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Planning To Buy A New Car? Check Out The Pros and Cons!

One of the toughest and most expensive decisions you make while living is to buy a car, whether it is brand new or used, especially when it is your first investing in a huge item. However, upon making a decision, you might find yourself caught up between the perk of buying a brand new car and the disadvantages it may have compared to choosing a used car. Worry no more! – This article will enumerate the certain factors you need to know before putting an end to your decision.

            Pros of buying a new car 

  • The value over the cost. First of all, it is very obvious that a brand new car will cost you more compared to when opting to buy a used one. Brand new vehicles are flawless, while used cars for sale may come up with a few (or a lot) of hidden issues that may affect your car in the long run. Other than that, brand new cars also come with a manufacturer’s warranty which will offer you useful services such as repairs for free.
  • It is fresh. In a showroom at a car dealership, the brand new cars are what is being considered as the babies. This means that buying from a car dealership or when you opt to buy car online will allow you to be the first to own and drive it firsthand!
  • It has the latest equipment and features. You will never find yourself left with outdated features when buying a brand new car, especially with inauthentic equipment. Also, safety is one of the most essential features that a car must have – most, but not all cars come with safety features that are up to date. Hence, the body construction of brand new cars is safer, which offers protection to the riders.

            Cons of buying a brand new car 

  • Value depreciation. Brand new cars are pricey which is also a factor that potential car buyers look at. But brand new cars depreciate its value faster than anything else. Although the depreciation may vary depending on how popular your car model is, it is being said that a new car can lose up to 15%-19% on an average of its value in the first year of ownership.
  • The cost. This is a factor that is the number one less desirable when buying a brand new car. However, if you opt to apply for a car loan, this will cost you more money since they are being paid via amortization. The value of your vehicle may be more expensive than its actual retail price due to interest.
  • Insurance is more expensive. Especially if you happen to get involved in a car accident, your car insurance is a contracted policy that has to get paid by you in exchange for the insurance company’s coverage for any damages. You will then have to pay more for insurance tax and fees since it adds up to the total cost.

            Whether you are opting to invest in a brand new car or buying a less expensive used car, it is important to idealize and analyze the future and long term aspects before finalizing any of your decisions.

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