Whether you’ve been driving for years or just received your driver’s licence, you have a few options ahead of you:
- Buy a new car
- Buy a used car
- Continue sticking with public transport
Let’s rule out option three, as you wouldn’t be here if you were keen on it. That leaves you either a brand new vehicle or a second-hand choice. So, what’s the best option?
To be honest, both offer great pros and minor cons, and you’ve probably heard about the pros of a used car way more than the advantages of buying a brand new vehicle off the lot.
So, today at Carismo, we’re going to highlight some of the key points of buying a new car.
But first, let’s talk about depreciation.
Depreciation isn’t as bad as you think.
There is no denying that once you drive a new car off the lot, it loses its value. And that’s true across the board.
Car & Drivers says that the “largest doses of depreciation coming in years one and two of your ownership.” The Humberview Group also says something similar, saying that “a new car will generally lose most of its value in the first few years of being sold.”
But that’s where the depreciation stops.
After the first few years, the depreciation value stops dropping as fast, meaning you can still sell your car for a pretty penny. That’s because a) the car is still relatively new and b) if you looked after it right, still in good condition. So depreciation isn’t as detrimental as you think, especially when you consider the other benefits that come with purchasing a brand new car.
Seven Benefits of Buying a New car
Everything is New & Covered!
From the electric windows and Bluetooth to the engine and wheels, everything is new in a new vehicle. What does that mean for you? Fewer repairs, less maintenance in the long run, and more savings, particularly since most manufacturers have a warranty for the first few years, meaning anything and everything are covered. The right auto buying service can help you narrow down your search.
Insurance Coverage
Okay, bear with us a moment. We understand that your insurance will cost you more for a new car than an older model; that’s undeniable. But there’s a benefit to this: you have to get complete coverage, meaning your vehicle will be covered against anything – and we need anything. In some cases, you might even save money – even RateHub thinks so, saying that “new cars are equipped with increased safety features, which can reduce your insurance. Insurers reward safety.” That’s peace of mind you can actually buy with insurance.
Next-Level Safety Features
There is no disguising the factor that newer cars are safer with advanced features. Backup cameras, stability control, emergency braking – safety features have boomed over the last several years, so if you want to protect yourself and your family on the road, a new car can provide you with that comfort.
Resale Value
We touched on this above, and it’s okay to go over it again: you’re still bound to fetch a pretty penny for your vehicle since it’s new, in good condition and still in demand.
Take this example below from personal finance expert Ramit Sethi: “If you happen to choose the right make, you might end up with a good deal. For instance, a friend bought an Acura Integra for $20,000. She drove it for seven years and managed to sell it for 50% of the purchase price. She got an incredible value in the long run with her new car purchase.”
Greater Fuel Economy
Fuel technology has come a long way, which makes fuel efficiency is a hot topic. Thankfully, spending fewer dollars at the fuel pump is the way to go. There’s also the benefit of helping the environment, which is a huge win nowadays.
You Choose the Car You Want
There is no denying the joy that comes with buying a car you want. You get to choose the make, model, style and colour of your vehicle, and best part of all, you get to drive it in its newest condition. There is no greater feeling on the road.
Great Option for the Long-Term
When you consider the reduced cost of maintenance and repairs, the peace of mind feeling of not having to worry about your vehicle breaking down, and the beauty of warranty and insurance coverage, you can see why buying a new car is great for the long haul – 10 plus years! When you think about it, over a ten-year period, you can see why many people are interested in purchasing a brand new vehicle.
The Bottom Line: A Car Buying Service can Turn Your New Car into a Win
Your car is a valuable asset, and you should be treated as such. A new car is not a financial burden if you do the right amount of research, find the time for it, and use the best car buying service and methods possible.
Good luck with your search!
Carismo is the deal-finding car buying service bringing back the excitement of buying the right car at the right price. By combining the thrill of car finding with the ease of online shopping, we’ve made it easier, stress-free and more personalized to finding and buying a new car. Learn how buying a car is fun, simple and stress-free with Carismo – sign up today! Your new car awaits!
