When you are planning to buy a car, especially if you know the kind(s) of model and make you are looking to get, you may be wondering whether you should get a new or used version of it, and that is a valid concern. That’s why this article will break down the advantages and disadvantages of buying a new or used car and give you pointers on how to determine which one is best between the two.

First, Don’t Be Afraid To Ask.

Do your research. Start your car search by asking other drivers about their cars–especially first time buyers. Find out how much the costs were, whether they bought a new or second-hand car, and driving and maintenance. Here you will get real results from real people and not those many sales pitches trying to convince you to choose them. So, ask your friends and family members with cars, take advantage of social media and be a sponge for all the information that will be dropped.

Let’s Take A Look At The New New

New cars are exciting to buy. They are a fresh start and have little to no complications. Building anticipation while your new car is being completed or delivered will only heighten the pleasure when you finally get behind the wheel, enjoying that new-car smell and the tight operation of every control. Add to that the peace of mind that comes with a fresh warranty and service/maintenance plan, and your first few months on the road will undoubtedly leave you feeling satisfied. If you have saved up for a deposit, getting a new car may be easy with a large deposit and vehicle finance from financial service providers like WesBank to help you secure ownership of your four-wheeled baby.

The No-Nos Of New New

While buying a new car can be exciting because it is fresh from the dealership, it can be a bit pricey. There is also the fact that added features may increase the price of the car even more; plus, remember your car’s value decreases immediately as you drive off the dealership. A new car also means the dealership may sell you the latest version of that car, which may dent your pocket. A pro-tip would be to take a look at the car you want and decide whether the new or second-hand version is more beneficial to you.

Is Second Time Around Better?

Many people in South Africa generally buy second-hand cars in large numbers because reputable used car dealerships offer a range of options on different car models and make that will have your heart and wallet jumping for joy. You could also maximise your savings and bring down your instalments by choosing a second-hand version of the car you could actually have afforded to buy new. That thousand bucks saved every month because buying a second-hand car for a lower purchase price could be enough to pay for insurance and an add-on service plan or warranty.

And When Second Time Around Isn’t?

While buying a second-hand car may save you money, there are some disadvantages to that. Let’s take a look at a few:
  • Your car is not made to order: you are not going to be able to pick your colour and modification beforehand, and these responsibilities rest on you after you’ve bought it.
  • Little to no warranty: Used cars are often sold as-is, making it the new owner's responsibility to fix them.
  • Old-ish technology: Some used cars may not have the new Bluetooth and wifi features unless you are buying a used latest car.
  • May be high maintenance: Depending on the car, you may be looking at servicing and parts from the car brand itself, and that can be costly as some parts become difficult to obtain as the year progresses.

Making The Choice

To get the best out of whichever car you choose between new and second-hand, you need to have a clear or almost clear vision of the cost of maintaining that car. It is highly recommended that you get vehicle insurance, and that should be one of the funds you add to your estimated monthly car expenses. Consider fuel prices, maintenance and service too, and you will have an idea of how much you’ll need to cough up monthly for you and your baby to continue enjoying the open roads. So, look at the car you have been eyeing, visit a financial service provider and calculate how many vehicles or graduate finance you’ll qualify for in order to buy your car. This will also give you an overview of how much your repayments will be monthly, and you can add this amount to your list of expenses so that you know what to expect.

Final Words

When it comes to choosing your next set of wheels, give it a think and shop around in both new and used car options. You never know the treasures you will find. There are many financial service providers in South Africa who are ready to help you get the financial boost you need to make your road trip dreams come true.