As we set out to buy a car one of the first questions we ask ourselves is should we opt for a New or used/preowned car? With hundreds of new models in the market, and more used cars than there are people to drive them, there are plenty of good vehicles out there ready for an owner and driver.
In the end, it all comes down to what you can afford and will it give you peace of mind?
Well it's very simple, if you're strapped for money, then buying a used car gets you the most vehicle for the least amount of money. You can count on one hand the number of new cars that list for less than 3-5 lakhs. And despite paying that amount all you are likely to get is a tiny car which is certainly bound to be a manual transmission rather than automatic, no air conditioning, a lack of safety features and few other common amenities.
Well it's very simple, if you're strapped for money, then buying a used car gets you the most vehicle for the least amount of money. You can count on one hand the number of new cars that list for less than 3-5 lakhs. And despite paying that amount all you are likely to get is a tiny car which is certainly bound to be a manual transmission rather than automatic, no air conditioning, a lack of safety features and few other common amenities.
However, for less than half the price of the average new car, you can buy a fairly less old used vehicle that is larger and loaded with more features than the small, bare-bones new one. Whilst you may worry about your used vehicle requiring maintenance which are possibly expensive there are many company's these days that provide you with certified cars with warranty on most.
The Advantages of Buying a Preowned Car
- increased choice: Both new and used-car dealers are feeling the side effects of a tough economy. The positive side of this is that consumers win in a bear market; as dealerships close prices of large, used SUVs and even midsized cars are down, and there should be more vehicles on lots due to slowing sales.
- improving reliability: Although used vehicles typically don't carry the same warranties as new ones, the original factory warranty on a new car is transferable to a second owner, usually at no charge. Buyers of certified pre-owned cars from an authorized dealer can purchase a late-model used car with the original warranty and then choose to add to it. The combination of a glut of late-model used vehicles, the greater reliability and durability of vehicles, and the availability of warranties make buying a used car less of a gamble.
- just like new: Another trend that makes buying used a better option is the proliferation of certified pre-owned programs. The idea started with luxury brands such as Lexus and Mercedes-Benz and has become a popular alternative for car buyers.
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