Buying a Brand New Car VS Second Hand

Buying a new car can be a tricky process as there are so many different things to consider. What’s your budget? What type of cars are you interested in? What are the most reliable cars? How can you get the best value for money? Should you buy brand new or second hand? The questions are never ending, even if you have something very specific in mind, there are still lots of things to think about to ensure that you are making the right decision. Furthermore, this will also vary depending on your position. For example, if you are buying your first car, you may not necessarily have a huge budget, nor would you be looking for something brand new. 

One thing that does take a lot of consideration when it comes to car shopping, is whether to buy something brand new, or to get a secondhand car. There are of course pros and cons to both of these, but it all comes down to what matters most to you. We thought we’d talk about some of the good and the not so good points of both…

 

It depends on your financial position

Buying brand new and buying second hand can have a pretty significant financial difference. Again, this would come down to your own financial position and what sort of budget you are looking for. Even if your budget isn’t huge, you may still be able to afford something new. However this could be the difference between buying a better and more valuable car second hand, or buying a brand new car that isn’t worth as much on the market or hasn’t got as many good qualities and things to offer. You must weigh up each of these options, and again this would come down to what matters most to you: having a brand new car, or having a better make and model.

If you have a small budget, the better option would be to buy a second hand car. Brand new cars are obviously a lot more costly, and you may not be in a position to pay for this, as well as all the additional expenses that inevitably come with it, such as insurance and repairs. On the other hand, if you’ve set a larger budget and are looking for something modern and impressive, owning a brand new car is fantastic. With it being brand new and you being the first owner, this also means that it will be very valuable when you go on to sell it in the future, and so this makes it quite a good investment. 

 

First time drivers

If you are a first time driver, your budget probably won’t be huge, and therefore buying a second hand car is most likely the better option for you. Not only this, but being new to driving essentially means that when owning your own first car and driving around in it, it is often still a learning process, and new drivers are more prone to accidents due to lack of experience. Therefore, if you were to have a brand new and valuable car and have any sort of accident in this, it would be very costly to repair and perhaps out of budget for you, not to mention the insurance. For first time drivers, insurance is always sky high, but with a new and expensive car it would of course be even higher. Driving a second hand car comes with much lower costs, be this insurance, maintenance, or repairs. 

 

Thinking of the environment

As we know, emissions from cars are very harmful to our environment, which is why new and modern cars are actually built and designed to be a little more eco-friendly. There are of course electric cars available now in order to reduce emissions, but even normal cars are now made to be kinder to the environment. So, if this is something you are passionate about and you want to help make a small difference, buying a brand new car is certainly more environmentally friendly. 

 

The reliability of the car

When buying a car second hand, there can sometimes be a history with it, whereby it is no longer as reliable as it once was. For example, the car may have been involved in accidents with the previous owner, or it may have a lot of mileage on it already if it has been used excessively. Generally, if you buy a brand new car, it is more safe and reliable as none of these risks come with it. Being the first owner ensures that there is no risky history of the vehicle. However, when buying a second hand car, you can always find out all of these details, so before buying you know things like the history of it and the mileage and if there are any faults or damage. 

 

Buying upfront VS paying finance

The financial position you are in could also determine whether you are looking to buy a car upfront and pay for it all in one go, or pay on finance so you cover the cost of it monthly. Generally, with second hand cars they are a bit older so you can buy them upfront. This may be appealing to you if you want the peace of mind that the car is all paid for rather than paying it over several years on finance. On the other hand, if you don’t have the money to pay for a car upfront, new cars often come with lots of different finance options, so you can choose what works best for you. 

 

Additional costs

When buying a car, there are various other additional costs to consider. This includes things like insurance, repairs, fueling the car, and more. It is one thing to decide whether you want a brand new or second hand car and the budget you have for this, but you also need to consider what else it is going to cost you to run it. For example, some cars burn a lot more fuel and a lot more quickly than others, so if you had a car like this it would cost you more in fuel. Furthermore, more expensive types of cars will be more costly to repair, for example if there are any parts that need replacing, and you will often find that these take longer to arrive for more expensive cars. Finally, insurance. It goes without saying that brand new cars are more expensive to insure than second hand, so this is also something you must think about before making your decision.

By |2019-08-13T00:36:57+00:00August 13th, 2019|Post|