No matter how reliable your car might be, it will eventually give out and you will be left with the daunting task of getting another car. New car adverts are almost always screaming in your ears regardless of whether you are on the street or in the middle of watching your favorite show. However, is it a wiser decision to buy a brand new car or is it better to go for a used car? Let us look at the benefits and setbacks of both and hopefully you can decide on the best option based on a combination of factors.
Buying a spanking new car
Nobody can deny that a new car is a status symbol and it might turn more than the average number of heads when you drive by in it. The shiny paintjob and pristine condition makes new cars stand out from the rest. Aesthetics aside, let us look at other positive aspects of new cars.
A new car is very reliable and in the rare event that it breaks down, it is probably covered by a manufacturer’s warranty. You also don’t have to constantly wonder how the previous owner treated the car because you are the first person to use it.
There are also many new cars that come with roadside assistance. This might sound petty but it would not be the case when you have to pay for roadside assistance from your pocket. Towing expenses are also mitigated by having free roadside assistance with a new car.
New cars are very fuel efficient because they have the latest and greatest technologies for fuel economy. The safety features of a brand new car are almost guaranteed to be beefed up compared to an old car.
There are also negative aspects of new cars. For instance, new cars are significantly more expensive than used ones. Insuring a new car is also more expensive than an old car because the replacement value is obviously higher.
How about a used car?
One of the areas in which new cars can’t go anywhere close to used ones is the price. By buying a used car you can be sure that you are getting the best car for your money. A late-model car can cost you less than half of the newest model. There is also the issue of drivetrain warranties. These warranties cover the most expensive parts of vehicles. Some companies offer these warranties for a mileage of up to 200,000 miles. You would have to do a lot of driving to reach this mileage. Dealerships often transfer these warranties for old cars to buyers if they are not already expired. You can also purchase an extended warranty for the car from a dealer.
Old cars also have their setbacks. One of the biggest problems is stigma related to their reliability. Buyers of used cars have no idea what the cars have been through and therefore find it hard to trust them. It is also difficult to find a used car with the exact features that you are looking for. You just have to be prepared to make some compromises here and there.