Buying new car vs used car: Benefits and drawbacks

May 5, 2011
Views : 41084
2 min read

While the great feel and overall pleasure of driving a brand new car is undeniable, it almost always makes more financial sense to buy a used car. But is that the right choice for you? To clear your doubts and get you a fare idea, we bring you the benefits and drawbacks of buying a new and a used car for both have their own bits to play.

Benefits of buying a new car

• The first and the foremost benefit of buying a new car is in being the first owner of the car, which helps you keep a distance with its shady past, frequent visits to the garage and all other mechanical and paper hassles.

• A new vehicle won’t need maintenance for the first several thousand miles, and then only an oil change and tuneup are required, leaving you with low maintenance cost and ample amount of peace.

• With manufacturer warranties available till three extended years, if something goes wrong it becomes the responsibility of the dealer and manufacturer to fix it.

• In addition to a comprehensive warranty, all major carmakers offer free roadside assistance on just a call.

• Above all, the new car comes packed with the latest gadgets, accessories and equipments.

Drawback

• The cost at which you are buying is much higher than what you will pay for a used car. Also the moment the car comes out of the showroom, it gets deprecated atleast 20-30 per cent.

Benefits of buying a used car

• Buying a used car is beneficial especially in cases where you dream for luxury cars but can’t afford them otherwise. So here is a chance when you can get your dream car at half the price rather at the price which you were paying for a new car.

• Although used vehicles typically don’t carry the same warranties as the new ones, but the original factory warranty on a new car is transferable to a second owner, that to at no charge. So you get that extended benefit too!

• The depreciation value of the car remains considerably less than a new one retaining the original value when you plan to resale the car.

• For a used car you also pay marginally less amount on insurance too.

Drawback

• The designs, specifications and features, accessories and added gadgets are all missing from a used car.

• Previous accidents and any other legal issues all come packaged with the used car.

• While you are on a saving mode on all fronts, maintaining a used car can squeeze all your money out from the pocket.

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