If you’re in the market to upgrade your car you’ll probably be looking at a newer model, used vehicle.
Typically, used cars are a lower-cost and higher value option than brand new cars, but people are finding that buying new can have a lot of benefits.
Here’s why we think new cars are so popular right now.
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1. Superior Safety Technology
Significant advances in automotive technology means safety features in new cars are more intelligent than ever. If safety is the number one priority for you and your family then buying new is the best way to go. Yes, you’ll pay more for a new car, but in return you’ll get the best safety features money can buy, such as:
- Automatic braking systems
- Stability control
- Blind spot assist
- Lane departure warning
- Rear view backing monitor
You don’t even have to buy a high-end or luxury car to enjoy these developments; many economy brands are starting to introduce them.
2. Excellent Fuel Economy
It’s never cheap to fill up at the pump, but this is especially so with an older car. Engines get dirty and don’t run as efficiently as new cars. New cars also tend to have a higher fuel efficiency rating these days, even compared to used models that are 5 years old. If you plan to spend a lot of time driving in your car then there’s definitely benefits to be had in the long term with the savings you’ll make in petrol.
3. You Know The History
Buying a used car is a good idea if you plan to only keep it for a few years and then sell it (link to Metal Biz) or trade it in. But if you’re wanting to keep a car for a longer period, say 5 to 10 years, then it’s best to buy new so you’re the first owner. The benefit of this is that you know the car’s history, unlike a used car where you won’t know how it was driven, if it was serviced regularly or if it has been in an accident. Everyone looking for a used car wants the history scenario of one owner who drove it only on weekends, but it’s usually not the case.
4. You Get A Longer Warranty
Some new cars come with a 5 year warranty (rather than the standard 3), so it’s even more peace of mind that you’re covered for a longer period, and you can get it fixed or replaced at no cost. Some manufacturers of low cost brands, like Kia or Hyundai, come with added protections such as rust warranty, powertrain warranty and hybrid battery warranty.
5. Very Low Financing
Being able to buy new was once out of the average person’s reach because of the higher price tag. However, with extremely low interest rates becoming more available, new cars are now a much more attractive option. The payments will be higher than a used car and it will take longer to pay off but you won’t pay as much interest as you would have historically.