Buying a car is a big decision and a big purchase. One of the first questions you’ll need to consider is “should I buy a new or used car?” It’s not an easy choice but there are many reasons to opt for a second-hand car over new. Here are the top 5 reasons.
Second-hand cars are a LOT cheaper
Of course, the number 1 reason to buy a used car instead of new is price. Second-hand cars are a LOT cheaper than their new counterparts. Once a new car is driven out of the dealers it decreases in value substantially. This means even if you want a new model, you can get the same model at a much lower price than you could if buying new.
If you want to get the best deal there is, look for cars that are a few years old. A new car can lose about 45 per cent of its value in just a few years. Meaning, you can buy a second-hand but relatively new car at just a fraction of the cost of buying the same model new.
There is a wider range to choose from
The second reason for opting to buy a used car instead of new is another very practical reason. As the used car market is substantially larger than the new car market, you have many more models to choose from. This makes finding the perfect car for you at the perfect price a lot easier.
You can get a better car
Because there is a wider range to choose from in the used car market, and the fact that second-hand cars are a LOT cheaper than new, you can get a much better car than you could afford to buy new. Always wanted a luxury ride? Now you can have one.
Don’t buy a lemon
Perhaps the biggest argument against buying a second-hand car is that you could get stuck with a lemon. However, when buying from a dealer, there are strict consumer laws that you can take into account. Even if the car is well outside of the manufacture warranty period, you’ll still be covered by a mandatory statutory warranty. And don’t think for a second that you can’t get stuck with a lemon just because you’re buying new.
For example in NSW if you purchase a used vehicle from a dealer and it has less than 99419.39 miles on the clock and is less than 10 years old, by law the dealer guarantees the purchase for either 3106.85 miles or the first 3 months after purchase. Civil law applies for private sales, however they can be harder to pursue.
Buy a demonstrator model
If we haven’t convinced you yet, then you might want to opt for a demonstrator model. They are a great in-between option for those who want a lower price point, but still want that new car feeling and reliability.
Demonstrator models are usually much lower on miles. They’re also usually driven very carefully as they’re used by dealerships to show other customers the car. Just ensure, that when negotiating the sale, to check what warranty the dealer is offering.