There’s no doubt about it, car ownership is an expensive endeavour. For starters, you’ll need to save thousands in order to actually purchase the vehicle itself, or you could opt for an expensive monthly repayment plan and purchase a car on finance. Alternatively, you could rent a vehicle if you only need to use it from time to time, though you’re probably better off purchasing your own if you drive every day.
But the above options don’t even start to consider how many extra costs there are with regards to car ownership in addition to the original purchase price. You’ll need to pay road tax, which can add up to a lot depending on your particular vehicle, and you’ll also be required to spend potentially thousands on insurance.
At the end of the day, the costs associated with purchase, insurance, tax, maintenance and petrol usually add up to a rather large amount. For that reason, many people choose to purchase used cars for sale in Canberra, but is that really a smarter way to spend your money?
The Advantages of Buying a Used Car
Before you automatically shun the idea of buying a used car, you might be interested to know why doing so can be beneficial.
- Much cheaper to purchase – A car’s original purchase price can drop dramatically as soon as it’s driven. However, cars that have only driven a few miles are rarely in bad condition.
- Used cars aren’t always unreliable – There seems to be a common myth that buying a used car is a terrible idea because it’s bound to experience a multitude of problems. However, as long as you’re smart when perusing used cars, you can find one that will last for years to come.
- No monthly repayments – If you’re already in debt with the likes of mortgages and credit cards, you might find life much less stressful if you buy a car outright with your savings.
The Disadvantages of Used Cars
Of course, you shouldn’t rush off to your local used car dealer without knowing the disadvantages of doing so. Here are some things you should know.
- It’s difficult to give used cars a thorough inspection – Unless you take a mechanic along with you to look at a car, you won’t be able to tell whether it’s truly in a decent condition.
- They might not be as economical as modern cars – Modern cars are often designed to be as efficient as possible. If you’re looking to help the environment and make a saving on petrol, you might want to buy a new car.
- Warranties – New vehicles will often be covered by multiple warranties, but the warranties on old cars might have already expired.
What Should You Buy?
If you’re looking for a car you know you can depend on and are intending to drive it for years to come, you might be safer buying a new car. However, if you want to save some money and still buy a decent vehicle, you might want to purchase a used car. Just make sure you only visit the very best dealers to make sure you get the best price.