Choosing your next car is an exciting time, but with more choice available on the market than ever before, it can sometimes be a daunting prospect when it comes to picking the right one.
There are pros and cons for buying both new and used cars, so to help you decide which is best for you, we’ve taken a closer look at the key benefits.
Buying new
Technology is advancing at such a rate these days that even a car which was launched three years ago can be significantly behind the times. Safety kit especially has advanced a great deal, cars can even steer you back into lane now or stop if it senses a collision.
Staying connected is an important part of the modern world and the latest wave of cars not only have voice command systems and advanced Bluetooth systems but can also be connected to the internet while on the move and enable access to social media.
One very good perk to buying a new car is the warranties that come with them, some as long as seven years and many are also transferrable which makes your car more attractive to other car buyers when it comes to selling.
As well as being safer, you can expect very little to go wrong with a new car either and there’s no unknown history to worry about which offers extra peace of mind.
It’s not only technology that is advancing at such a great rate, engine efficiency has also drastically improved over the past few years. Cars not only produce less CO2, but fuel economy of new cars has also greatly improved, so a new car should save you money at the pumps and on your annual tax bill.
The pros: at a glance
- Access to the latest technology including safety kit
- Latest engines are cleaner and more economical
- Warranties
- New cars are less likely to breakdown
Buying used
The biggest problem with buying new is budget, cars are an expensive business and they start to lose money as soon as they’re driven off the forecourt. If you’ve had your eye on a dream car for a while now and it’s beyond your budget for a new car, then you might be able to find a good deal on a three-year old model.
Sure, you don’t get that new car smell or the exact spec you may have wanted, but you will save a small fortune in the process.
There’s arguably much more choice buying used too, dependant on your budget of course. Cars can lose up to two thirds of its value by the time they reach three years of age. There’s also much more room for haggling and finding a good deal with used cars.
There are downsides of course, for one you don’t know how the car has been treated during its ownership elsewhere, you can inspect the car before buying and check for known indicators of course, but it’s still a risk.
Cars will generally be cheaper if you buy them privately, but there’s little comeback if you find anything wrong down the line so the risk is higher.
You can carry out a history check with Parkers which will instantly tell you if the car has any hidden secrets such as outstanding finance or whether it has been stolen or written off, click here to find out more.
Some manufacturer warranties are not transferrable either, plus the older the car gets, the more likely it will breakdown or incur faults, so trips to the mechanic may become more frequent and more expensive.
Shopping around for a good deal should be top of your priority list, that’s where Parkers comes in, there are over 150,000 used cars on the site available to view and compare. Click here to visit our cars for sale section.
The pros: at a glance
- Cars depreciate much slower
- More choice is available for your budget
- Used cars are cheaper to buy
Finding the right car
Picking the right car which meets all of your needs is important, you don’t want to regret your choice a few months down the line.
That’s where Parkers comes in, our car reviews have 12 dedicated sections covering every aspect of buying a car including practicality, what it is like to drive and the car’s running costs.
Check out our car reviews section here.
One of the most important things to remember when buying a new or used car is to set yourself a budget, it’s very easy when you’re stood in the forecourt to get swept away with optional extras and more powerful engines. But you won’t thank yourself later when all the monthly bills need to be paid.
It’s also important to remember that you can always walk away if you’re not 100 percent happy, there will always be another car for you around the corner.
