Tuesday, February 27, 2024
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HomeAutomotiveNew or Used Car: What Is the Best Option for Your Budget?

New or Used Car: What Is the Best Option for Your Budget?

Well, you see a lot of advertisements for a new car all around you, on television, in newspapers, magazines, and online when you’re surfing the internet to complete your office work. Hence, it is evident that a shiny, new car seems attractive. Besides, you have heard from your pesky, all-knowing friend who advocates buying a used car is an intelligent choice that will save you plenty of money, which you could use for your pressing needs or save up for the future.

Whether to buy a shiny, new car or a second-hand car that can save you a fortune is a tough decision that you have to make it!

Buying a Brand-New Car

Apart from a new smell, shiny paint, and clean interiors, there is more to expect from a brand-new car.

  • Nw cars come with a warranty, so if anything goes wrong, it is likely covered.
  • Secondly, you don’t have to worry about how the car was maintained because it is brand-new and you’re the first owner.
  • These days, most of the new cars come with roadside assistance. Thus, it offers you added peace of mind and save you from paying money from your pocket for the expenses or paying towing expenses if you’re stuck on one side of the highway.
  • Moreover, new cars can offer the best fuel efficiency standards and the latest safety features like structural reinforcements, side-curtain airbags, and a rearview camera.
  • Many big brands offer financing programs with zero interest or low interest if you have an excellent credit record, making it less expensive to finance a new car compared to a second-hand car.

Undesirable Aspects of Purchasing a New Car

  • Purchasing a brand-new car hits hard on the finances.
  • Brand-new cars cost more initially and quickly depreciate. A vehicle loses maximum value in the first few years of ownership.
  • A new car sheds off between 15% to 20% of its value the moment you drive it away from the showroom on Day 1.
  • Besides, new cars come with higher insurance costs when compared to used cars.
  • Monthly instalment repayments will remain for years.

Thus, when buying a new car, you’re incurring a higher debt and losing value more speedily compared to buying a used car for sale in Sydney.

Buying a Used or Second-Hand Car 

If you can lay your hands on a late-model with low mileage, then it would be the best buy. 

The Positives that Attract Us towards Used Car Purchase 

Do you want to get the maximum value out of your used car purchase? Yes! Well, you might even be able to purchase a luxury car at an affordable price point that might be two or three times less than buying a brand-new one. 

  • When buying a pre-certified car from the auto dealers, you can buy an extended warranty above the pre-owned car warranty that the dealer offers with the used car purchase.
  • These days, modern cars will run up to 160,000 kilometres with few mechanical glitches. Therefore, buying a car that has 60,000 kilometres on the odometer could mean 100,000 or more kilometres of hassle-free driving.
  • If you are money conscious and don’t want to spend a fortune on a brand-new car purchase, then buying low mileage, a late-model used car is as good as new.
  • Some people trade their car every few years, and if you get hold of one such used car, you won’t notice the difference between a second-hand car and a brand-new one. 

Thus, purchasing a car that requires a little time and attention can significantly lower your ownership cost. 

Undesirable Aspects of Used Car Purchase 

Despite the warranties, second-hand cars still come with so-called “uncertainties”. That’s because you don’t exactly know how the car was maintained by the previous owner or why was it traded-in. Besides, there is always that lingering fear of purchasing someone else problems. 

It is difficult to lay hands on a used car that comes with the features that you need. Even if you buy the used car in good condition, you’ll still need to offer essential maintenance sooner than is required for a brand-new vehicle. Used car maintenance can include items such as new brakes, new tyres, radiator, and transmission flushes, and so on. 

Should You Buy a New or Used Car? 

Whether to buy a new or used car is a decision that you need to make based on your financial condition. At the same time, you need to buy a car that can provide you with safety and reliability. Above all, you need to ensure that the car you buy has comfort, features, and conveniences you want. Purchasing a car is a critical financial decision and the second largest investment after a house. Thus, research properly, buy wisely, and enjoy the ride. 

You can buy a brand-new or used car for sale in Sydney with confidence from a trusted Ford dealer near you.

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