Different brands of cars available in the market today, have a variety of features to make them both safe and enjoyable. So, how do you see the wood from the trees and pick out your dream car?
We all dream of having one of the hottest new brands of cars, but not everyone has the income for this. Car loan offers seem tempting and naturally, you will also be confused about which car is the best buy.
It can be even more confusing browsing the internet with a multitude of options available to you.
The first dilemma, of course, is whether to buy a brand new car or to settle for a used car.
No one in their right mind would rush into such a big decision. To ease this predicament, we have listed out the advantages and disadvantages of both options, in order to enable you to make the right choice.
Benefits of buying a new car:
- Easy Financing: New cars always attract lower finance rates from banks and lending institutions, as the vehicle is new and its value has not depreciated.
However, it is always a good idea to study the deal offered to you carefully, as the cheapest cars may not necessarily be the best.
- Better Fuel Efficiency & Lower Emissions: With increasing fuel prices and emission laws getting stricter every day, fuel-efficient, and low-emission vehicles have become popular.
New cars bring better fuel efficiency and if you want it, more power. If making a positive contribution to the environment is your thing, the new car option is for you.
- Latest Gizmos: If you want your car to have the latest navigational equipment, multimedia panels or even a protective paint treatment, then buying a new car is the better option.
Benefits of buying a used car:
- Lower Price: Obviously, a used car is going to be easier on your bank balance. It also gives you the option to move up to a better model, in the years to come.
- Lower Insurance Rates: Used cars attract significantly lower rates of insurance, since it is an older vehicle. By comparing rates across insurers, you can save a lot of money.
- Certified Pre-Owned Cars: This is a wonderful option, as used cars are subjected to a thorough check and inspection schedule. Any part replacements or any wrinkles that need be ironed out are done before they hand over the vehicle to you and you get a near-new car in your garage.
Now that you have seen the positive side of both new and used cars, let’s give you a brief glimpse of their drawbacks:
Disadvantages of buying a new vehicle:
Depreciation of your new car occurs the moment you purchase it. Your “new” automobile may instantly devalue by 20% to 40% of the purchase price. Also, the cost of insuring a brand new vehicle is much higher than buying a used car.
Disadvantages of buying a used car:
Used cars may not have the latest features or gadgets. You also need to consider that there is a strong possibility of higher maintenance costs than that of a new vehicle, so compare the pros and cons of both.
Be sure to check your car’s history or better – get a qualified mechanic to check out the used car before purchase. This will ensure that you are buying an automobile that will meet your expectations.
There are many online tools you can use to construct your dream car. There are also a number of tips that you can find online that will aid you in your decision.
The following strategies will help you to find the best buy:
- A test drive is mandatory: Taking the car out on the highway and local roads is absolutely essential, as you will get a first-hand feel of the vehicle’s response and performance.
- Take a few sharp turns to gauge its reaction and also indulge in a stop and go sequence.
- Keep a lookout for unusual noises and vibrations under the bonnet and also check if the electronics are in proper working condition. A test drive is a must if you want to get a clear picture of the car and its performance.
- Check the exteriors & the interiors: The value of the car will depend a lot on the outer and inner condition. If it has been used in rough weather conditions, this will show on the exterior of the car. The interior upholstery will play a major role in how you feel while driving it. The repairs, a paint job or an interior overhaul, should not deter you from buying the car, but you should ensure that a professional job has been done.
- Open up the hood and look for dirt and rust. The condition of the engine and other parts of used car will tell you how much work in this area can be required in the near future.
- Check for leaks: After taking it out for a ride, park it on a clean portion of the road and let the engine run for a few minutes. After this, pull it away and check for any leakages on the parked spot. Ensure that the weather is fine and it isn’t raining or you won’t be able to carry out this step. A leak indicates an upcoming repair.
- Research the car model in advance: Google the car’s make and model to find out if it has faced any persistent problems since its launch in the market. Consumer reviews will guide you and help you to make the best buy.
- Inspection from a professional: It always makes sense to get the vehicle inspected by a professional mechanic or a knowledgeable car enthusiast. You may miss out on certain points but a car mechanic will know what to look for and where. This will save you a lot of money in the future.
- Have an idea about price: Although the vehicle price will vary depending on the condition of the car, it is always advisable to stay updated with its value. You will know if you are being charged a fair price if you compare it online with the price of cars in similar condition. Remember, you are not looking for accuracy so a ball-park figure should do.
- Check the certified pre-owned option: Certified used cars can be a better option, as the dealers will check for any accident it may have been through and also give it a complete overhaul. You may also get an extended warranty which is never a bad thing. This could be a great option.
- Vehicle History: In the case of used cars, professional dealers can offer comprehensive reports for the automobile of your choice, so that you stay aware of the vehicle’s condition, any accidents the car has gone through and the number of owners and services performed by authorized dealers.
Whether you decide to buy a used or new vehicle, remember to keep in mind the advantages and disadvantages listed out in this article, for the best chance of buying your dream car.
