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Your Best Car Option New Or Used
Author David Schneider | May 23,2007
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Few times are more exciting than when you find yourself in the market for a new car. Whether you reach this point because you got a big fat raise from your boss, need a bigger vehicle to accommodate a new addition to the family or wrapped your last car around a telephone pole on your way home from a beer blast, the bottom line is that a big decision is now staring you in the face. Actually, there are a lot of big decisions related to purchasing any mode of vehicular transportation. For the sake of simplicity, this article will focus on one issue that has caused untold consternation to car buyers since the advent of the catalytic converter: whether it's best to buy a new or used car.
Despite a historical association with empty pockets and tiny studio apartments, there is a lot of good news out there for prospective used car buyers. In fact, this may be the best time in recorded history in which to enter the used car market. The many enticing rebate offers and low- or no-interest financing schemes of recent years have led to a record number of new cars and trucks rolling out of the factories. A natural result of this trend is an overabundance of used cars, many of them having not been driven more than a nominal number of miles.
So to say the the used car world is a buyer's market would definitely be accurate. And it's not like we're talking about a huge crop of lemons, either. A sizable amount of certified pre-owned car plans have cropped up in recent years to provide consumers with peace of mind when it comes to buying a used car.
As a general rule of calculation, it can be said that for less than half the price of an average new car, you can buy a vehicle that's several years old and loaded with way more features than the new one. It's apt to be bigger, too. So, on that level, it's clear that the used car option has a lot going for it. But there are risks in play that need to be considered.
Primary among these risks is what may or may not have happened to the car before it came into your possession. In this case, what you don't know can definitely hurt you. While it's possible the previous owner was a responsible and upstanding driver with a perfect record, it's just as likely he was a white-knuckled, lead-footed coke fiend whose idea of a good time was inhaling the sweet stench of burt rubber and terrifying other drivers with full-throttle games of freeway "chicken". You just don't know, and that's the (potential) problem.
New cars also come with the big bonus of warranty coverage that's usually good for at least three years. That can offer priceless peace of mind. Furthermore, most new cars and light trucks purchases include free roadside assistance while under warranty and often longer than that. So as you can see, there are good arguments for buying both new and used cars. Ultimately, you need to take a brutally honest look at your financial situation and proceed with a purchase that makes real sense. |
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