New Cars vs. Used Cars and what that means for you
There are entire internet sites dedicated to the pros and cons of buying both new and used vehicles. Discounting the technical mumbo-jumbo and the sales-talk, we here at Western Province Motors would like to walk you step-by-step through the real differences between buying a new and used vehicle and what these differences are going to mean for you, the driver, in the long-run.
There’s definitely a certain pride in buying a new car and not having to deal with maintenance issues for its first couple of years on the road. Or so you’d think. New does not however always mean better and sometimes people cut corners. Anecdotal evidence suggests that even a new car can be delivered faulty and need to be taken back into the workshop two weeks later in order to replace a faulty sensor in the passenger seat. In the same way, buying a vehicle second hand does not have to mean a maintenance nightmare! By purchasing a second hand vehicle through an accredited, reputable dealership you can rest assured that the vehicle has been well maintained, serviced and is road-worthy. You as a consumer also have the right to request a second hand vehicle’s full service history; a reputable seller will always be transparent about a vehicle’s maintenance history.
When purchasing a new vehicle you’re purchasing the peace of mind that comes with a vehicle under warrantee. Whether the warrantee is valid for a number of years or a certain distance traveled (whichever comes first) you can sleep easy knowing you’re covered in the event of part failure or malfunction. What you need to know when purchasing a second hand vehicle however is that the remaining balance of the warrantee on a vehicle may be fully transferable upon change of ownership! Your second hand car dealer should be upfront with you about this possibility and whether or not it is applicable in your particular case.
While it may seem that buying a new car would inherently cost you more than purchasing a second hand vehicle some financing options may allow you to sign up for a payment plan with a very low interest rate; making it easier on your wallet to finance a new car than pony up a lump sum to purchase second hand. When purchasing new however your car depreciates in value far quicker than a second hand car would and you subsequently pay more for the new car than you could have paid for the same car which is only 6months older and in gently used condition.