Should I Buy a New or Used Car

Some people simply refuse to purchase a used car while others are in the opposing camp. Both sides of the argument have validity and we will discuss the benefits and disadvantages of purchasing new and used vehicles.

If someone has the choice between buying a new or used vehicle they would obviously choose a new one. Some reasons people love to own a new vehicle is that "new car smell," or the fact they get to make the decision on up-to-date devices they want, or decide what color the vehicle will be. The main reason is that it is new; you are the initial owner of the vehicle. By purchasing a new vehicle you are pretty much guaranteed that there are no hidden problems that you need to worry about immediately, and you also have a warranty that will protect you from huge repair costs that might arise down the line. This warranty gives you a peace of mind that you do not necessarily get when purchasing a used vehicle. Another aspect that people desire and get when purchasing a new vehicle is controlling the maintenance of the vehicle. By being diligent with maintenance a vehicle can be in excellent shape if you want to keep it for an extended period of time.

The major drawback to buying a new vehicle is the price along with the costs that accompany purchasing a new vehicle. New car prices are simply higher because the vehicle is new. Also, insurance for your new vehicle will cost you more than it does for a used vehicle and there are also some licensing and registration costs that are added to a new vehicle price that are not present when buying a used vehicle. Another disadvantage of purchasing a new car is the fact that once you drive it off the lot its resale value can decrease by 20% in the first year.

A used vehicle buyer should use these disadvantages to buying a new car to their advantage. The used car value is very attractive to someone looking to save money on the vehicle's price. Purchasing a used car will save you money on operating expenses as well because they can be about 50% less than with a new vehicle. With this information a used car buyer can purchase a vehicle of his or her choice for less than the new car price or even purchase a higher-end used vehicle that they could not afford to buy new. An option to keep in mind is to purchase a used vehicle that is available off-lease. These vehicles are between 2-4 years old and are often like-new because of the required maintenance and mileage limits; plus they often still have the original warranty. This makes buying a used car even more attractive because it is giving you some peace of mind when purchasing it. In general, buying a used vehicle means that you will have more concerns regarding something going wrong with the vehicle. We have noted some options that reduce the uncertainties involved, however, purchasing a used car still has its risks.

Keep in mind that you should purchase a used car from a dealer unless you know the seller well so you have recourse in case something goes wrong. Also, remember to do a vehicle history report when purchasing a used vehicle so you know if there are major problems with the vehicle. All you need is the VIN and you can log onto a website like to get the report.

Whether purchasing a new or used vehicle you need to shop around, check insurance rates, negotiate a price, and find out how much you can get for a loan so you know going in what you can afford. After you are done you should be satisfied with your choice.

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