You need a new car, but you can't decide if you should get a brand new vehicle or a pre-owned car.
Whether you need a daily driver or a second car for the family, it’s best not to dismiss one option for the other without objectively comparing these.
Weighing the pros and cons
Is a brand new car better than a pre-owned vehicle? Not necessarily. The answer will depend on a few critical factors, not just the price tag.
In order to find the answer that best fits your unique circumstance, you need to look into these different factors.
Opt for a brand new car if:
You'll be securing a car loan
Unless you have saved enough money for an outright purchase, you are more likely to apply for a car loan to buy your vehicle of choice. Getting a car loan allows you to divide the payment into smaller chunks, enabling you to manage your expenditure better.
Broadly speaking, the interest rates for car loans to be used for buying new cars are lower than those to be used to purchase second handsecondhand vehicles.
You need a new car immediately
Generally speaking, the process of purchasing a brand new vehicle can be completed more quickly. Once you have decided which car model to buy, you can go to the dealership and arrange for the purchase of that car.
With used vehicles, you have to take great care to ensure that each car in your prospective list is in good running condition. Unless you have the training and experience, you will need to subject each option to a stringent inspection done by a qualified professional.
You don't want to deal with frequent repairs
Used cars, generally speaking, tend to break down more frequently. As such, if you wish to forgo the hassles involved, you'll fare better with a brand new car.
You're in for the long haul
One major issue with buying a new car is that it depreciates at a rapid rate. However, if you intend to keep your vehicle for the long term without the intent to resell it in the near future, buying a new car is the better option.
Buy a secondhand car if:
Your budget is limited
If price is a significant issue for you, a secondhand car is downright the better option. The value of a new vehicle can nosedive by anywhere between 10 and 70 percent. This depends heavily on factors like age and mileage.
You're paying cash
If you are planning to pay for a vehicle in cash, you can skip the process of securing a car loan and paying for monthly amortization and interest rates by going for a used car.
Your choice is out of production
If you are eyeing a model that has been discontinued, there is no other recourse but to look at the secondhand market.
You are not planning on holding on to the car for long
If you are thinking of getting a vehicle only to resell it in the near future, your best bet would be to get a used car.
Compared to their new counterparts, used cars depreciate at a slower rate. When you buy a used vehicle, much of the depreciation has been shouldered by the first owner. And when it's time to sell, the depreciation will be comparatively lower, and in some cases, higher than the price you bought the car for.
You're aware of the pros and cons of the particular model
Often, when you buy a model that has been recently released into the market, you might not be fully aware of its issues.
But when you choose a used vehicle, you have plenty of resources to draw upon, from reviews to personal anecdotes. This allows you to make an informed choice about that specific model.
Bridging the gap
Certified pre-owned (CPO) vehicles are another option that you might want to look into apart from used and new cars as they bridge the gap between the two.
Unlike used cars sold privately by individuals, CPO cars have been carefully selected by manufacturers based on mileage and age. This allows you to get peace of mind knowing that you are investing in a car that has been thoroughly inspected by qualified professionals before being put into the market. Apart from that, CPO cars come with a warranty for repairs within a specific timeframe.
Typically, the cars sold as CPO are late-model cars, or vehicles which have been recent;y manufactured.
Making the choice
Upon seeing the pros and cons of each available option, you will know that one is not necessarily better than the other. In order to arrive at the right decision, you have to look at each of the factors mentioned above objectively before you settle for a final choice that suits your specific needs.
Owning a car is a fundamental necessity today. Buying a new or certified pre-owned car in Dubai enables you to save time on your daily commute and allows you to enjoy the convenience of travel.
However, owning a car comes at a cost. Vehicle maintenance, repairs, and other miscellaneous costs such as parking fees can quickly add up. Still, the main cost associated with car ownership is the price of gas.
As such, improving gas mileage is a top priority for most car owners.
Regardless of whether you want to improve your fuel economy to save money at the pump or to minimize your environmental impact, here are four crucial tips to ensure you use every last drop of fuel in your tank.
Perform scheduled maintenance
Keeping your vehicle in great working condition will ensure that it is ready at a moment’s notice, significantly extend the vehicle’s lifespan, and maintain safer operations. Vehicle maintenance neglect can result in catastrophic failure at a critical moment. This, in turn, can lead to a serious traffic accident.
Performing vehicle maintenance on a regular schedule will also extend the utility of your car’s fuel economy. Simply having a properly tuned engine can improve your gas mileage by as much as 40 percent.
Want to cut back on your monthly gas expenses and increase gas mileage? Focus on the following vehicle maintenance tips:
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