Car ownership is probably one of your aspirations in life. But when it comes to this, you have the option to choose between a brand-new model or a used one. For the most part, you’ll opt for a new car due to its handful of advantages. On the other hand, buying a used vehicle also comes with some practical benefits.
When choosing, know that both car purchase options have pros and cons. It’s just a matter of knowing how much you financially have and what works for you. And there are some key factors to consider before taking the plunge.
If you’re looking to choose between a new and used car, here are crucial factors to consider:
The biggest factor in choosing between a used car and a new model is its pricing. Many car buyers opt for a used vehicle because they can’t buy a new one. Second-hand models are very much affordable, yet they are still in top shape and working condition.
Take note, however, that used vehicles require higher financing than a new model. So if you’re getting an auto loan to fund your car purchase, take advantage of financing deals and opt for a new model instead.
Another thing to consider is the availability of car models or used cars in your locality. It’s best if you are given tons of options so you can choose a vehicle best suited for your personal needs, preference, and budget.
Most new car models are readily available, but you must purchase one from a franchised car dealer. For a used car, you can obtain one from a store for used vehicles, a private seller, or a car dealer.
3. Aesthetic Value
When purchasing a car, you must not neglect its aesthetic value. Many buyers look into the visual appeal of a brand-new car. Whether it’s the color, size, or design, it must appeal to your aesthetic needs.
Used cars may take a backseat when it comes to this. They may have a few scratches and dents, and their paint may have faded in time. But fret not, as you have the option to get a car refurbishment.
4. Car Features
When buying a car, its features must be your top consideration. It must be able to meet your vehicle needs. Brand-new models have a competitive advantage over second-hand ones as they come with the latest technology and safety features. You can also bank on its fuel efficiency and performance. Lastly, you can take advantage of their infotainment and connectivity.
However, used cars may also have some of these features. It’s just some of these used vehicles need to get sold by private individuals. If you’re lucky enough, you can buy a used car with the latest features sold at a lower price.
5. Maintenance and Repair
Manufacturers make sure that their brand-new models are in top shape and working condition. When you buy a new one, you need not worry about its maintenance and repairs during the first few months. But depending on your driving habits and capabilities, you’ll eventually have to maintain and get it repaired in the long run.
When purchasing a used model, you must be wary of its actual condition as you don’t want to waste money on its constant maintenance and repair. It defeats the purpose of buying a cheaper vehicle in the first place.
Warranty and insurance are two critical factors to consider when buying a new car or a used model. For the most part, new cars have warranties covered by the manufacturers. You have nothing to worry about buying a new model, as far as the warranty is concerned. However, it’s best to buy a certified second-hand car from a dealer so that you can have an extended warranty.
7. Car title
Buying a new car or used model requires you to know how to get a car title. If it’s a brand-new car, it will automatically be named under you. The dealer handles all the paperwork, and you’ll simply wait for the vehicle title from the Department of Motor Vehicles (DMV).
If it’s a used one, there must be a transfer of title from the previous owner to you as the new owner. The seller must sign the title to release the car ownership. You must then take the new title and the registration to the DMV.
Choosing between a new car and a used model doesn’t have to be confusing and daunting. Consider key factors such as its pricing, availability, aesthetics, features, maintenance, warranty, and title. Be sure to weigh the pros and cons of both purchase options. Most importantly, know what you need and how much you can afford. All these will help you make the right decision.