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Used Car VS New Car: Which Should You Buy?

When it comes to purchasing a car, probably the biggest decision one has to make is whether to choose a brand new car or a used car. Neither of these choices can be said as truly better than the other, as both have their own sets of pros and cons. Making your choice really boils down to what you’re looking for in a car.

To help you decide, here is a breakdown of the pros and cons of buying new and used cars:


New Car: Pros

Whenever the word “new” is linked to something, it always adds a certain appeal to whatever that something is. It gives us the notion that this something is perfectly untouched, unspoiled and simply put, at the best condition it will ever be. When it comes to cars, this is actually quite true.

New cars are simply exquisite because they’re at their very best. All their parts are still at their strongest and best condition; they haven’t been exposed to damaging elements like moisture, friction and heat, so you can be sure that everything is going to perform at its best.

In case they don’t though, you need not worry because one of the perks of having a brand new car is having roadside assistance and great warranties.

Another benefit to having a new car is having the latest in safety features and gadgets, and having the freedom to choose these and other details like interior finishes and exterior colour.


New Car: Cons

The biggest downside to buying a new car is how much it can take out of your wallet. New cars are quite pricey, and the moment you drive away with them their value depreciates extremely fast. And while they may not need as much maintenance as a used car, you’re still going to worry about accidental scratches and bumps, the tiniest odd sound the engine makes, and parking in tight spots.

Used Car: Pros

In total contrast to new cars, the biggest benefit to used cars is their price. For less than half the price of most brand new cars you can already purchase a used one that’s still in pretty good shape. You won’t have to worry about rapid depreciation (since the first owner has taken that off your hands) or being extra careful with handling your car.

You will also have more choices with used cars. Some of them may have only been used for a year and therefore come in a pretty recent model, and some can be several years old, with features that you may have wanted but have been phased out in newer models.

Another added benefit to used cars is that they have lower insurance rates and can still come with original warranties.


Used Car: Cons

Used cars can be a bit of a gamble since you don’t know where they’ve been, how they’ve been treated, why they’re being sold and what defects they used to have or currently have. They may need a lot of maintenance in the long run since they’re already a bit worn down, and the cost of maintenance could become quite significant, depending on the state of the car.


Paying for Your Car with Personal Finance Co.

As you’ve seen, both new and used cars have their good and bad points, and it’s really up to you which ones offer the better benefits. And if you’ve set your mind on purchasing either one but don’t have enough finances to do it, simply contact Personal Finance Co.

Here at Personal Finance Co. we don’t just specialise in the personal loan, we offer car loans as well. We don’t just help people out with their financial troubles through personal loans, we also help them achieve their dreams of driving their very own car by giving secure car loans and even bad credit car loans.

Applying for a loan is easy. Simply fill out our online loan application form and we’ll get back to you quickly and get you the finances you need. With Personal Finance Co. at your side, you’ll soon be behind the wheel of your very own car.

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