Should You Buy A New Or Used Car This Time?

Posted on: 8 December 2021

If you need a car, then the first decision to make is it you want a new car or a used car. You may not be able to proceed until you answer this question for yourself. If you aren't sure which way you want to go yet, then here are some things for you to think about: 

New cars can cost more than you can realistically afford

While you may initially like the idea of buying a brand-new car, you should think about that price tag. New cars cost a lot more than pre-owned cars. The minute a car is driven off the car lot, it loses much of its value. 

This is something you won't want to hear if you decide to buy a brand-new car. However, it is something that can be very helpful if you decide to purchase a used car. It lets you know that you can get a car that is still a newer model for much less than before it drove off the lot. Therefore, looking for a newer used car can give you the best of both worlds. 

A new car means higher insurance

When you have a brand-new car, you will be likely required to carry full coverage insurance on the car until it's paid off. While this is a good idea with any car, you will find that the insurance for a brand-new car can be higher than for a used car. Since you are already putting out more money toward the purchase of your brand-new car each month, taking that extra hit on higher insurance may be hard for you to keep up with. 

Instead, you can purchase a vehicle that's a newer model. This gives you the perks of a newer model without the high price tag. It can also save you some money each month on insurance.

A new car means added worries

When you drive a brand-new car off the lot, you may find you are suddenly fanatical about keeping it in perfect shape. You may park further out in parking lots to avoid shopping cart dings, wash your own car, so you can be sure no one accidentally scratches it, and you can take on a lot of other worries over your new car. This added stress can take away from the joy of owning that car. 

A used car can still look fantastic, but you may not make yourself so stressed out over trying to keep it in perfect shape. This lets you enjoy the car much more. When you are ready to buy your next vehicle, consider going with one such as a used Hyundai car.