A Quick Comparison - New vs. Old Luxury Cars

Basis on the statistics and numbers, it is anticipated that Singapore vehicle sales will gradually come to crash by 2021. Since 1990, year of birth of COE (Certificate of Entitlement), Singapore has witnessed highs and lows in the car population. Even after the latest bidding exercise where the COE premiums were announced lower, the car registration does not seem to have gone up. Estimated numbers represent reaching annual new registrations of fewer than 46,000 units which is less than half of the sales of 2017.

Buying cars, diamonds and other similar costly possessions depend on one’s discretion and budget size. Some find it utter waste of money while others hold pride in owning one! It totally comes down to the individual’s opinion and spending capability and sometimes people get amazing options under the bucket of used luxury cars for sale. However, looking at slow economic growth and rising interest rates, People are pulling their hands off from spending money on comfort and luxury goods. Hence the question arises – is it worth shredding your pockets on a new luxury or Tesla car in Singapore? The answer to that question is - A new Luxury car might not be the ideal pocket pleasing option, however, you can choose the desired one from the offerings under used luxury cars for sale.

What are the advantages and disadvantages of buying a new or old car?

1. Price

Need not to mention that there is a huge difference between the prices that you pay for new vs. the used car. The new car is much more expensive than the used car. However you pay way lesser for the same model of used car.

2. Warranty

The most alluring point about the new car is its warranty. A new car often comes with multiple free services and warranty while an old car may or may not have any warranty term left.

3. Condition

Buying an old car is a gamble. You cannot be sure about the exact condition of an old car. On the other hand you know for a fact that you are the first and the only owner of an unused and untouched vehicle.

4. Freedom of selection

You have the liberty to choose the dealer and the model of your own choice if you choose to buy a new car. However, less options and variants are available for sale if looking to buy a particular car type in case of purchasing an old car.

5. Depreciation

As soon as you drive the new car out of the showroom, it depreciates. The first year alone is about 21 percent depreciation. Whereas being the second owner of a car you will get a lesser depreciation hit.

There are various factors of consideration when you plan to buy a luxury car. Search the web to know more about top selling luxury car brands such as Rolls Royce, Mercedes, and Tesla car in Singapore.

Author Bio: Shawn Maker works at a leading automobile company and his job includes ensuring a smooth process for supplying a used luxury cars for sale. He is a keen blogger and loves to share tips that can help end consumers to buy authorised used Tesla car in Singapore from a luxury dealership. He is a professional in this line and can help with queries related to buying /selling used cars.