New Zealanders love purchasing used vehicles. The average age of the NZ Light Fleet is 13.2 years, according to estimates from the Ministry of Transport. In fact, most of the cars on our roads are used imported cars made in the 1990s. That implies that if they can still be used, many individuals are reluctant to scrap their old used cars. Last year 1, 52, 500 imported cars were sold, most of which were sold on the private buyer market. So here are the pros and cons of buying a second-hand car, if you are thinking of buying one.
Benefits of Buying a Used Car
- Savings on Cost
New car begins to lose value as soon as it is pushed off a lot. It is therefore not news that the cost of a used car is lower than that of a new car. Therefore, the purchase of a used car allows you to buy a luxury car at half the price of a brand new car. But it may also rely on the car’s condition, age and its market value. This also substantially does away with the budget problem.
- Modify according to your will or budget
Most brand new car owners tend to wait until the warranty elapses before their ride is personalized. That’s because changing it would void the warranty for the 3 to 5 year period since it was purchased. If that time is passed by the second hand car you plan to purchase, you are now free to “pimp” your journey.
- Less Depreciation
At a greater pace than that of an existing vehicle, a new car depreciates. Usually, in the first year, some new cars could lose as much as 40 percent of their original value. But this is not the case for a used car. This is therefore where, with a used car, you will win.
- You can easily explore the history of the car
One of the scariest aspects of buying a used car is not knowing the history of a used car. Today, though, it’s easy to learn about the history of a car by receiving the car’s history report from the company. A cars history report will show you the history of the car’s name, its maintenance record, how many owners it had, and crash and repair records.
And a cars history report does not replace an impartial mechanic’s pre-purchase inspection, but before you waste time and resources, it will remove cars from contention.
Disadvantages of Buying a Used Car
- You can’t be Choosy
One of the main drawbacks of purchasing a second hand car is that there are not many options to choose from. Your option is limited to the ones available at the dealership and you need to choose from them.
- Features are Obsolete
Every brand new car that is launched introduces some kind of revolutionary technology. This implies that in terms of features, whether it be safety, performance or entertainment, older used cars inevitably get left in the dust. Don’t expect to get the new gadgets available in cars today unless you spend a lot of money.
- You buy somebody else’s discard
Ask individuals who still purchase new cars why they do so, and many would say they don’t want to purchase the abandoned vehicle of anyone else, and buy all the issues that the previous owner didn’t want to deal with. The chances of purchasing a lemon can be minimized by carefully reviewing the car history report and having a pre-purchase inspection, but it can never be removed completely.
Therefore buying a used car would definitely have advantages, particularly if you are on a tight budget. But the work and money needed to make sure it’s worthy of the road is certainly something that you should consider before you decide to get one.