What should you choose new cars or used cars?

Buying a car is one of the most important decisions of our lives. The Australian car market is flooded with many different options for buyers.

The first question car buyers are faced with is, should I buy a new car or should I buy a used car? 

Shop for Cars has put together a guide on everything you need to know about buying a new car or a used car. 

New Cars:

Every year we see different releases of new cars from leading car manufacturers. As a buyer you will always have options available.

Here are the advantages and disadvantages of buying a new car:

Advantages

Latest features: Buying a new car gives you the latest features available in the market. This includes the latest safety standards, size, speed, accessories and more.

Fuel efficiency: New cars offer buyers the latest advancements in fuel efficiency. With petrol prices constantly rising, having the most fuel-efficient vehicle can save you thousands.

Manufacturer and dealer warranty: New Cars offer buyers full warranty on the vehicle for about 3-5 years depending on the terms of the sale. Manufacturer warranty is an a great advantage as it covers you from any faults or any recalls. 

Financing options: New cars offer buyers wide financing options from multiple lenders. Used cars on the other hand give buyers a lesser amount of lending options.

Disadvantages

Price: Like everything in the world, when a product is new, the price will be high. New cars offer buyers a variety of positives but buyers will need to pay a significant amount more compared to a used vehicle.

Constant Options: We constantly see new releases of car models. There will be another more advanced model on the market in a short amount of time.

Depreciation Almost automatically after driving a new car out of the dealership, the new car will lose value. A new car has its largest value in the first year then the value will decrease rapidly. 

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Used Cars:

Used cars are in demand right now! but there are many things you need to be aware of. 

Here are the advantages and disadvantages of buying a used car:

Advantages:

Cheaper: Used cars are much cheaper than new cars. The older the car is the cheaper it will be. 

Smaller loan: With lower prices comes lower loans. This gives you the ability to pay off your loan in a quicker timeframe. With some used cars being dirty cheap you may not need a loan!

Car history: You can purchase PPSR and Car History reports to understand the vehicles condition and past. 

Lower insurance fees: Used cars offer buyers a lower insurance fee compared to new cars. Insurance fees are largely calculated on the value you insure the car for. As used cars are not as valuable as a new car you won't need to insure it for an obscene amount.

Disadvantages:

Ongoing costs: The ongoing costs maintenance costs are much higher on used cars. Due to the age of the vehicle, used cars need regular attention to stay road compliant. 

Limited to availability: Buying a used car comes down to availability. With a new car you can go into a dealer and let them know the type of car you want. With used cars you are tied to what is available in the market. 

Warranty: A key issue of buying a used car is they many don't come with warranty. Some dealers may offer warranty for the used car, but this depends on the deal on hand. 

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Final word

When buying a car there are a variety of options you must consider, both new cars and used cars have great advantages and disadvantages.

We hope you enjoyed reading this article. To read more articles like this, please visit the Shop for Cars latest news page here.

About Shop for Cars,

Shop for Cars is Australia’s first car dealership-only online classified. Shop for Cars brings you the best quality new and used vehicles from trusted motor dealers Australia wide. Shop for Cars currently has over 12,500 cars listed for sale all from licensed Motor Vehicle Dealers ONLY.

Click here to begin your search.

DISCLAIMER: This is all based on opinion please research and consult with all relevant parties to make the best buying decision.