Cars. They’re such magnificent machines and they are a definite sign of how far we’ve come in terms of technological innovation. Buying a car is one of the most fulfilling sensations in adult life. It speaks well of how you’ve been able to amass and manage your finances.
And well, naturally, you’re going to want your hard-earned money to go to a worthwhile investment. Now, when you’re buying a car, there are two main types of ways that you can go about the procurement of your car. -- Either you buy your car brand new or you buy it used.
There are merits and pitfalls for both sides, so, to help you decide between these two, these are the factors that you need to consider before making a decision.
The worst enemy of any car owner, or any owner of any product for that matter, is depreciation. The devaluation of a product as soon as it is used. The rate at which products depreciate varies between product type.
But cars seem to be on the quicker end. Brand new cars are alright to buy if you can afford to pay for them in a single transaction. Just be sure to buy your car from a reputable dealership. A good example would be when you buy your car New from Gillingham Ford.
However, if you need to have your payment deferred, you’re going to end up paying more than the actual value of the car in the long run if you insist on buying a brand new car. On the other hand, used cars cost much less than brand new cars and are much more viable in deferred payments.
One advantage of buying a brand new car is that you’re almost always guaranteed to get a car that’s 100% functional. You won’t have to be wary of any hidden defects unlike when you buy used cars. Not only that but, if you’re going to buy a brand new car, you’re going to have peace of mind in the fact that you’re definitely going to be covered by a warranty.
Another advantage with buying a car brand new is that you’re able to keep track of its maintenance. You’re able to know what parts of your car need special care. While used cars do come with maintenance records, you can’t entirely be sure about how the cars were maintained because each driver has a different manner of driving. Some are rough with their car while others are extra careful.
Depending on how old your used car is going to be, technology may or not be a big factor here. If the used car you intend to buy was built in the past 10 years, then you’re likely to get most of the same features that you would find in a brand new car. This, however, becomes a real factor if you’re buying a much older car, in which case, you might be better off opting for the newer alternative.