Comparing New and Used Cars

When buying a car either for personal, family, or business use, there may be situations where you may have to consider whether it will be wiser to buy a used car or a new one. It wouldn't be a hard decision if the car to be purchased will be crash and burn, like with what we've seen on films like Fast and Furious. To my mind, choosing used cars is the more production cost-effective option.

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Of course, the use of new cars to smash in films for the sake of authenticity is not totally unheard of. Let's veer the discussion for now from cars used in films to real life. If given the choice, will it be a new or used car for you?

New vs Used Cars

Curb Appeal

New cars expectedly fare better than used cars in this aspect. Nothing screams "status symbol" than having the latest car model in your garage. The smell and feel are fresh, the paint is shiny, and the accompanying latest automotive technology can be pure pleasure.

Used cars can still have its own physical appeal, as long as the previous owner did not neglect maintenance. Not all new car technology is needed for a satisfying drive anyway. Anything new usually adds to the cost of the car.

Reliability

New cars also have an edge over used cars in the reliability aspect. Should any concern comes up, there is the manufacturer's warranty. If the car actually becomes a lemon, then replacement is an option.

Buyers can go for certified pre-owned cars. They are more expensive than other used cars but still cheaper than new units. There is also the assurance that the car has been thoroughly inspected which is very important since there is no absolute way of knowing just exactly how the previous owner took care of the car.

Cost of Purchase

Used cars are far friendlier than new cars in terms of purchase. This is because taxes, insurance, and down payment tend to be lower. It follows that monthly payments are lower. 

Consider using a Car Payment Calculator to have a general idea of monthly payments when buying a car. I actually found one online where I got the chance to play games. Once buyers understand the financial obligations involved, it will be easier to arrive at a decision. 

Access to Reviews

Buyers can get more information to a car's performance from reviews. Because used cars have been in the market for some time, buyers get authentic reviews from actual users. This may be more difficult to obtain for new cars because of the lack of readily available information.

What buyers would see about new cars are marketing information about their features. The cost of depreciation and experience hits the original owners more than succeeding owners. The important thing is to know the critical information before buyers let go of their money.

So if you want to maximize your money's worth for a car purchase, make sure you take the time to consider the pros and cons of new and used cars. Frequent change of cars may be a luxury reserved for the rich or people like Dominic Toretto who live for street racing and heists, aside from family.