No matter if it’s your first car or you’re looking to replace your current vehicle, you might wonder whether you should opt for a used car or a new car. There are so many factors that go into this decision, so it’s something that you’ll want to think about thoroughly before you choose.
To help guide you, here are four points of comparison that you can use when weighing up both of the options:
This probably won’t surprise you, but new cars are very expensive – meaning that they aren’t affordable for everyone. However, as many offer financing options, it can be more feasible if you’re looking to spread the cost over several months.
Despite this, there are two other big downsides in terms of cost. Firstly, the moment that you drive it out of the showroom, your car will start to depreciate in price. This means that the moment you go to sell it on, you simply won’t achieve the same price that you initially paid for it.
Secondly, newer cars generally will cost you more in terms of insurance – a notable con for first-time drivers who don’t have the capital to pay these expensive fees.
Used cars tend to be a lot more affordable than new cars. Which is why they are a popular choice for first-time drivers. They also offer lower insurance premiums, making them more attainable overall. However, despite the cheaper initial outlay, you’ll need to consider how much on-going maintenance will be, as (depending on how old the car is), fixing issues can be very costly.
Winner: Used Cars
The Maintenance and Reliability
As new cars are straight out of the factory, they will undeniably need less maintenance than that of a used car and will be more reliable overall. Therefore, they will be ideal for owners that are looking for a hassle-free option. Apart from your yearly checks and MOT, they shouldn’t require any additional maintenance.
As used cars are typically older, as aforementioned, they will often require a lot of maintenance and their reliability can be uncertain. And depending on the age and the condition will need parts replaced throughout the years. To boost its performance, there are parts that you can buy for it (such as that from TDot Performance) but you’ll have to be aware of how to install them – which is why it’s advisable to seek professional help from a mechanic.
Winner: New Cars
New cars tend to come with favorable warranties – something that gives owners the peace of mind that if anything goes wrong, they are covered. Of course, the type of warranty that’s included will depend on where you’ve bought it and the car itself, but it’s a benefit to keep in mind when making your final decision.
Ok, so some garages or private sellers will provide you with a warranty for your used car. However, that’s not always the case. And even if there is one in place, it might not cover all that you require. So before you purchase one, ask whether there is a warranty on it and what the terms are. This is just one top tip that you can use when buying a second-hand car.
Winner: New Cars
With a new car, you can decide what trim you want, the type of tyres, the color of it, etc. This opportunity to choose the specification means that you can purchase a vehicle that’s exactly how you want it.
On the other hand, with a used car, you can’t really alter anything massively. Created in the style of the previous owner or in its basic factory form, a used car lacks the uniqueness offered by newer models.
Winner: New Cars
So, there you go! Those are four points of comparison that you can use when deciding whether a new or used vehicle is right for you. At the end of the day, it’s your choice. But by looking at the above and conducting further research, you should be in a better position.