As consumers, we always want the best for ourselves. This brings us to the important topic of discussion - should one buy a new car or a used one? Before making that informed decision, one does need to consider which make and model they are looking at, whether it will suit their pocket or not. Talking about the current situation, there seems to be no respite from the Coronavirus Pandemic which further reiterates the point that people will prefer using their personal vehicle instead of public transport in the near future. In that case, should you buy a new or a used vehicle - we break it down for you right here.
Top 5 advantages of buying a new car:
1. This is always the first and best alternative for a user as it ensures peace of mind and reassurance that nothing should go wrong.
2. With the purchase of a new vehicle, the owner has assured a full warranty that includes the powertrain, transmission, electronics, and other components on board. In current times, the warranty period covers a time period of 5 years or x amount of kilometers, whichever comes first.
3. In the case of a new vehicle, the cost of maintenance is also on the lower side. For example, for the first one year or so depending upon the brand which you have purchased, it will feature 3 free services offered by the company itself.
4. All documentation like the registration certificate, insurance, and pollution certificate is provided by the dealer. Therefore the customer need not worry about the paperwork.
5. Be assured of uninterrupted service support from any of the company authorized service centers.
Top 3 disadvantage of buying a new car:
1. A lot of planning is required keeping in mind personal finances. Moreover, a new purchase means a certain amount of money is to go either from your pocket or via a procured car loan from a bank.
2. The value of a new vehicle starts to depreciate the moment it leaves the showroom. It is impacted the most in the first to three years from the date of purchase.
3. The total cost of the vehicle includes added overheads such as road tax, handling charges on behalf of a dealer, GST (Goods and Service Tax) among others.
Top 5 advantages of buying a used car:
1. The biggest advantage of buying a used vehicle is that the investment required is much less in comparison to getting a new one.
2. Type in your budget online and a variety of options will reflect in a matter of seconds on the screen of your computer or cell phone.
3. Thanks to selling platforms like Droom, we provide the best possible options along with insurance and vehicle loans.
4. The ownership option is far greater in used cars as one can opt for a larger category vehicle at a fraction of the cost.
5. Through Droom’s Orange Book Value, the buyer has ensured proper documentation and the history of the used vehicle available online. Moreover, the vehicle is certified that ensures peace of mind.
Top 4 disadvantages of buying a used car
1. It is difficult to gauge the actual condition of the vehicle. Moreover, the wear and tear of the powertrain is something that remains a spot of bother.
2. Transferring documentation of the vehicle could be a long drawn process, if not done through the right channel. Droom is your one-stop destination for buying a certified used car.
3. Time to time maintenance is required to keep the vehicle in a tip-top working condition. This means that a bit of expenditure needs to be accounted for.
4. Electronics on-board do tend to pack-up over a period of time which could mean further money spent on either repairing or replacing them.
Which one should you buy?
Well getting a new car is always a better choice given the advantages that it has over a used car. But then again, your pocket should be permitting this purchase. That said, both have their individual pros and cons as stated above. However, given the current condition of the economy and keeping in mind the purchasing power of individual customers,
