The Pros and Cons of Buying a Used Car |
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Laura Lee
May 28, 2013
In this present scenario of tighter economy many wishing to buy vehicles are opting to buy used cars instead of the brand new cars. The main criterion for this trend is the much higher price tag on the new cars. And most people believe that buying used cars is indeed a smart financial decision.
Used cars that save you a lot of money in these hard economic times
So, you have decided to buy a vehicle and are debating between spending a fortune for the brand new car or getting a used car. It is quite a tough decision and you must weigh all the pros and cons before settling on which one to buy.
A lot depends on factors like the purpose for which you wish to buy a vehicle, is it for a short-term necessity or is it for a long-term use. Who is going to use the car, you or your college going son? How many miles do you anticipate your vehicle to run on an average? And most important is the budget you have set apart for this.
Well, answers to the above questions will help you a great deal; if it is for a short term use or if it is going to be used by the youngster for going to college then it is surely advisable to go in for the used cars. And also if you have budgetary constraints you should buy the used cars that come in for much lesser than the brand new ones.
But if you are planning on buying a car to commute long distances on a daily basis to and from your office you should plan on buying a fuel-efficient car and it is best to buy the new brand of eco-friendly cars that also help towards saving our environment. Of course, a new car has a bigger price tag but in the long run you will benefit out of it by having lesser maintenance and repairs issues.
Buying a new car is definitely more exciting and gives you the satisfaction of being the first to drive it and the vehicle has a lovely new car smell that is sure going to give you a high. But for all this you should be prepared to spend so much more and also remember that the insurance and registration costs for a new car are much higher than those for the used cars. So, weighing all the advantages and disadvantages it is up to you to make that big decision, new car or used car?
Oh, so you have become financially smart and have opted for the used car!
Now where to buy used cars?
There are basically two sources from where you can buy used cars, one is a dealer of used cars and the other is the private seller. And experience tells us that buying used cars from a dealer is surely more convenient; they have a wider selection and have trained mechanics who put the used car in proper condition for a smooth functioning of the vehicle. They handle all the formalities like the insurance, licences, tranfer papers, etc.
The dealer has a well established network with financiers and can arrange for immediate finance for your car and will help you with all the paper work involved for this. And all this will be done from the comfort of their office without having to run around.
Buying from a private seller has one advantage of coming for a lesser price but it has a lot of problems. First of all you will have to go to different locations to see the cars put up for sale by the private seller, all the paper work for transfer of ownership, insurance, and finance if necessary have to be done by yourself. And it becomes even more a problem if the used car is still under lien; the outstandoing loan has to be cleared and the title changed into your name.
All this also involves a lot of risks and after all this you realise that the car has a lot of repairs that have to be attended to, now you have to run round mechanics! This is indeed a thankless job, so best is to approach a reliable dealer to get yourself a used car that is in real good condition!