Should I buy a Used or New Car? Get the Answer from This Article
Are you in need of new wheels? When purchasing a vehicle, you need to make various decisions about the type of car you want. Apart from the model and make, one also has to decide whether they want a new or used vehicle.
Making this decision can be challenging at times. On the one hand, you think that a brand-new car is appealing. However, your know-it-all friend tells you that buying a used car is a smart move in the long run.
This leaves you wondering what the best choice to make is. This article will shed light on the glaring facts about new and used cars that you never knew. Without much to say, let’s get started.
New Cars vs. Used Cars
It is simply hard to ignore the praise that comes with a new car in the modern culture. The “oohs” and “aahs” when your friend sees them for the first time are magical. This is why everyone wants a new car.
However, buying a vehicle is usually more than that. Below, we have listed some facts about new cars that you need to know before buying one.
- They are Expensive
If you are thinking of a new car, be sure that the shiny paint and clean interior will cost you. In many cases, people opt to take a loan to finance the purchase of a new car. This makes them end up with a substantial financial burden that never goes away quickly.
- They Have no History
The best thing about a new car is that you do not have to worry about its past. The thought of how the car was treated before should not concern you. What’s more, new cars usually have lower mileage than used cars.
- You Have to Buy Them From a Dealer
Unlike used vehicles, new cars are sold only through franchised new car dealers. Therefore, getting a new car can be challenging if your area has no new car dealer store.
- Not New Forever
Most people usually forget that a new car will not be new for long. By the end of a year, that new car smell will be gone. Unfortunately, the only thing that does not go so fast is the monthly loan payments.
In the past, many people never wanted to buy used cars because of their unknown history, and rightfully so. The history of a used car can be dark at times. However, with the advancement in technology, learning about the history of a used car is much easier.
Nowadays, the internet is full of sites that give their customers a comprehensive vehicle history report. We will take you through one such site later on in the article. First, we have to provide you with some of the takeaways about used cars that you need to know.
- They are Much Cheaper
The cost of getting a used car can fit in a monthly budget. This is because used cars usually come at a much lower price than the new ones. This amounts to lower monthly payments, which eliminates the need for taking a loan.
- They Have a Better Resale Price
Depreciation is one of the unseen costs of owning a car. Cars usually drop in value over time. The value drops by about 20% for new vehicles immediately after driving them off the dealer’s lot.
On the other hand, used cars do not drop in value that much. This is because the previous owner usually takes much of the hit. So for a used car, you might resell it at the same price you bought it.
- It Can Be Compromising
With used cars, it can be hard to get one with the color or interior you want. You have to be flexible and patient when hunting for a used car. Be ready to compromise on certain features to get the one with better mileage and history.
- You Can Get a Better Car for your Money
As we have seen, used cars are cheap. Therefore, it is possible to find a better car than the one you could otherwise afford. This can mean getting a BMW instead of that Honda Civic.
How to Unearth the History of a Used Car
When it comes to a used car, do not let the throwaway price fool you. You have to be very careful when buying a car. You do not want to fall victim to unscrupulous sellers who will sell you a stolen vehicle.
It is therefore advisable to get all the information about the car by yourself. For this, you need a site like VinPit, which will give you a comprehensive vehicle history report in minutes. If you are in the United States, VinPit can help you learn all about the used car’s history right from your couch.
With a vast database of over 268 million registered vehicles, be sure to get a detailed understanding of the car. VinPit takes advantage of a vehicle’s essential aspects that identify it, the license plate, and the VIN. VinPit looks up the license plate against the state to which it has been registered to give you credible information. The same happens when you feed the VIN.
So if you are in Arizona, for instance, the Arizona license plate lookup will do the job for you. Some of the information you can get from a license plate lookup include:
- Knowing the accurate odometer readings and mileage.
- Finding unreported damage to the car.
- Finding whether the car has any accident records or has been involved in any theft cases.
- Be aware of any maintenance recalls that the car has gone through.
- Discover other crucial information about the car. This can range from the vehicle’s make, name, model, manufacturer, and many more.
Making the Decision
In the end, the question of whether to buy a new or used car solely depends on you. It all boils down to what you want and what you and your finances are comfortable with. Go for the vehicle that will leave you financially stable in the long run.
For instance, getting a loan to buy a new car can seem cheaper because the car requires no repairs. However, sooner or later, you will need to buy some spare parts. At this point, you will wish you went for the used car that you could afford without taking a loan.
Besides the financial aspect, make sure you get the most out of your money. If you are looking for a car with the latest features, it would be best to go for a newer car. Getting a car with a good reliability record is also crucial.
With a site like VinPit, this should not be much of a concern if you decide to get a used car. This is because the site will reveal any defects that you should know before committing the money.
In conclusion, new and used cars each have their pros and cons. It is your decision, therefore, to choose a comfortable option. You have to weigh the two options thoroughly to know which will work for you down the road.
With the information we have provided, we are confident that you can now make the right decision.