This is probably the first questions that arises in the minds of most car buyers especially the first-time buyers as to which option should they go with?
Financially, it might not be a very viable choice to go for a brand new car if a second-hand one fulfills your requirements.
For example, if you are very new to driving a car or are still in the learning stages, buying a new car means you will always be under the tension that you might damage your car and the repair will cost much more as compared to the damage on a used car. There are plenty of things you need to consider while buying a car. New or old does not matter unless it is for the long run.
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Here is a little breakup of pros and cons to help your decision making better.
1) Used Car – Pros
- Doesn’t empty your entire bank balance as much as a brand new car can, which means that for the same amount of money, you can opt for a model from a better and higher segment.
- Value depreciation of most used cars is considerably lesser compared to a brand new model over the years. Selling it off will also not bite as much.
- Lower depreciation of a used car translates into much better resale value when you decide to sell the used car after its services are over for you.
- Used cars generally attract lower car insurance premiums than the new cars.
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2) Used Car – Cons
- A used car will have far less equipment and comfort as compared to the latest model in the market, which means less safety features.
- Tracing the accurate history of a used car can be difficult to ascertain its maintenance and service record.
- Maintaining a used car (that has seen many owners) is usually more expensive than a new one which means higher ownership costs over the longer periods of time.
- Correct and spotless documentation is generally difficult to come by, especially the accidental history and legal matters the car might have been involved in.
3) New Car – Pros
- You get the pleasure of ownership of a brand new car as well as bragging rights.
- There is no worry of legal or accidental history.
- It’s probably the latest model available in the market which makes it feature-rich and updated with the latest safety equipment.
- There is an overall comprehensive warranty with a brand new car for a period of time or based on the number of total kilometres it reaches. This offers peace of mind to the car owner.
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4) New Car – Cons
- Way more expensive compared to a second hand model of higher specifications.
- Its value will depreciate much higher and quicker in comparison to a used car.
- Its initial insurance premium costs will also be higher in the beginning.
Generally, if you plan to drive a car for more than 5 years, it is smarter to invest in a brand new car that comes with extended warranty plans. This will give you peace of mind, lesser costs in repair and excellent resale value.
If you plan to shift places, drive very less. Only for small commutes and emergencies, a second hand car is a better option in those circumstances. However, buy only from trusted sources like Mahindra True Value outlets and get the car checked by a reliable mechanic who will check the car for integrity and overall feasibility.
Whatever type of car you will buy depends on your choice, but you will always need spare part replacement even if the car is new or old. Contact BP Auto Spares India for all your spare parts replacement needs if you have a Mahindra vehicle. They have massive stocks of Mahindra Parts and Mahindra spare parts. They are also the nation’s largest stockiest of Mahindra truck parts, Mahindra Scorpio Parts and Mahindra Bolero Parts. You can also buy spare parts of other brands from them.