Just like buying a new house or getting married, purchasing a new car is a decision that you take lightly. It requires thorough thinking and careful planning, to prevent regrets and misgivings later on.
Whether it is a car is fresh from the dealer or pre-owned, there are benefits and pitfalls to each that we need to consider. Philkotse.com has come up with some of these points that might help you better decide on which is best for you and your family.
1. Is a brand new car for you?
Brand new cars would surely cost more so if you feel like this is for you and your family then you need to understand that you would need to shell out more financially.
But bear in mind that although it costs more, over time, it actually is not that much more and the car’s value not in monetary value can grow and become higher.
Most buyers opt for a brand new one due to the warranty that comes with it. A warranty is a guarantee from the manufacturer that they will repair your car in case it gets damaged within a certain period of time.
Terms and conditions apply of course. A brand new car usually does not need any repairs within the first few years. This gives you the opportunity to focus more on just maintaining the vehicle.
>>> View more: Top reasons to buy a new car in the Philippines
Brand new cars would surely cost more so you need to understand why you would need to shell out more financially
Most of the major companies offer the usual three years of warranty while some offer up to a total of 5 years on specific car models. This usually starts the day that you purchase the vehicle. It is imperative to keep track of this date to make sure you get to take advantage of this particular benefit.
Another reason why brand new cars are the best buys because the car is guaranteed to be in 100% running condition upon purchase. There would be no need to tweak or replace parts or to have it go under full maintenance.
It is a fresh vehicle without any issues giving the new owner that confidence that his or car is in its finest state. It provides you that feeling of reliability towards your car.
Ownership can rather be complicated and purchasing a brand new car means that you are the first owner. There is no need to transfer ownership or settle any documents. The car is yours and it has your name on it.
Another reason why brand new cars are the best buys because the car is guaranteed to be in 100% running condition upon purchase.
So if money is not a problem and you like a straight forward and guaranteed clean transaction then a brand new car is definitely for you.
2. Going for used cars
Used cars definitely have an advantage when it comes to cost because you are less likely to get hit with the dreaded depreciation. Used cars are considered to be the most practical option.
Most people though associate used cars to ongoing car troubles and mountains of repairs and replacements. This is not always the case. Yes, a major disadvantage of purchasing new cars is the uncertainty of its history but this can always be remedied by requesting for a history check.
Used cars are not only cheap but it also comes with several more advantages that’s why a lot of people go this route.
>>> Also read: 7 must-know things to consider before buying a used car
Used cars definitely have an advantage when it comes to cost because you are less likely to get hit with the dreaded depreciation
Used cars are generally dependable because it has been tried and tested. Since it is worth is lesser, the insurance cost tends to be lesser too when you are considering collision and full coverage. Aside from the insurance costing less, the registry renewals are cheaper too as this gets lesser every year.
It is a matter of perspective so you get a ding in your door? You won’t be too stressed too much about it but if you get the tiniest ding on your brand new car, then that’s a real bummer.
If you are about to purchase a used car, kindly refer to our used cars for sale in the Philippines list to find more option at a reasonable price.
3. Pre-owned cars as an option
Surprise! Yes, there is now a third option added to the new and used cars. A lot of potential car buyers are looking more closely into nearly new cars as the best option.
Nearly new cars come from a dealer’s demo fleet or from their pre-registered stocks. These are cars that were previously purchased by the dealer himself for whatever reason but mostly to meet the quota or sales target.
This option gives you the advantages of both new and used cars because it allows you to enjoy the modern and safe cars without the ‘out of the showroom’ devaluation. The price can also be said to be reasonable for the purchase.
If one is a bit concerned about the paper works though, there is that extra name always present on the registration document. This might affect the car’s value when it comes to resale. Another thing to consider is that your choice can rather be restricted.
Nearly new cars come from a dealer’s demo fleet or from their pre-registered stocks
Nearly new cars would definitely have a few thousand miles on it but this will not in any way be a negative impact on their driveability or to their appeal. Others might be put down with this but most practical buyers will let this slide and would weigh higher the fact that nearly new cars allow them to save money while still getting almost the same perks of a new one.
These kinds of cars have somewhat lost a percentage of its original worth before you buy it so it means that the original owner was the one who suffered the bulk of depreciation rather than you.
Nearly new cars would definitely have a few thousand miles on it but this will not in any way be a negative impact on their driveability or to their appeal
For those interested in nearly new cars, you have to make sure that prior to purchase, you confirm the exact build date of the pre-registered car with the dealer. There are cases where you think you are buying a 2017 car but it could actually be a 2016 model. This little detail will impact its value when you plan to sell it in the future.
4. Final thought
New, used, or nearly new? The most important thing is you weigh each car’s pros and cons and that you set to your budget. It’s a buyer’s market anyway so if you can’t reach a great deal to the car you badly want, then just look longer and don’t worry because somewhere, there’ll be another deal and it might even be better than you dreamed of.