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Read more: Car Buying Guide and Tips | How to Choose the Right Car |

What to choose, new or used?

You can buy a new car but it entails a complicated process when it comes to ownership. It is because you may have afforded to buy a new car but to have it owned would mean a need for financial stability. It is simply because of the monthly payments (if it is in installment), the operating expenses (including repair and maintenance), the gasoline you need to make it work so you can travel, insurance and taxes paid annually.

So if you are having a hard time thinking whether to buy a new car or a used one, consider some things in making your decision.
It will incur you more costs when buying a new car even if the financing is zero percent. Either you buy or lease it, a new car would still cost more than a used car. Yes, you can have a new car especially if you have closed a deal but the contracts linked with these cars are not easy to get out especially when your mind and the situation have changed.

So if a new car is costly, you can opt for a used car that is still in a good condition. Try a car which has been maintained well for about three to four years for it can still serve you for about four years with a cost of approximately 60%-70% of the purchase price. You just have to get it inspected before purchasing, so you would not regret not being able to notice some defects which could have been hidden.

If you want a car and want it to be traded after a few years, choose a car with a lesser depreciation rate. So before buying a car, try to calculate how much will its salvage value be at the end of your use by looking up at the current-trade in value of the car model which has lived for the same number of years.

For example, you will buy a car worth $20000 and you want it to be traded after three years in which you will get an amount of $8500. The depreciation would be $11500 or a lost value of $2875 per year. So, you need to think if that rate is enough to give you a gain after three years. Bring with you a calculator for computation when buying a car; it could do you help.

Of course, when selecting a car you must take into consideration its safety rating. There is no such car which is perfectly safe, but there are models which could provide better protection in case of car accidents. There are automobiles which have features such as anti-lock brakes, vehicle stability control and traction control. To check out the ratings of car crash test online, visit SaferCar.gov.

Another thing you need to remember in buying a new car is to make sure it is reliable. Cars are not the same—others may be reliable but others may also give you problems. An old car’s warranty could have been expired by the time you purchased it, so you need to make sure that you examine the warranty very well.

You must also consider its fuel efficiency. It must not make you spend a high amount of fuel everyday, as the prime reason of purchasing a used car is the price. Besides, if your car is fuel efficient it could contribute to the preservation and protection of the environment due to less pollution contribution.

Cars cannot do away with emissions brought by the engine’s burning fuel or the fuel evaporation. In fact, cars of today are a whole lot less harmful when it comes to emitting things as compared to cars during the 60s and 70s. But with the combined emissions of the various cars found on the streets, it will still cause pollution.

These are just some guidelines you can consider in buying a car.


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