subject: New Or Used Car: Which Do You Go For? [print this page] If you are in need of getting another car you will surely find that it is very easy to argue with yourself whether to buy a new or used car. There are a number of different reasons to have this argument with yourself. The number one would be saving and for people like this buying a used car may be your best option. However, there are a number of things to consider as well as a number of different ways to look at this situation.
A positive point about buying a used car is that the cost of one of these vehicles will be substantially less that buying a new one. However, used cars can come with or without a warranty, which is dependent on many different factors. Although, if you do not get a warranty with a used car you can also go buy one if you have less than 200,000 miles currently on it. These warranties will usually only cover the motor and transmission so it is wise to do thorough maintenance on it.
Moreover, whenever you buy a used car you should realize sooner or later something will break on the vehicle. Depending on what part is broken on the used vehicle you may be looking to spend anywhere from fifty to five hundred dollars. If you have some mechanical skill and experience you can save yourself boatloads of money by doing all the repairs yourself instead of taking it to a shop. In some instances you may be better off buying a new car if there are constant mechanical problems with the used vehicle you have purchased.
A new car has the advantage of normally being able to go up to four or five years before there is any real mechanical breakdown. If something does go wrong, there is a full warranty usually sitting there willing to take care of it for you. If you have great credit, then you will most likely qualify for a decent interest rate, which means low payments. In the short term, the new car makes more financial sense. However, in the long run, you will be paying at least twenty thousand for the car and then for all of the repairs once the warranty runs out.
The main thing you will need to think about when comparing new and used cars is if you wish to pay more money upfront or later down the road. You need to think about all of these things very carefully before you make any final decisions. If you are on a low or tight budget it is very likely you will not qualify for great interest rates in the first place for being over extended. That is why a used car may be better in a scenario like this.
It is wise to save up enough money to buy your new or used car on the spot so you don't have to deal with monthly car payments. By not having this payment you can spend more money and repairs and maintenance.
