Finding a reliable vehicle within your budget can be easier said than done.
This blog is here to help you answer your first big question when car shopping:
Should I buy a new or a used car?
Advantages of a New Car
Lower Emissions and Better Fuel Economy
Technology is forever advancing, as is manufacturers’ consciousness of our carbon footprint. Although the fuel efficiency of your car will depend on the make and model itself, you can bet that a new vehicle will be more fuel efficient than a comparable car built 5 years ago. Reduced fuel consumption fuel will benefit your hip pocket and the environment alike.
Better Safety Features
Just as engine technology is forever advancing, so too is our understanding of car safety. Side curtain airbags, adaptive cruise control, parking sensors and brake assist are just a few of the features now available in various new cars to ensure that you and your family are kept safe.
New Car Warranty
Most new cars sold in Australia come with free dealership servicing and a new car warranty for at least twelve months. This means that, in the short term at least, you are unlikely to incur any major expenses on unexpected repairs.
Customisation
From cup holders to turbo engines, new cars offer a wide selection of optional features. Cost permitting, you won’t have to compromise or settle for a car that ticks nine out of ten boxes: you can customise a car that precisely suits you.
It’s new.
You are the first person to own the vehicle, meaning that you have peace of mind regarding the vehicle history and functionality. There are no problems glazed over by the previous owner and no one else’s forgotten sock to ruin that new car smell.
Advantages of a Used Car
Price and Value
Used cars inevitably come with a cheaper price tag than new cars.
But another money point often overlooked is that new cars depreciate faster than used cars: in the first year of owning a new car, it is likely to lose between 30% and 40% of its value.
For this reason, buying a used car is often a smarter fiscal decision if you envision reselling the car down the track.
Since new cars depreciate quickly, you will often be able to buy a late model used vehicle in good condition for half the cost of a new car.
Cut Out Dealer Fees
A new car must be bought from a dealership. This often means dealing with overbearing car salesmen insistent on up-selling. It also means outlaying extra money on dealership fees relating to preparation, shipping charges and even overpriced rust-proof paint.
When you buy a used car you have a choice between purchasing from a car yard or through private sellers, giving you greater flexibility and opportunity to negotiate price and inclusions.
Comparable Quality
Even though they have some kilometers clocked up, many used cars are still in good condition – it’s all about doing your homework before buying. Ensure that the logbook has been fully maintained and invest in a financial history check.
Regardless of how well you think you know the vehicle, it is always advisable to acquire a pre-purchase inspection from a qualified mechanic. They may confirm that the car is a good buy, giving you peace of mind. They may also point out a big problem that can help you to negotiate the price or pass it up altogether.
For every lemon on the market, there is also a quality used vehicle. Make sure you buy the right one.
Balance your budget with the benefits of new vs used to find a vehicle that is right for you.
