buy a 3-year-old car that still looks like new and acts like new – while paying a good price for it. Plus, if you decide to sell it in the next few years, the chances are that you may be able to sell it at the same price that you bought it for.
That being said, since a used car is, well, used, you may have to do more repairs on it. Depending on its mileage, it may require you to take it into service now and again. With that in mind, car technology has certainly improved over the years, and you may easily use them for about 10 years and 100,000 miles without any issues.
Making Your Decision
In the end, you’ll just have to decide for yourself which option works best for you. If you have the money, then buying a new car should bring a few extra perks. However, if you are an average person buying a car through a loan, you should easily be able to find a good used car to drive.