All dealer ads and superb showrooms in Thailand will constantly beckon you to buy that slick cutting-edge car you’ve always dreamt of driving. If you need a car to take you to work without the extravagant prices, buying a used car is ideal. This will guarantee the same convenience and satisfaction that a new car provides and saves your money. Used cars on average are 50% cheaper than new cars and you will be able to pay for the car during a shorter period and also save some cash. You can also get two cars for the price of one as a new car value depreciates by 11% once you start driving it off. Address your specific needs before purchasing the most expensive car that you can afford. Ask yourself these questions before making the right decision when it comes to new vs used cars.
Do I have enough maintenance money?
You will be saving a lot more money on maintenance for a new car than you would with a used car because, after purchase, many automobile manufacturers offer free maintenance for a period. It’s important to have the used car thoroughly inspected by a qualified mechanic to see whether it is in good condition if you are considering buying a used car. Also, ask for a detailed vehicle history report to avoid getting a car with too many complications. However, a used car will need more maintenance than a new one even though nothing is broken. Things will eventually wear out and you’ll need to replace them more quickly. You will enjoy the remaining benefit of a new-car warranty if you purchase a relatively new used car. Many dealers who sell cars will also offer a limited warranty at a slightly higher cost when one is purchasing a used car, therefore, check the terms and conditions before purchase.
How will I take the depreciation hit?
The depreciation costs aren’t something you are expending, you will realize it when the time comes and you want to sell your car. Cars are among the assets that initially depreciate quickly, slowing down over time. A used car is typically the better choice for this simple reason.
Can I deal with my car’s frequent visits to the shop?
Having a used car will require repairs which if they are small it will take a couple of hours or days but if it’s a major repair it could take a week or more. For new cars, however, they tend to spend less time in the shop and some dealers who sell cars can offer you a temporary car for you to use during that period. Buying a used car will make you spend time in the shop and you may get along without it for a little while.
Do I have money for a down payment?
If you have a good credit score, you won’t have too many problems purchasing a new car with a nonexistent or small down payment. Car dealers and manufacturers want to give you a good reason to purchase a new car rather than a used one. Discounted financing options, rebates, and cash incentives are ways dealers lure buyers to buy new cars. When purchasing a used car, you’ll have to pay a down payment in the form of a trade-in with equity or cash.
The process of finding the right car is slow, don’t rush it. There is always a chance that you’ll find a new car which covers those down payments requirements and has a fantastic mix of manufacturer incentives.