Should You Purchase A Used Car Or A New One?

Many people ask, should I purchase a new or used vehicle? From a purely financial standpoint, buying a used car can be the smarter option. New car resale values drop the most after first few years due to depreciation. Which means you can often pick up a late model used car at 20% to 30% off the price of a comparable new model or you can choose to use the savings on a more premium used car. For example: You could buy a late model “3-series” over a brand new Camry, A used Honda Accord over a brand new Honda Civic. If you choose to buy a used car, you should be prepared to invest some time and energy.

You’ll want to search websites like kotsekoto.ph to see what’s available from car dealers and private party sellers. If you are in a hurry to buy, you may have to settle for a car that doesn’t have the exact color features or options that you prefer. You should now as well that buying a used car comes with some risk. You should obtain a vehicle history report and have your mechanic check it out to ensure that the car doesn’t have any hidden problems. To mitigate the risk, you can buy a certified pre-owned car by the dealer or invest in an extended warranty. However, those items will reduce some of the saving in buying a used car.

kotsekoto.phEven though it may cost more, purchasing a new car has its advantages. First, you don’t have to worry about how the previous owner treated the car. Second, all new cars come with a standard warranty to help reduce the cost of mechanical repairs. Third, by buying new cars you’ll get the latest technology, latest safety features, cool designs, color and option you like, and best of all you get that new car smell!

In the end, the choice is up to you. try to weight which option suites you better and go with your guts! Good Luck!

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