Since purchasing an automobile is a huge investment, it is necessary to make sure that you buy the best car for you. And in doing so, the first question that you have to ask yourself is whether you will buy a new car or a used one. Mostly, this decision is based on two things, value and risk.
Buying a New Car
For some people especially for those who have a lot of money to spend, buying a used car is never an option. They are after the peace of mind and pride that new cars bring to their first owners.
1. Reduced maintenance – A new car won’t require maintenance during the first thousand miles. In general, it would only need an oil change and tune up. Some manufacturers would even handle these costs. If you buy new cars, you won’t have to worry about replacing the tires, exhaust system, battery or brakes for quite some time.
2. Warranty – Buying a new car gives you warranty coverage of at least three years or longer. Warranties provide assurance that if something goes wrong within the time covered the car’s dealer and manufacturer will fix it for you.
3. Roadside assistance – Typically, new vehicles come with a roadside assistance for free. Furthermore, some manufacturers reimburse or give you an alternate transportation in case you find yourself stranded far from home.
If you can’t afford a new car, then perhaps you should consider buying a used car. Aside from being cost-efficient, here are the added benefits of buying pre-owned cars.
1. Less depreciation cost – Vehicles depreciate with each mile and year that it runs. With brand new vehicles, a rapid decrease in value happens immediately after purchase. Most new car models lose around 45% or more of their original value in three to four years.
With used cars, you wouldn’t have to worry about rapid depreciation hit. There are several factors that affect the depreciation of cars. These include popularity, assumed quality, stock model, and design.
2. Reliability. The certification of pre-owned vehicles is a new trend in the automobile market that makes buying second-hand cars a good idea. This program ensures the durability and reliability of pre-owned cars as CPO vehicles are required to undergo extensive inspection processes. They also come in warranties that usually go beyond their original manufacturer’s warranty and often have the same features as that of a new car warranty like roadside assistance.
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