When purchasing a car, a key factor to take into consideration is whether to purchase a new or used vehicle. New does not always mean better, as there are drawbacks and benefits to both, and one may be more suited to your personal needs and budget than the other. It is important to understand your own personal situation and do the research to make sure you’re getting the right car for you.
Fortunately, we have done a lot of the legwork for you, presenting the pros and cons of each…
New Cars: Pros
- Factory fresh: The first and most obvious is that the car is in newer condition with no previous owners, meaning no nasty surprises lurking in its performance or quality. Factory fresh, the car will work as intended and require less immediate work for it to be road-ready.
- Getting what you want: As new cars are still being made from the factory, there is a wider range available to match you with the car of your dreams, whether that’s a red car with leather seats and phone connectivity, or a black sports model boasting incredible acceleration with power assisted steering to ease those turns, you are certain to find a vehicle with a specification that perfectly matched your wants, so that you can drive away from your dealership satisfied.
New Cars: Cons
- A punch to the wallet: As one might expect, purchasing a new car is expensive, and even done through finance it can run up your monthly costs, applying financial strain even before insurance and fuel. Not only that, the insurance is also likely to cost more, as the car itself has higher value.
- The loss of value: New cars depreciate in value very quickly, from the very second you drive away, meaning if you wanted to part-exchange or sell it, you would not get as much as you paid for it. The same could be said for used cars, it’s true, but cars that have been used also come attached with a cheaper buying tag to start with.
Used Cars: Pros
- Wallet-friendly: Used vehicles are cheaper than the younger counterparts, for the obvious reasons of general wear and tear and the miles already on the clock. This also means purchasing on finance will work out cheaper monthly installments and/or shorter payment plans so you can upgrade or become the car’s rightful owner sooner. Additionally, the insurance will also cost less, as second-hand vehicles have less value than a new car.
- Drive with confidence: At the car finance companies, all our used vehicles come with 3 month warranty so you can drive away knowing you are protected. You can also opt for longer warranties such as 6 or 12 months, and occasionally we even offer special offers on our warranties.
Used Car: Cons
- Shorter lifespan: Since the car has already had at least one previous owner, the chances that the car may come with some general wear and tear and engine parts with less years of use left is much more likely. Hence, the car is more likely to suffer a breakdown sooner than a new model.
- Beggars can’t be choosers: Searching for pre-owned vehicles means you aren’t guaranteed to get the model you’re looking for, as you will be limited to the stock the dealers have available. If you can find the model of your dreams, happy days! Otherwise you might have to settle for something other than what you had in mind.
At the Car Finance Companies, we have a plentiful range of pre-used cars from sleek, sophisticated sports models, to large vans boasting large storage opportunities, and simply, nippy A to Bs. All our cars are kept in perfect condition, inspected and serviced in-house by our talented mechanics to ensure you can drive away a satisfied customer. Visit our website to check out our entire stock, fill in the quick and easy application online or speak to our friendly, experienced sales team on 0151 523 4000!