If you’re planning to buy a car, you might be thinking about whether you should buy a new or a used car. Both have their advantages and disadvantages, so reaching a decision can be hard. To help you out, here is a clear list of the pros and cons of the two.
- The first advantage of purchasing a new car is that you get the latest technology and design updates. Some features that weren’t available in older models will be available to the newest model in the market.
- Safety features are also updated with each model released in the market. There are advancements in technology being made now that weren’t available to car manufacturers before. For example, there are sensors that keep a safe distance between your car and the one in front of it. These sensors cause the car to stop if the vehicle in front of you suddenly comes to a halt, preventing a collision. This type of safety feature wasn’t available to older used cars.
- Of course, when the car is new, everything else is new. You’ll know for sure that the car wasn’t involved in any accidents. It hasn’t gotten any damages or gone under any repairs. The interior finishes still feel and smell new. The mileage is yours for the taking.
- The most obvious disadvantage of purchasing a new car is the price of it. You’ll have to pay a lot more for all the new features that come with the latest model. Compared to a used model, the cost of a new car is considerably higher.
- Because the car is new, its value significantly drops once you take it out for a drive. From an asset, the car immediately turns into a liability, which most car owners don’t seem to realize when they purchase a car.
- With a used car, the original owner has assumed the high depreciation value of the car in the first few years of their ownership. This means that you get to purchase the car at a much lower cost than its initial price. In other words, you may be able to buy an old model of a luxury car for the price of a new economy car.
- Sales tax and insurance premiums are also lower when you buy a used car.
- If the car has been maintained properly by the previous owner, and if you purchase the car from a reliable dealer like Sandown Group, you can purchase an older model that is still in great condition.
- The previous owner might have done some modifications on the car that doesn’t fit your taste.
- A car that is a few years old may not be covered by warranty anymore. It will also not have the updated features that a newer model has. If you’re looking for a used Mercedes for sale UK, for example, a 2018 Mercedes-Benz C300 Cabriolet will be more advanced than a 2015 model.
So, these are some of the things that you need to consider when deciding if you should buy a new or a used car. Before making a decision, make sure that you’ve thought it out and have done your research.