Of the thousands of questions that float in our minds when we think of buying a car, the simplest is whether we should buy a new car or go for a used car. Buying a new car definitely has its plus points. We get brand new car which is not used, along with it we get the latest technology on offer and the best warranty without paying extra. Brand new cars come with the latest safety mechanisms and higher fuel efficiency and lower emissions. Other than these financing a new car is more convenient than a used car and we do not have to pay extra for maintenance at least till some time. Most importantly, not much physical exertion is required while buying a new car, because most of the work is off loaded to the dealer to come up with the car specs that we want, the same is not true while buying a used car for we have to pay visits to all those sellers to inspect the car and check it before buying.
But in spite of all the advantages of purchasing a brand new vehicle, people in India are getting more inclined towards buying used cars. There are several reasons why they do:
Though interest rates on new cars tend to be low for new cars, the total price of used cars, even after slamming the interest amount, are found to be much lower than the cost of a new vehicle. The price difference between a new and used car is certainly huge.
The benefit of this is that people can afford a nicer model which they would probably not be able to fit in budget had it been a new one. So they can not only ride a nice car, but also at a much lower price. So buying a used car offers greater number of options to buy from.
All cars lose their worth in terms of value with every passing month and mile, but the major depreciation occurs right when you buy a new car. Some cars can lose up to more than 40% of their value in the first year itself. But with used cars, there is no depreciation in value.
Price of a new car includes various kinds of taxes like road taxes etc and other random fees, regardless of which vehicle you are buying. But buying a used car from a private seller will not involve paying such random fees.
So overall, purchasing a used or pre owned car definitely has its benefits. And with technology today the experience of buying a used car is totally different from what it was earlier. Starting from user reviews to know what to expect from the used car to calculating ownership costs and used car valuation, every information that might be needed ever is all available to the people, which is why they prefer buying used cars to new cars.
