Posted on: 26 April 2017
When it comes to buying a car, the first thing to decide is whether to buy a new or used vehicle. Obviously, a used car will be cheaper, but often the advantages of buying a new car outweigh the savings in sticker price. The following are four reasons to consider buying a new car.
New cars are more reliable
This is common sense, but you need to think about the reason you want a car to begin with. If the point of having a car is to get to and from work and you live in an area where there is no alternative means of transportation, you will be depending upon your car to earn a paycheck. A new car will be more reliable to hold down a job.
New cars come with a warranty
Repair and maintenance are a big part of the cost of ownership with a used car. It has been said that buying a used car is just buying some other person's problems. Some used cars will need less repairs than others, but used cars, in general, will always have problems. In the short run, your used car may have one or more major issues. New car owners seldom have major issues. And if by chance there is a major component failure, your warranty will likely cover the problem.
New cars are more affordable than you might think
If you are going to pay cash, certainly it will take less money to buy a used car than a new one, but if you are looking to buy on time, you may find it more affordable to purchase a new car. Used cars are often more difficult to finance. They are financed over a shorter period of time, and often require a larger down payment. A new car has its payments stretched out over a larger time frame, so you need to look at how much the monthly payment is. For many people, it is the monthly payment that is the better indicator of affordability.
Financing options may be more attractive
New cars can sometimes be easier to finance. New car dealerships may carry their own financing, so you can bypass using a traditional bank. Sometimes there are cash rebates for a new car that can be applied to the down payment for the car. Some dealerships also offer first time car buyer programs to help you get a car. This can be helpful if you don't have a long credit history.
When thinking about buying a new car versus a used one, sticker price is only one factor. The four reasons to buy a new car mentioned above are worth considering before deciding on which way to go with your next auto purchase. Learn more about your auto options by visiting resources like http://youngautomotive.com.Share