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Should I buy new or second hand?

Buying a car is an important decision, and there are pros and cons to buying new or second hand. Read on to make the best choice.


It goes without saying that buying a new car requires thought and planning – you need to consider everything from your budget to where you will keep the car overnight. An important aspect of buying a car is choosing whether to buy new or second hand… otherwise known as “previously loved”.

We explore the used car vs new car pros and cons:

 

Buying a used car

For car buyers who are price conscious and want to buy a good condition car at an affordable price, buying a used car is the best option. It’s not only a cost saving decision but it comes with many other advantages as well. 

  • You don’t need to feel the pain of depreciation
    When you buy a new car out of the dealership, its price drops 20% and nearly 40% in the first year. The prices of new cars have steep decline and high depreciation rate in its value for the first 2 years. When you buy a previously-loved car, depreciation has usually calmed down at that point.
  • Variety of car models
    There is a large variety of cars available in the secondhand market and there are a couple of car sales websites like Autotrader, Cars, and Carfind. MotorHappy has our own previously-loved car website, with over 4000 cars for sale. All of the vehicles on our side undergo a stringent 116-point quality assurance check and all come with a full service history. Our website is full of top-class automobiles and there are lots of nearly new cars in very good condition. Most importantly, you can have the satisfaction to own any brand car that suits your pocket too.
  • Invest in a service plan or maintenance plan
    One of the key advantages of buying new is that the vehicle comes with a maintenance plan. However, when you buy a previously-loved car with a maintenance plan that has run out, there is always the option of investing in a maintenance plan.

There are many additional costs that you have to keep in mind if a new car. However, if you are a price conscious buyer then a used car is the best option to choose.

 

Buying a new car 

Buying a new car usually means you’ll be purchasing a vehicle in perfect condition, both mechanically and aesthetically. You also get to choose all the trims and fittings you want, giving the car more of a personality. Other advantages of buying a new car include:

 

  • Warranty and maintenance plan
    The main advantage of buying a zero km car is that it comes with warranty and has high life expectancy. With good maintenance, the new car lasts longer and has high resale value in the market.
  • Mileage
    The new car is engineered to give you a good mileage with few repairs and service costs in the early years.
  • Interest rates and good deals
    In order to attract buyers, dealers also offer a good interest rate on new cars. Moreover, the interest rate on your new car loan will depend on your credit, so if you have a good credit, you can sometimes enjoy lower interest rate.
  • Latest technology
    Another benefit of buying a new car is that it is equipped with advanced technologies and safety features that make a difference to performance and safety.
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Vehicle dealership or private seller?

Once a choice has been made to buy a used – or “previously loved” - car, the next step is to make a decision where to buy it from.

Find out more