Should I buy a New or Used Car in 2022?
Should I buy a New or Used Car in 2022?
Posted on March 26, 2022
Buying a new car can be quite an expense. You may be thinking about what kind of car you want, and asking yourself if you’re buying a new or a used car. There is something to be said for both new and used cars, you just have to choose what is right for you and your needs.
Used car sales are on the rise. Not surprisingly, buying a used car at a used car dealer is much cheaper than driving a brand new car out of the showroom. On the other hand, it can be challenging to find a good used car, especially if you don't know anything about cars. What do you look for when choosing between a new and a used car?
New or Used Car?
We don't hide it: a new car is more expensive than a used one. You have higher depreciation costs than a used car in the first few years. Your new car is worth about half as much after five years. This isn’t necessarily bad, but something to think about. Also good to consider is the fact that insurers usually charge higher insurance for new cars. A used car is a lot cheaper to buy.
Also, cars renew as fast as smartphones these days. For example, buying a lightly-used car at Used Cars Lethbridge means that you’re equipped with the latest technical gadgets.
You Can Benefit From Buying a Used Car, or Not
To help you choose, we've listed some important points when buying a used car.
Advantages of a used car
- Cheaper to buy: being able to drive a “more expensive” car than when buying a new one
- Lots of choices
Disadvantages of a used car
- You often don't know what kind of history the car has and what condition it’s in
- You have little or no warranty
- No undamaged paint and no super smooth bodywork anymore
- Older cars have fewer safety features than a brand new one and are often less economical
Advantages and Disadvantages Come With Buying a New Car
Considering buying a new car? Take these factors into consideration:
Advantages of a new car
- All the options, equipment and colour, you name it
- At least two years manufacturer's warranty
- Safe, clean and economical
Disadvantages of a new car
- More expensive to buy
- High depreciation costs
- Higher insurance
New Car vs Used Car Costs
New cars are more expensive than used cars. But what do you really pay for a used car? That depends on many factors, such as the car's age, whether it belonged to a little old lady or a travelling businesswoman, the maintenance, what kind of car it is and what kind of model it is. On the other hand, if you buy a new car, you know your costs for the coming years, especially during your warranty time when you know you won't have extra costs.