A brand new automobile is a wonderful thing. It’s perfect inside and out – no blemishes, no spots where the paint was scratched by the garage door, it even smells new. Should you indulge yourself and spend your money on a car brand new at your local car dealership, or is a pre-owned car a smarter bargain? There are benefits and drawbacks to each choice.
The clear benefit to buying a used car is that the price tag is much easier on the wallet. In fact, the minute you take a new car off the lot, it loses a high percentage of its value. A week after you’ve bought a new car, it’s still new. I doesn’t have any scratches, it still smells new, and it has a lot of use left. But it’s no longer a brand new car to the next guy, and that alone is worth money. It would be reasonable to think that the value of a car would decline steadily over its useful life, but that isn’t so. A car’s few months and years see a larger drop in value than later years. Finally, the price levels off and its value is determined solely by its condition – but it still has some value.
One of the largest drawbacks to getting a second-hand car is the unknown. Why did its previous owner get rid of it? Is it a lemon? How well was it cared for? Was the recommended maintenance done when it was needed? Has it been in an accident, or has it experienced flood damage? Happily it’s much simpler to ascertain the answer to these questions that it ever has been. Many used car dealers offer up a Carfax report, which tells you the car’s history. How many owners has it had? Has it been involved in any wrecks? Cars can be traced by their vin numbers and now that computer records have improved, it’s much easier to compile this information.
A shorter useful life is another drawback to getting a used car. Repairs will be required sooner. This, of course, depends a great deal on the age of the used car. The manufacturer’s warranty may still apply if the car is still comparatively new. In fact, several car dealers sell ‘certified vehicles’. This means that they have inspected the car, done any necessary maintenance and repairs, and determined that it meets certain quality standards. You won’t have to worry about major repairs for a while if you buy a car that comes with a warranty. Whether or not there’s a warranty, you should have your own mechanic evaluate a car before you buy it. Compare the price tag to the condition. If you accept a car with some defects, you should get it for a lower price. Of course, there is a limit. A car that’s about to expire isn’t worth any money at all – except to the junkyard.
New cars are costly – that’s the bad news. There are some benefits too. First, engineering is improving, so a car built today will run longer than a car built even a few years ago. Also, if a new model that you like has just come out, there won’t be any used ones available. Infiniti has recently released its G37 Convertible. If you can find a used one, it’s probably at a premium price for a used car. You might be better off just to buy it new.
Ultimately, choosing a new or a used car is an individual decision. The type of car you’re looking for and your purpose in buying it will probably determine which way you go. Whichever route you choose, do your homework and consider both options before you make your choice.
Written by Hannah Valez Used Ford Dallas, Used Car Redlands or Used Acura Atlanta