Having a car is a must for most families. Whether it’s the morning commute to work, dropping the kids off at school or doing the weekly shop, having a car of your own just makes everything easier.
If you’re thinking about buying a car, or you’re thinking about swapping your car for a different one, it can be hard to decide what to go for. Do you go for a used car or a new car? A new car would seem to be the best choice, but surely there are downsides to buying a new car?
Here are the advantages and disadvantages to buying a new car
New cars are greener
New cars are better for the environment as they tend to be more fuel-efficient and have lower emission levels, without losing any of their power. There are more hybrid and electric cars than ever before, meaning that it is easier than ever to choose an environmentally friendly car.
New cars come with more deals
If you buy a new car from a dealership, you’re likely to find a good offer or deal. With the amount of competition in the motor industry, dealerships are constantly striving to offer customers fantastic deals to sell their cars, so take advantage of it!
You can spread the cost with a car loan
Car finance means buyers can spread the cost of their new car over a period of months up to seven years; lowering the monthly repayments and making a new car much more affordable.
Getting a car loan means that you won’t have to spend time-saving up cash and you can add the payments onto your monthly bills budget.
New cars come with the latest technology
A new car will come with all the latest gizmos, so if you want the chance to use the latest in-car technology, a used car will not cut it. New cars will also come with all of the most recent safety features, and will therefore technically be safer than a used car, which may not meet current safety requirements.
Cheaper to run
New cars are cheaper to run as along with being more fuel-efficient, they are much less likely to require trips to the garage for repairs than used cars as all of their parts are brand new. If you buy a new car you are much less likely to find yourself needing to replace parts six months down the line.
New cars are more reliable
New cars are more reliable as they are starting with zero miles on the clock, so you are less likely to suffer a breakdown than if you were to drive a used car with thousands of miles already on the clock.
Let’s face it, no matter how you look at it; the cost of a new car far outweighs the cost of a used car. Some people simply do not have the budget to buy a new car or do not want to commit to monthly repayments.
Some buyers will struggle to obtain car finance
Some buyers will struggle to obtain car finance if they have a low credit score or have a bad credit history. It does not mean getting a car loan is impossible, though, as there are certain companies such as Clearway car Finance who provide loans to those with bad credit, looking at your overall circumstances rather than your credit report to help you finance a new car.
A new car will lose a considerable percentage of its value as soon as it is driven out of the dealership, but as all cars depreciate this is unavoidable. Accidents, bumps and scratches will also decrease the value of your car as time goes on.
Insurance rates on new cars can be more expensive than used cars though this does depend on the type of car. If you do some research beforehand, you can ensure you buy a car that doesn’t have a high insurance rate so you don’t get a nasty surprise later on!
What do you think; would you buy a new car?
A collaborative post