An apple has to be compared with an apple only!
This is an elementary bench mark one has to keep always in mind when comparing an old car with a new car. You have to compare a 4 cylinder full option car with a similar type of car irrespective of the brand. Then only the result would have a justification. A used car with comparatively low mileage and modern technical features, if available for a low price would be always a better choice.
New vehicles too depreciate. Their value generally depreciates at 20 to 25 percent a year. Considering the depreciation, a three year old car with all the technical features can help you save good amount of money towards the cost. Difference of price between a new and old car shall definitely foot your gas costs for one or two years. A comparative study on gas has proved this argument. The study says a V6 engine can save about USD 13,000 for a period of five years with that of buying a new car with V6 engine.
There are so many sites that can provide side by side comparison about used cars and new cars. One of the trusted resources is Kelley Blue Book, which can provide you a side by side comparison with various cars. Now let us do a comparative research on various aspects of buying a new car and a used car.
Advantages of a new car
As the competition is stiff between the manufactures, there is a good possibility for the buyer to place his/her options. The combinations in features including the interior and electronic systems are a definite advantage that drives buyer to buy a new car.
A new car will be always brand new with Zero mileage option from the show room. There is absolutely no chance of having any kind of past bad usage of the car. The brand new car will be having full manufactures warranty/guarantee as stipulated by the manufacturer. If the cars do not have warranty or guarantee there are schemes that can be covered by paying extra price along with the cost of the car.
New cars will have latest technologies and safety features. Most of the new cars will have on board display systems to monitor various safety parameters such as oil, engine heat, tire pressure etc. Innovative technologies for blind spot detecting, ABS brake system, air bags, cruise control, climatic controlled air conditioners are incorporated in these new cars.
As the competition goes higher, new cars are coming up with more fuel efficiency and with better emission control systems. This is a blessing to the customers as well as the environment. Research on this segment further contributes in offering hybrid cars to the public.
Finally another plus point is financing options. When you buy a brand new car, there are good possibilities for getting an easy finance with convenient options for payment of installments.
Advantages of buying a used car
A used car buyer will have lot of advantage on the cost of the car. The buyer can have all the available features at an extremely low price when compared with a brand new car. The price advantage comes your way due to depreciation. The buyer has to be satisfied with the features that are available with the used car.
Insurance premium for a used car is always less as the insurance premium is calculated basing on the value of the car and its age. Even though a used car buyer does not have any option of having custom made features, the buyer can definitely go for an extensive research and it is easy to find a car of choice that really meets his/her expectations.
