Finding the right new car for your needs is a multifaceted decision. As part of this, in many cases, buying new can offer multiple perks. Still, there’s more to this decision than a simple yes or no answer; both new and second-hand vehicles can offer pros and cons. If this has left you feeling overwhelmed, don’t panic. Today’s brief guide covers the pros of new cars and the alternatives you could consider helping.
Should I Buy a “Fresh From the Factory” Car?
Your next car purchase is not always a straightforward choice. Indeed, while new cars offer several valuable advantages, knowing the negatives is also vital.
A Brief Look At The Benefits of Buying New
New cars are popular for many people, and as far as bragging rights go, few alternatives offer the same experience. Let’s face it: there’s something truly empowering about driving around in a car emblazoned with a new plate (and other road users will often take note of this). However, your public appearance isn’t the only benefit of buying a new car.
Of course, recently made cars typically have state-of-the-art systems and technology; as such, if you love the latest tech innovations, a new car will likely be a must for you. Moreover, when a car’s fresh off the production line, you know it won’t have any surprising history behind it.
When Second-Hand Cars Might be a Better Investment
Brand-new cars are undoubtedly popular, and one of the most notable benefits must be their state-of-the-art tech and guaranteed history. Nonetheless, they don’t necessarily come cheap. As a result, if you’re looking to buy a new vehicle, considering second-hand may not be a bad idea.
Indeed, one of the major pitfalls of buying a new car is that depreciation will often slash a huge amount of the vehicle’s value in a matter of years. In fact, estimates suggest that, by year four, most cars will have depreciated by over half. What this means is that if you bought a new car with a price tag of £20,000, it would likely sell for less than £10,000 only four years later. Ouch – that’s a depreciation of £2,500 or more per year.
In accordance with this, buying a used car allows you to skip this initial depreciation. Thus, this could make your investment in a used car more secure. This also makes it much easier to afford the vehicle compared to buying a factory-fresh model, which are cost-prohibitive for many people.
Additionally, while most people consider a car with history to be a bad thing, that’s not always true. In reality, if the car had a previous owner, you could ensure the vehicle doesn’t have severe manufacturing faults; these will usually have been noticed by the original owner(s).
Fortunately, if you’re concerned about whether a used car might have baggage, running a car check can help. These checks highlight factors such as mileage data, past MOT history, stolen and write-off status, and more, helping you make an informed decision regarding your car purchase.
