There are a number of benefits to buying a new car but there are just as many to buying a used car. You’ll need to work out what is most important to you in order to make the best decision.
New cars
The biggest problem with a brand new car is that as soon as you drive it away from the dealership, it depreciates and will continue to do so quite rapidly over the coming years. However, new car dealers give a number of benefits to car buyers. This could be anything from free servicing to free insurance. And, of course, you don’t need to MOT a new car for the first three years.
With a new car you have full control over the look, colour, engine size, trim and other details. These are added cost to the price of your new car.
There tend to be a lot of finance options available on a new car. This could be anything from a simple car loan to a more complicated deal that means you either pay a sum at the end or give the car back. Be sure to check the small print if you are after a car on finance as some places may hit you with unexpected charges.
There’s also the option to simply hire the car. You pay a monthly price that covers the cost of the car, insurance and tax. However, at no point do you own the car. You would keep paying until you wanted to get rid of the vehicle.
Used cars
While you tend to have less chance to customise a used car, it’s not too difficult to find the one you want with the features you’re looking for.
Even if you buy a used car that’s only a year old, it’s already lost a lot of its value and you’re able to get a bargain compared to the price when new. You do have to think about why the original owner got rid of that car after only a year, though.
Buying a car that’s only one year old means you get a lot of the benefits of a new car such as no need for an MOT and some makes will still be under warranty after a year too.
Take a look at this Miami car dealership for an idea of what sorts of cars are available used.
In terms of finance, used cars tend to come with lower monthly payments. There are fewer deals available but if you go to a dealership then you should be able to get a basic finance package.
Ultimately it all depends on the type of car you want and if you want to be one of those people with the newest model. Perhaps you could even think about buying a classic car. These tend to be quite expensive to run but often a pleasure to drive and own.