Buying a car is not an easy task. With countless brands and their hundreds of models in the market, it becomes tough to put your hands on one. And with the introduction of new features in each model, it becomes even more intricate.
Many of us think of purchasing a new car, but we refrain from it. This is because we don’t want to burn a hole in our pocket. Therefore, we often incline towards buying an old one. But, the thing with used or old cars is that they are less reliable and incur high maintenance costs.
On the other hand, they are less expensive and have low taxes too. These factors may intrigue you to opt for a used car, but it might not be beneficial in the long run.
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Why do people buy a new car?
When you have an option to buy an old car, the choice for a new one may put you in a dilemma. So, here are some reasons that support the idea of buying a new car.
1. Technologically Enhanced
Technological features are one of the key aspects that can highly impact your decision. The cars made today come with some pretty remarkable features that enhance the security and overall driving experience of the users. Here are some of those features:
- Adaptive cruise control: This feature helps your vehicle stay at a set speed while adjusting it as per need to ensure safety.
- Blindspot information: The car informs if there is any vehicle in the blind spot.
- Lane departure warning: This feature warns you if the car switches the lane.
- Cameras: Some cars also come with dash cams that help in recording your journey or, in the worst case, a mishap for evidence. The rear cameras of the car assist in parking and monitoring traffic.
These are just a subset of tech features that you might get in a new car. The old car may not have these advanced features. Hence, it is best to get a new one.
Think about a scenario where you brought an old car, and after some time, you started facing issues with it. What can you do in such a situation?
You cannot go to the seller for a warranty as it was not a new one. You have to get it fixed yourself and who knows how much it will cost. Even if you can get it fixed from somewhere, what if there is no availability of car parts as it is an old car. What if the manufacturer had stopped producing the car parts. You will be in a really messy situation.
And in most cases, the owners of the old car may not convey to you every necessary thing that you need to know. They may keep some things as a secret to somehow sell it.
Hence, it is best to get a new car. Yes, you will lose some extra bucks from your pocket. But, you will be free from any sort of frequent repairs. Moreover, you will get to discover various new features of the new car.
Every car engine comes with a warranty period, and if it fails after that, it may cost you a lot to get it fixed. Moreover, it is pretty obvious that a vehicle starts losing its mileage after some time, no matter how you drive. This fall may be a significant one or just a minor one, but it will surely be there.
A new car will have an elevated mileage number as compared to the old one. By purchasing a new car, you can try and keep efficiency consistent for a long time. As you can work well on your driving habits, it will be easy for you to keep the new car fuel-efficient.
On the other hand, an old car might not be a great option as you may not know the driving habits of the previous owner. And once the engine parts have worn out, they cannot be fixed unless you shell a hefty amount for it.
The average miles per gallon for a car in the US is around 25. Hence, having a highly efficient new car can help you cover the initial price in the long run.
Incentives are a great way to lure in potential customers. The government of many nations try to promote the use of eco-friendly vehicles to attract buyers. For instance, electric cars and those running on natural gas to attain sustainable environment goals.
The government may offer you a tax credit of $7,500 if you purchase an electric vehicle. At the same time, a natural gas-powered vehicle can award you a tax credit of $4,000.
So, purchasing a new car can save you a lot upfront.
5. Retains Value
It is true that a new car starts depreciating the moment you start driving it. But, it is not the same in the case of all cars. There are some car models that retain their maximum value for a longer time as compared to other cars.
These cars are driven by people that prefer function with fashion. They usually invest in high-end cars to elevate their social status. Hence, if you will invest in a more specific and popular car, you may get the maximum value of it even if you have driven it for a long time.
Jeep Wrangler, Toyota Tacoma, Porsche 911, Nissan GT-R are some of the cars that have the lowest 5-year depreciation.
In short, we can say that there are a plethora of benefits of buying a new car. However, it requires a lot of planning and research. The high price of a car is directly governed by the top-notch features in it. So, it is necessary to align your priorities before buying a new car. If the car has some features that you don’t need, you can go for the lower model that has just the basic features you need.