Buying a car is a major decision. Along with the thought of buying a car comes new questions – Should I buy a new car or a second-hand one? Should I care more about the mileage or the pollution caused? And so forth. But, buying a car should not be that hard of a decision if you are well-informed and do your research on this site that provides comprehensive details about various cars and know what you are looking for.
Below is a list of 9 reasons why buying a new car over a used one might be more profitable than you think!
1. Buying a new car comes with a warranty
Unlike a used car which is often past its warranty time, a new car comes with a fresh warranty. This means that in case of vehicle malfunction, you can get a part replacement and free service from the car company. As with a second-hand car, you have to pay individually each time you go for car servicing and can avail no such warranty.
2. New cars are endowed with the latest technology
New cars come with new and latest technologies. This way, when buying a new car, you can be sure to get higher mileage, better interior features and lower emissions. This is not always the case with a used car which is often of an older model.
3. New cars are better for the environment
Running an older car is a resource-consuming task. Not only do older cars require more fuel than newer cars, but they also need frequent repairs, which add to their environmental cost. Whereas, newer cars with higher mileage are better in the sense that it consumes less fuel thus causing less combustion. These days you can also look for options of buying an electric car which is much better for the environment than cars using fossil fuel.
4. Used cars are less reliable than newer ones
You can not be sure of the complete history of a used car. There can be cases where one might buy a second-hand car and later discover that the vehicle does not have genuine parts or is not as functional as the previous owner claimed it to be. This is one of the many reasons why people abstain from buying used cars.
On the other hand, a new car is reliable and comes with a warranty that allows you to get your car repaired for free in case of any functional problem with it.
5. Used cars may need to be repaired much frequently
Old isn’t always gold. As for cars, this is certainly not the case. Used cars have been on the road for a longer period before it is bought, this results in normal wear and tear of the vehicle over a period of time, which can be worse if the car is not taken care of by the previous owner.
Thus, second-hand cars are more prone to lose functionality often. This results in the requirement for frequent oil changes, filter replacements or parts replacement in used cars.
6. You have more options when buying a new car
One primary reason why people choose to buy new cars is due to the large number of choices one has while purchasing it. As there are so many options in the market, you can get a car which is suited solely to your preferences, be it a color preference, features you need, the type of interior and technologies you are looking for, etc. You can ask and look for these features at the time of buying a new car.
On the other hand, the scope of choices with respect to used cars is limited as not every car model in the market is up for sale in a second-hand market.
7. Buying a new car is easier and faster
Looking for a used car that matches your preferences and requirements is a time-consuming process. And, even if you find a car model that you like, it is not always in the best condition. Thus, it takes a more extended amount of time and consideration before you can decide on buying a second-hand car.
As for new cars, they can be easily bought from car dealers and showrooms, that too, according to your needs.
8. The interest rate on loans for buying a used car is higher than for buying a new car
Banks provide loans for new cars at a comparatively lower interest rate as compared to loans for used cars. This is because used cars generally come with a higher risk, no warranty and little is known about their history. This results in the interest rate of loans for older cars being higher by about 3-7% than that for the loans for new cars.
9. Buying a new car is much more profitable in the long run
Even though the initial cost of buying a new car is higher than an older and used model but if you look at it from a long-term perspective, then new cars take the cake in being cost-effective.
Newer cars offer better mileage, thus resulting in less expenditure on fuel. It also does not need servicing as often as a used car and has a longer life compared to a car that has been previously owned by someone. This makes it a better option from a financial point of view.
These are the main reasons why you should look forward to buying a new car rather than a used one. Newer cars have better technology, longer functional life, are much better for the environment as compared to a used car, and are more tailored to your needs. On the other hand, used cars add up to high expenditure in the long run, come with no warranty, require frequent servicing, and you might have to compromise on their functionality.