Whether it is time to turn in your old vehicle for something different or you have decided to purchase your very first car, one of the very first things you should consider is whether to buy a new or used car. There are a ton of benefit that come with either option, making it a hard choice for many individuals to make. Simplify things by asking yourself the following questions:
Depreciation is a concern for many people. It is true that the moment you drive a new car off the lot it drops in value by a significant amount. In some cases, drivers have found out that their vehicle loan exceeds the market value of the car after just a few weeks of driving it. If this is a concern to you, a used car may be preferable. These cars depreciate much slower than new ones. You also need to think about emotional depreciation – are you going to panic if the car receives its first scratch? If so, a used car might be better suited to you, since they have already received many scratches throughout their lives.
What Kind of Car Do I Want?
You also need to ask yourself about the specific type of car you want, as well as the features the car needs to have. In some cases, you may only be able to find a car that meets all of those need that was pre-owned. There are many recent models that have updated technology and other desired features, such as power windows or an infotainment system. On the other hand, if you want more sophisticated tools, such as a backup camera or WiFi connectivity, you should focus on new vehicles.
What is My Budget?
Finally, you need to ask yourself an honest question about your budget. Not only do you need to take the total cost in consideration, you also need to factor in insurance, gas, and maintenance fees. Breaking this down into a monthly amount can help you find a car that is perfect for your needs and is not going to break the bank.
The answers to the above questions can help you decide if you should get a new or used car, based on the things that matter to the majority of car buyer. Remember to always go with your gut when buying a car; if you don’t think you are going to love it in two months keep looking You need a car that you adore and that also suits your needs.