BUYER’S DILEMMA : New Vs Used :-?

Buying a car is a BIG Decision and when we reach that juncture in life a BIGGER questions arises: to Buy a NEW or USED car.
Although it depends on one’s personal Preference, economic scene etc..but here are few pointers that can help you in making this decision
Pro’s of USED CAR
1) Low Depreciation:
New cars lose about 40% of their value within 3 years, at which point the depreciation starts to slow down.
With used cars, the previous owner has absorbed the biggest or steepest portion of the depreciation cycle. You buy at the beginning of the low-cost part of the car ownership cycle, and almost all of the costs of owning and operating a car will be reduced. Some of the benefits of buying a used car include:
2) Lower purchase price
3) No sales tax
4) Lower financing costs (in the form of fees and interest paid)
5) Lower registration and license fees (which are usually tied to the value of the car)
6) Lower insurance premiums

Con’s of USED CAR
1) Less Excitement : for some people it may not sound as exciting as owning a brand new vehicle.
2) Reliability : The chances for expensive unwarranted repairs can be higher, which can reduce the reliability,unless you get to some reliable information the car’s background history.
3) Surprise expenses : Chances of expenses may be on the horizon such as replacing the tires, battery, brakes, and muffler etc.
4) Limited Choice: Buying a used car may limit the choice of color and features.Although its not mandatory one can be lucky enough to get what they want.

Pro’s Of NEW CAR
1) Low maintenance: Since its a brand new car it won’t need maintenance for the first several thousand miles, and then only an oil change and tuneup are required. Some manufacturers even cover the cost of those routine maintenance items. The new vehicle likely won’t need new tires, a battery, exhaust system or brakes during the first few years of ownership.
2) warranty coverage: The manufacturer covers its new vehicles under warranty for at least three years, and some warranties last even longer. With manufacturer warranties, if something goes wrong it’s the responsibility of the dealer and manufacturer to fix it.
3) Peace of mind: Of course if you are not financially restrained then you always have your peace of mind due to the assurance a new vehicle comes with.
4) Choice: With the new car you always have abundant room to choose the colors features etc. of your car.
5) Easy Financing : With the economy currently in boom you will get easy financing.

Con’s of New CAR
1) It cost more :( .
2) New car depreciate rapidly.
3) Higher insurance rate and taxes.