The car is probably the next most prized possession after a house. Since a considerable investment is made, it becomes imperative to take a wiser decision to either buy a new one or go in for a used car, depending upon your circumstances and use. If you are a car lover, then with limited funds you would instead go in for a used Honda instead of compromising with a basic model of any economy car. Hence it all depends on your personal choice. Thankfully with the internet revolution, now you can find a lot of online assistance and reviews from www.telegraph.co.uk/cars/a-z/ to help you decide the best.
Most of us might picture a used car as a worn-out vehicle with chipping off paint and rusted rims. But we are wrongly mistaken. The second-hand car market is equally commercialized and competitive, and you may find certified vehicles, renowned brands and variety of color choices in the best of conditions.
So, if you intend to go for a used car, here are few benefit based on specific parameters which may help you make the comparison and take a call.
1. Pricing and depreciation factor: Price is the most important factor while buying a car. You may have a defined budget for purchasing a vehicle, and it is rare that you get the vehicle of your choice with the desired features and color at the desired price. Then the call to be taken is either compromise on price, features or to go in for a second-hand car of your favorite brand and model within your budget.
Another prominent factor is depreciation. As soon as a new car is booked, 20% of the value vanishes. Further, within the first year of driving it also depreciates up to 10%. Therefore, if you’re going in for a used car, you would save on your bank account.
2. The condition of the vehicle: Another deciding factor is the condition of the car. Nothing can beat the freshness of a new car and the satisfaction that you are the first one to drive it on the road. But if you opt for a certified pre-owned vehicle as an alternative to a used car, you can get a better deal regarding the minimal wear and tear, get manufacturer’s extended warranty also. Each vehicle is thoroughly examined, and you are provided with detailed information on vehicle history report. Therefore, you may not feel cheated going in for a second-hand car.
3. Lower annual fee and no hidden fee: In case of a new car, the yearly registration fee is based on the car value and model year. It is usually higher the first three years and then levels off. This cost is saved in case of a used car. Apart from the actual price, there are many hidden fees like shipping charges, destination fee, dealer fee in case of a new car which may add up to the price.
Therefore, considering to buy a used vehicle is a good option in case you have limited funds and desire to own a classic model with best features.Read More