Today we’re looking at the pros and cons of buying a new vs a used vehicle on the blog!
Should I buy a new or used car? A question we get all the time here at Cricks. To answer this question first, you must ask yourself another question; how long do you intend to keep your next car? If you answered to yourself 5+ years then new is the way to go, anything you’re planning to exchange after only a couple of years though, is best to be purchase used.
However, it’s not as simple as a long-term plan verses a short-term plan. A used car of course, is cheaper than a new one, but does not come with the benefits of a full manufacturers warranty to keep repair costs low and inconsistent.
At Cricks, our service teams at each of our locations are professional and thorough in their servicing, focusing on top quality repairs while saving your hard-earned cash.
On the opposite side of the coin, new cars, although generally more expensive to purchase, often come with longer warranties and retain a higher re-sale value compared to used models. People often make the mistake in thinking a new car purchase is a no-risk decision, but you must always remember that purchasing a new car is a financial decision above all else and should be budgeted for accordingly before purchase.
Below we’ve distilled some information about both new cars and used cars into a pros and cons list for you, and if you’re still looking for additional information the team at Cricks will be happy to assist you!
We love to answer questions, so the next time you’re in our showroom, feel free to ask us for our thoughts during your appointment.
Advanced Technology: A new car will have all the latest tech features and connectivity, like Apple Car Play and Android Auto. Not to mention engine power, fuel efficiency, speaker systems and safety features such as auto sensors and lane assist, which are all likely to be far more advanced than that of a used car. With so much of our life centred around technology now, it seems logical to keep up to date with the latest offerings.
Freedom of Choice: Most people will know by now that thanks to Covid-19 there are longer than usual wait times on new car deliveries. So, while you may have to wait to get your preferred colour, model, or spec level, you do have the freedom to choose exactly the car you want, down to the last detail.
Peace of Mind: New cars come in perfect condition, without history and with 0 km on the odometer, so it can often feel like the safer choice to pick a new car when it comes down to forking out the big bucks.
Depreciation: While this can be a tricky thing to quantify, generally new cars face a rapid depreciation in value after the first few months of being purchased. If you are thinking of holding on to it for more than a few years, this isn't such a big factor, but if you're looking at swapping it out soon, then used is likely to be a more cost-effective option. However, if you're happy to swap out your car regularly but are worried about the fuss of depreciation and resale value then leasing could be an extremely viable solution for you.
Servicing Locations: Many brands offer the benefit of warranty and capped price servicing much like the generous 10-year Diamond Advantage offer from Mitsubishi. However, this is only valid if you schedule your check-ups at Mitsubishi Dealers or whichever the brand of your new car happens to be. Therefore, taking your car to the local workshop will void your extended warranty. All Cricks dealerships have an outstanding team of mechanics and service staff and by servicing as well as purchasing with us your warranty will be secure.
Cost: While it's generally going to be a slightly older car, the up-front costs of a used vehicle will be cheaper than a new car. Also, as mentioned above, depreciation is not as much of a factor. Depending on what is available at the time, you might find last years model of the new car that you wanted, and at a fraction of the price. It could be exactly the compromise you've been looking for.
Wait time: There is no waiting around for your car to be shipped in before you can take it home. Cricks has 5 dealerships around the Sunshine Coast, each one packed with a huge range of used vehicles to choose from. Once you find your winner, there is a short period between sorting out your paperwork and being handed the keys. You'll be driving away happy in no time!
Inconvenience: Scouring through so many options and sites can be frustrating, especially when you have a specific car in mind. Finding the car you want can take a little more research and leg power than a new car, but saving money can absolutely make it all feel worth it. The benefit of talking to our sales team is they can keep you updated if your dream car does roll into the used car lot, not to mention the sale process is a lot safer than going through a private deal.
Repair Expense: As older cars go; you can expect that there will likely be some wear and tear from the previous owners, depending on how well they took care of it, perhaps even some larger repairs down the track. You will want to ask for a copy of the car's service history before you buy. This does means that there can be unexpected costs that will land directly on you and your unsuspecting wallet if the warranty of your used car has run out. All the cars in our used car lot are serviced and detailed before they reach the public and will never be sold in poor condition. You can also purchase an Autopact Protection Plan from our sales team to help minimize the costs of future repairs.