When the times comes for a new vehicle, one of the biggest and most important decisions that a motorist needs to make will be to buy used or new. There is no clear cut answer here as it will ultimately come down to facts such as personal preference, needs and budget, but read on for the pros and cons of each which will hopefully help you to arrive at the right decision.
Pros of Buying Used
The most obvious benefit to buying used is that second-hand cars are much more affordable. This means that you can save a lot of money by shopping in the used car market as well as get more for your money. This means that used is often an affordable way for a motorist to get behind the wheel of a desirable vehicle, such as a Mercedes C-Class. If you decide to take out a loan or arrange a finance deal, it will also be quicker and easier to pay off than a loan for a new car.
On top of this, another major benefit to factor in is that deprecation is less of an issue, so you will not be losing as much money when the time comes to sell as you would if you went with a new car.
Cons of Buying Used
When you are buying used, there will always be an element of risk as the vehicle may not be as reliable as a new car. Additionally, if you shop privately then you open yourself up to potential scams, there may be no warranty and less consumer protection. There are also many variables such as mileage, so you may need to shop around to find a decent car.
Pros of Buying New
In addition to the obvious benefit of being the only owner, buying new also means that you are benefiting from strong reliability and the latest tech. New cars will also come with a full warranty, you can customize it to your own spec and can enjoy a strong performance.
Cons of Buying New
Obviously, buying new will be expensive so it can be hard to afford and you will get less for your money. Deprecation is also a major issue with new cars depreci-ating by around 35% after just one year, so you will be taking a financial hit if you decide to sell down the line.
Hopefully, this post will help you to identify what the best choice is for your needs, budget and preference. It is a difficult decision to make, but no matter which path you take you should always take your time as it is a major decision to make and a lot of money to spend.
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© by Sam Halmshaw 2021