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Buying a New Car vs. Buying a Second Hand Car

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Buying a New Car vs. Buying a Second Hand Car 1

Buying a car has become a very common practice in the present times; it is no longer just restricted to the affluent people. Even the middle class people now feel the need to own a car and are capable of owning one. However, the worry about the expenses is something that every individual has and that is when the consideration of buying a second hand car comes to the mind.

Though at the first instance you might be apprehensive about a how a second hand car might turn out to be and whether or not it will prove to be beneficial or not, yet a careful research and analysis of the available used cars, can help you get a fair deal. Jeff Lupient who is an expert and experienced automotive personnel, despite being the president and CEO of Lupient Automotive Group, supports and writes about the advantages of buying used cars.

He has been in this industry since 1993 and has been instrumental in the immense success of the company. His expertise and experience enables him to look after the overall overseas marketing strategies and operations of the family business. His excellence lies in his aptitude for automotive dealership, business development and sales.

The first discredit when comparing the two categories goes into the bag of the new car, it is pertaining to the price. Any day, the cost of a brand new car is much more than that of a used one; and in situations when the funds are limited; it is but a wise decision to opt for a second hand car instead of a new one. In fact, the additional costs that are often taken as preparation fees or some other similar thing can be totally avoided if a used car is purchased directly from the seller.

The depreciation of a car in terms of its value is the next thing to compare and there too the used car wins hands down. A new car’s value depreciates considerably in the first year of its purchase, but with a used car you will not have to worry so much about its depreciation, as it has already been used by someone else. The moment you buy a brand new car its value depreciates at last 15% and can drop to thousands of dollars, alternatively the used car has a declining depreciation.

Jeffrey Lupient mentions in his blog that while buying a brand new car is not all disadvantageous, buying a second hand car cannot be all advantageous as well. It is not something that comes with a ‘fit for all’ tag. Both the situations have their own pros and cons and thus it depends solely upon the discretion of the buyer.

One major disadvantage of used cars is their rate of interest that is much high in comparison to a new car. Also buying a new car entitles you to enjoy a warranty for a period of time, which proves quite helpful in the long run.

Since a car is no more an item of luxury, it important for a buyer to put in a lot of thought as well as research work before purchasing one and select the one that suits him best.

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