Why Buying a Used Car is a Better Move

I have been weighing things out on what is a better move - to buy a new car or get a used one? As we all know there are a lot of promos lately about getting a new car in the cheapest or most affordable price possible. There is even a reported surge in the sale of brand new cars given its looming price increase due to the expected imposition of excise tax.

But, is buying a new car a sensible idea? I think it is a better move to get a used car despite the promos and the expected price increase of cars. After making a more deeper analysis of the pros and cons between buying a brand new or simply settling for a used car, I can say that buying a used vehicle is a sounder strategic move in the midst of the present economic situation.

Depreciation - once you drive that shiny new car out of the driveway, a whopping twenty percent (20%) of its value goes out of the drain. Take some time to compute, if the car you bought costs around 800k, the moment you take that car out, 160k of your money is lost. Imagine 160k of your hard earned money is lost due to depreciation! If you get that shiny brand new car on installment, add up the interest for the next three or five years and you can figure out the amount of money you lose due to depreciation. Consider, a car is not an investment contrary to what the salesman wants us to believe. It is not even an asset. With this mind, it is a better strategic move to get a used car that is around three (3) years old to lessen the impact of depreciation.

Affordability - a used car is definitely much more affordable than a new one. Some argue that a new car despite being much more expensive is more reliable with just a few things to repair. Well, this is not always true. A new car, in some cases, can have its own issues. And if a brand new car shows issues it can be disastrous! And in most cases, you cannot return that brand new car you just bought. Compared to a second-hand car, it has already been tested and as long as the car is not flooded, its parts can be replaced and upgraded. Replacement parts of a used car is definitely cheaper compared to a new one. The cost of insurance is also less compared to a brand new car.

Fewer Worries - with a used car your useless worrying about dents and scratches is down to a bare minimum. In fact, you can enjoy your used car in every situation without the very least getting annoyed of those unavoidable scratches and dents. A new car more often than not causes a lot of headaches whenever it is scratched or suffer dents. With a used car, you worry so much less about these things and you get to enjoy your car more.

Upgrade - there is much enjoyment in upgrading a used car. There is a wide array of parts and accessories you can choose from to upgrade your used car. A used car can even prove more reliable compared to a brand new one if most of its parts are upgraded. The cost of the upgrade is cheaper in most cases compared to the price of a brand new car. With some effort, upgrades on a second-hand car are much better.

Security - a used car is usually not on the priority list of thieves. It is not considered a hot item compared to a brand new car. If you are driving a used car there are much less bad elements on the street who may be interested in taking your car. A used car can be parked in places where you would not dare park your brand new. In this way, you can enjoy your life and car more.

What makes buying a used car a better strategic move than getting a new one is really the price and how it can create an impact on your budget. If getting a brand new car can cost you to go broke, it is definitely a bad move to get one. Getting a brand new car on installment, no matter how "affordable" it is made to exactly mean that you cannot afford that car.  It is always a bad move to spend something that you are just about to earn. Imagine paying for a brand new car for the next three or five years inclusive of interest with something that you are just about to earn. From a financial standpoint, this can lead to financial difficulties.