Should You Buying a New Car or an Old Car

We all want to drive home in a shiny new car, but how often do we have the budgets at the appropriate time to own a high class luxury car? Used cars are a great deal in such a scenario, but the idea of owning a used one also has a bunch of nay-Sayers. Here's a guide to help you weigh the pros and cons of a used and new autos.

New car: The pros

There are several advantages when it comes to buying a new Vehicle, the first of them being the sheer pride of owning a car that is brand new and coming straight from the dealer. You alone have the first right to ownership and no one else.

Also, when you buy a new vehicle, you are choosing the latest model that comes equipped with new accessories and safety features. You won't have trouble with mileage, spare parts, service or warranties. At least for a few thousand miles, you don't have the worry of any major maintenance costs. The other big plus with a new car is that of roadside help offered by the company, and which is completely free. Most auto makers offer this for their new cars.

New car: The cons

Among the major disadvantages of buying a new vehicle is the price. A new one always comes with a premium price tag. Also, the insurance costs are higher for a new one than a used one. What's more, there is the depreciation to handle. The value of the new will plummet by at least 30 per cent immediately after you buy it.

Used car: The advantages

• Having said all this, a used vehicle also comes with its set of advantages. This is particularly true when you have your eyes set on that premium luxury model that you can't afford to buy in its brand new avatar. The option of buying a used one allows you to drive of your dreams at a much lower price.
• When you buy a used car, you have access to some models that are no longer being manufactured now. That model could be a good one, and you may have wanted it for a long time.
• You get an extension of factory warranty when you buy a used one.
• With a used car, you don't have to bear the depreciation burden because it is remarkably lower than the original in case you want to sell it.

Used car: The disadvantages

• Someone else has driven it, so you are never the true first owner. There is trouble with mileage and maintenance as well.
• With a used vehicle, you have control over the present certainly but what about the history of ownership, and the spare parts used in the past?
• Interest rates on loans for used cars are usually higher as well.

a href=http://www.haggertyautogroup.com/Haggerty Auto Group provides you a wide range of new & used vehicles at reasonable prices in Chicago & its surrounding areas. For more information on their inventory and their rates, please visit us.