Owning a car is one of the achievements people hope for. With a car, you can easily move from point one place to another and do so comfortably. It is cheaper and convenient than public transport and individuals can use the vehicles as collateral for loans when they need cash for their personal or business needs. There is a lot that people can achieve with personal vehicles and this explains why people are obsessed with them. Acquiring a car, however, is not easy as there are a lot of things to consider. One of these things is deciding whether to buy a new car or a used one. There are advantages and disadvantages of each of these options and we will highlight them in detail so as to help individuals make the best decision when buying a car.
Buying a new car.
There are those who are fascinated with the smell of a new car and would hardly consider buying a used one. Well, this is one of the advantages of buying a new car in that you get to use it for the first time. It doesn’t have any funny smells and it comes with an unblemished history that only includes test drives at the dealer’s lot. New cars also come with a fully functioning warranty that will help individuals pay for repairs when the cars get damaged. This cost advantage is one of the things that individuals should consider when making the decision of whether to buy a new car or a used one since they will have to pay for the repairs and servicing when they buy used cars as most of them usually don’t have an active warranty.
New cars are also safer than old ones since their parts are still intact and functioning properly. They also come with the latest devices and software that aid in navigation and entertainment. These are some of the advantages of buying a new car but those who choose such cars will have to pay huge amounts to acquire them. They also depreciate in value very quickly and they lose about 40% of their value within the first year of use alone.
Buying a used car.
Vehicles depreciate in value very fast and this makes used cars in Ft Myers FL cheaper and much more affordable to the ordinary guy. The initial owner of the car shoulders the depreciation and those who come afterward don’t have to pay huge fees to acquire their dream cars. The only problem with used cars is that their warranty is usually expired and individuals will have to pay for repairs themselves. They will also have to search far and wide to find great deals and this is usually quite frustrating at times.
Given the chance to pick either a brand new car or a used one, most people would opt for a new car. However, when the financial angle is factored in, used cars are the best since cars start depreciating in value from the minute one they are bought and those who buy used cars end up paying less for them.