Buying a Car: Used or New?

The most common question that you will get from a person who is thinking about buying a car is whether they should go for one that is brand new or they should check out the used market. And it is a very sensible question, as there are some excellent offers on dodge car truck financing options these days. Many dealerships are making it a point to ensure they have a good selection of used cars available for their customers to check out. But should you go used or new? Here is our little guide on the matter:

Finding Value

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The key issue with buying a car is finding value. Sure, you are going to try and get a loan with a solid interest rate. If you have a good credit score, you get a very low interest rate. Anyone who is concerned about having a low credit score can look at options for boosting their credit score in the next few months.

But even if you are buying on credit, you would still rather invest a sensible amount of money in the car that you will be using for the next 8-12 years. And the fact is that you can get great value out of used cars, provided you are buying them intelligently.

Used – But Not Too Used

The issue with used cars is that when you are going for models that are very old, you are starting to lose out on value. Those who just want to get their hands on the cheapest used car that runs are not finding value. They are finding a temporary solution to their issue of not having any vehicle. But after a couple years, they will either have to spend a lot of money on repairs or another vehicle.

When you find value, you are investing in a used car that is only a few years old. These are the cars that are still in very good condition, have not been driven for 10,000+ miles, and have all the latest safety features that you could want. Buying a Honda or Toyota vehicle that is from 2014 is not much different to buying a 2018 model!

New Cars Are Tempting

There is no doubt that a temptation exists around new vehicles. When you are looking at cars around dealerships and you are seeing different models, it is easy to be taken aback by a new car. The smell that you breathe when you step inside and the feel of the controls that have barely been touched before is a wonderful feeling.

Those who are willing to spend a little more money to get a new car should understand they are paying a premium. So long as you are aware that you are paying 15 to 30 percent more than you would for a similarly specced used car, then you can go ahead with the purchase. But we still believe that anyone who wants the maximum value out of a car purchase should be going the lightly used route.

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