Opting for a Used Car or a New Car?

You can’t get on a bus every morning and, as a result, you arrive late to work? You have decided to buy a car to alleviate this problem, but you can’t decide which one to buy. This article will help you make the right choice by comparing used and new cars.

The Strengths of a Used Car

There was a time in the past when you dreamed of owning a particular car, but it was out of your reach when you first bought it. As time goes by, the cars you dreamed of may no longer be those unattainable objects, especially since they may no longer be in fashion. Released as used cars, they will be offered at a much lower price, so it becomes feasible to dispose of one.

Once a car is purchased and put on the road, its value decreases, by at least 20% compared to its list price. This means that the more miles the car has been driven, the more its cost will drop. In three years, this loss in value can be as much as 50%. This would be the best opportunity to get the car of your dreams, with price reductions from 20% to 60% off its new value.

The Weak Points of a Used Car

Since the car is used, it could be a stolen or unreliable car. To avoid this risk, you should go to a dealer. On the other hand, your used car might require more maintenance, depending on what it went through while it was still in the hands of its previous owner. So you should already be prepared for likely repairs.

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The Benefits of a New Car

Having a new vehicle fresh from the factory has become a real trend. In today’s world, having a car reflects your social status.

Indeed, having a new car is a good investment. It is expensive compared to a used car, ranging from 6,000 euros to over 200,000 euros. However, you will not have to worry about repairs or parts replacement, as it is still in excellent condition. Most of the time, it is under warranty, which offers specific security on all points. However, there are specific criteria to consider if you choose to buy a new car. Indeed, its “new” status reveals that it is state-of-the-art, meaning that it has just come out of its manufacturing plant.

The Disadvantages of a New Car

Just as the price of your car was expensive, your insurance premium will also be very high. This is because a vehicle that comes with several costly options will have insurance costs proportional to its price. In other words, the more valuable the car, the more expensive the claim.

After you buy your car, its value decreases over time. When you decide to sell your car one day, it will be worth less than the price you paid for it. By doing a repair and a renovation, you would risk spending more. In any case, you have to bear some loss when you resell it.

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