Buying a car is a big investment. In fact, after your home, it’s probably going to be the biggest purchase you make in your life. So, it’s not all too surprising that picking a set of wheels is going to entail a whole lot of thought, planning, and serious decision making. You can’t really just waltz into a dealership and pick one without thinking twice about it. One of the biggest choices to make when it comes to choosing a car is whether a used car or a new car will better suit your needs and circumstances. Of course, there are pros and cons that come hand in hand with each option. Here’s a quick run through that can help you to make the best decision the first time round.
Buying a New Car
We generally consider buying a brand new car the best option available to us. This makes sense in many cases. You will know that you are the car’s first owner and that it will be in perfect condition when you receive it. There aren’t going to be any faults with the vehicle or marks and stains on its interior. It will also have the lowest mileage possible, meaning that it will have a high resale value if you do decide to change your mind and sell it. You may also be able to opt for state of the art features including Bluetooth MP3, parking sensors and more. A more aesthetic benefit is that you can also choose the colour rather than settling for the vehicle you want in a colour that you’re not actually that fond of.
Financing a New Car
You can buy a new car outright. But really, very few people have the money available to do this. This is where financing options come into play. When you take out finance on a vehicle, you come to a deal with a dealership in which you will usually put down a deposit and then pay the overall value of the car back in monthly instalments. You will have to pay interest on this, but it makes buying the car more financially viable.
Buying at the Right Time
It’s important that you buy a car at the right time to save as much money as possible. Remember that sales staff are pushing for sales all through the year and they will often receive commission on each sale, so may be lenient and reduce costs, as selling the car to you actually benefits them. However, if you want to save, you should be more tactical with your timing. Approach dealers when they’re nearing the end of their sales quarter. They are likely to have targets to meet with sales figures and are likely to bend on prices more as a result.
Buying a Used Car
Now, buying a new car clearly comes with perks. But while there are obvious benefits that come hand in hand with a new vehicle, it’s not always affordable. When you buy a brand new car, it will immediately lose value as you drive it, as it moves from being categorised as new to being categorised as used. If you are careful and savvy, you may be able to find a used vehicle with low mileage and in great condition for a much lower price than “brand new”. You just need to know the car you want – say, a Used Ford Focus – and find a reliable dealer with positive reviews.
Warranties are something you get with a new car rather than a used car. It is similar to a guarantee, giving you security in knowing that your vehicle is covered for a set period of time or number of miles travelled once you’ve bought it. But you can buy used car warranties for peace of mind. Talk to your dealer about this option if it’s something you’re interested in.
Always View Before Buying
When you buy a second hand car, always view it and check it over. Sellers aren’t always particularly honest. Though they should let you know about any fault, many won’t for the sake of making more money. Check over and test drive any vehicle you’re considering buying yourself. This will help you notice potential issues.
As you can see, choosing the right car to suit your needs can be a pretty complex process. But the good news is that you will find the best vehicle for yourself at some point. Hopefully, the above advice will help you to reach your goal sooner!
*this is a collaborative post