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New Car vs Used Car- What is right for you?

The Indian automobile industry is growing rapidly and is one of the largest in the world with an annual production of more than 21.48 million vehicles.There are many car seekers who are constantly scouring the market for buying a car. But they often get confused in making the choice between a used and a new car.It is important to understand that either choice comes with its own set of advantages and disadvantages.

We have categorised these to help buyers like you make an informed decision.

Why should you buy a new car?

Most of us want a shining new car that feels brand new! But if you are looking for some more reasons to buy a new one, here are some:

Peace of Mind

A new car gives absolute peace of mind, as you get the car covered with bumper to bumper warranty from the manufacturer for the first year or two. You can be assured that if anything goes wrong, the dealership and the manufacturer will fix it for you, at no extra charge. One can often extend the warranty period as offered by certain manufacturers. Most of the expensive components such as engine, transmission and air conditioner, typically get covered in the extended warranty. If one is worried about unexpected car maintenance expenses, a new car poses much lesser risk of this.

Low Maintenance

A new car will require comparatively fewer service centre visits than a used car. The parts that wear and tear such as tyres, brake pads, etc. will require replacement only after a few thousand kilometers. The periodic service will also require replacement of consumables such as engine oil and brake oil only. Overall, for the first few years of ownership, you could spend relatively lesser on maintenance when you opt for a new car.

The Right Of Choice

When you are buying a new car, it is a moment of pride of ownership or a milestone. The best part about that, is that you can choose each and everything like the exterior colour, interior colour and can also customize the feature list in their vehicle. This makes it a car that suits your personality. One can also choose the insurance of your own choice. These are also possible in buying a used car but it may not tick all your boxes.

So, Why Should You Buy A Used Car?

With the industry constantly growing consumers are now open to buying a used car from the open market rather than only from someone known.

Buying a used car has its own advantages, some of them are mentioned below:

Facilitates affordability and savings

The most specific advantage of opting to purchase a second-hand car instead of a new one is that it be more affordable, thereby increases your savings.  So a person on a tight budget for a new car can jump two segments higher and get a much bigger and better car in the used car market.

Inspected And Certified Cars

A major benefit is that there are a handful of inspection companies that inspect and provide an auto inspection certificate for the used cars. This certification reduces ambiguity which is a crucial part and aids the buyer in the critical parameters of the car. This helps the buyer make an informed decision.

 

There are also pre-owned cars, certified by the dealer - especially in the luxury segment, allowing many buyers to trade up models without investing too much.

Avoiding the registration fees and other charges

When you buy a new car, there will be numerous payments made towards the Government, such as one-time registration fees, road taxes, and other RTO charges which swell up the on-road price of the vehicle.

Opting for a used car would mean not needing to pay all these extra charges as it would have been already paid by the first owner of the vehicle. This, in turn, will help you get full value for your money and you don’t need to shell anything extra out of your pocket to take your favorite car out for a spin.

Full assurance and warranty for the vehicle

There was a time when second-hand cars were considered ‘junk’. Over time, this has changed significantly.  The main reason for this improvement is vastly due to the entry of organised players in the market.

Spurred by internet and digital purchases, online used car dealers have emerged. There is a guarantee and you will be provided all the information about the durability of the vehicle in some cases the dealers even offer a limited warranty on the cars sold. The vehicles are also tested thoroughly for quality and sustainability before being handed over to the customers. This has definitely made the prospect of buying a second-hand vehicle smoother.

Contribute to Environment

The environment plays a vital role in all our lives. Buying a used car facilitates in helping the environment. So apart from helping you save money, opting for a pre-owned car also works well for the environment by reducing the carbon footprint.

The primary fraction of carbon dioxide produced by a car occurs in the manufacturing and initial shipping process. Hence, when you opt for a second-hand car, you are eliminating the two of the biggest polluting factors, thus minimizing the impact on the environment also thereby contributing to it and making a difference.

There will always be a number of factors that contribute to making an informed decision about buying a new car or a pre-owned one. The main one being the comfort with the financing options and the long-term implications for your personal financial situation. You need to feel safe, secure and you'll need a vehicle that is reliable. Finally, you need to make sure your new car has the comfort, features, and amenities that you want.

After all, buying a car is a major financial decision. Aside from the purchase of a home, it often qualifies as the largest purchase many of us will make in a lifetime, so make sure to do your research and enjoy the ride! Also learn about car insurance provided by Chola MS.

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