When it comes to buying a car, there is always a doubt about the best option. Should you buy a new or old car? Which one has more benefits? What should you consider before the big purchase?
Buying a car is challenging; there are plenty of things to keep in mind. Whether you are an experienced driver or just got your license, this problem still remains. Meanwhile, in Jacksonville, Florida, owning a car is a necessity. Public transport is not good so getting anywhere will take forever unless you have a car. Even then, traffic is a big problem. But, finding used cars for sale in Jacksonville is simple; there are several dealers there. Also, since the price of new cars is up by 12.2%, it probably is the right time to invest in a used one. But let’s get into what you must consider before you make that decision.
What You Need to Consider Prior to Making the Decision
When considering what is better to buy (a new or old car), you have to look into the current price and costs you will have to endure in the future (on gas, maintenance, etc.).
For a new car, you will have to make payments on property tax, down payment, taxes, car insurance, maintenance, repairs, and gas. Though you won’t have to pay to repair it, these other costs will be a lot. On the other hand, you will have to spend a bit on maintaining an old car. But you get to pay less interest on a loan and lower insurance premiums, and the car will cost less. Moreover, the cost of the car is not the only factor; you need to consider the following too:
The main advantage of getting a new car is that you will get a warranty with it. This lasts a while and also covers any issues the car will face in the first couple of years. Besides, you should know that sometimes, a used car also comes with a warranty. However, it all depends on the seller.
Getting a new car would give you the latest technology; newly launched cars have the latest features and better security. Meanwhile, a previously used car will lack these extra benefits, but they will have their old technology. In short, features like digital radio, Bluetooth, and maps may not pop up on a TV screen.
3. Car Insurance
There are two types of coverage: you could get a comprehensive plan or a third-party policy. While the comprehensive plan covers both own and third-party damages, the third-party policy only covers third-party damages.
So, usually, a used car’s insurance costs less than a new one. But the repair cost for an old one will certainly be more than for a new one.
New cars arrive with all the latest safety features. And although they will be more reliable, it also means that they will cost more and require a higher insurance premium.
Since used cars for sale in Jacksonville have been used previously, their value would have depreciated. Thus, it is a good option when you are on a budget. Meanwhile, getting a certified pre-owned car will mean that you have to spend more than a non-certified car, but it has its benefits. So, the main points to focus on are the cost of maintenance, gas, repairs, and insurance.