There are two ways most people get a new car. Either they are rich or they just won the lottery and they end up buying the latest model of an expensive vehicle; or they go off and take huge loans from banks and then buy a new car which they spend years paying off.
Most of us don’t have that much cash to spend on a brand new model, however buying a used car can ensure you some benefits as well. Plus, by the price you’ll get a brand-new car, you could actually get a better car and model if you decide to buy it used.
There are both pros and cons to buying a used car. And that’s what we are going to discuss today in the article.
Let’s first talk about the potential downsides of getting a used car.
1) Buying a Lemon
This basically means buying a car that looks perfectly good from the outside but has hidden faults within. However, this can easily be avoided by having it inspected by a trustworthy mechanic before buying it. As well as using reputed and verified sources to buy used cars.
I personally recommend Sandown Group in the UK as a trusted dealership. Their amazing collection of used cars can be viewed in their website which happens to have great interface and you can filter down exactly what kind of used car you want according to manufacturer, body type, age and more.
2) Limited Customization
If you are buying a car that is used, there is probably not going to be a whole lot of variety available. And certainly, won’t able to customize it as a factory-built model. However, using a website such as Sandown Group will still allow you to view many interior style and colours even while browsing used cars.
On the other hand, there are several benefits of getting a used car instead of a brand-new one too.
The biggest benefit of course is the cost savings. You can get a used Mercedes Benz for sale for far less than an original one. And depending on your budget, this one thing might outweigh the cons altogether and persuade you to buy a used car. Cars depreciate quickly just a few years after initially buying them. Even if the car quality is almost as good as that when initially bought, the price falls quickly. It may be bad news for the owner, but not for you. I mean if you can pay nickels on the dime why go the expensive way?
2) No Loans
A lower price directly relates to no need of huge loans. You might need to buy a small loan to buy a used car but can easily pay it off much quicker than had you loaned for a new car. Used cars are usually available for a low price that enables you to pay upfront rather than using recurring instalments or loans.
As the value of the car goes down so does the insurance fees. Buying a used car means that you have to pay quite less than insuring a new car. And the money saved could go towards some quick repairs or upgrades if the car needs any.
Depending on your budget, needs, and travel needs, your judgement may vary regarding whether to buy a used car or a new one. But in my opinion, for most people, buying a used car is much better if they want to save financially as well as prefer tranquillity of the mind.