The debate on whether to buy a brand-new or used car never dies, and there are a lot of good points on either side of the argument. Here, however, are five really compelling points to swing the decision over to get a brand-new car.
The price tag outweighs the other costs. Sure, a used car is a lot cheaper than a brand-new one, but it comes with its own costs. Used cars, for example, will require a lot more repairs than new ones, which means you’ll have to spend more on parts and service fees. Let’s not forget the amount of time you’ll have to spend bringing the car in for repairs, waiting for it, and then driving it back home. That downtime really adds up!
Depreciation doesn’t always matter. A lot of used car advocates warn you that a car’s resale value depreciates the fastest in its first three years. We’ll admit it—it’s true. But resale value only matters if you actually plan on selling your car in the first place. If, like most people, you plan on buying a keeper and driving it for years and years, then depreciation is a non-factor.
Swanky new tech = safety. Technology improves exponentially over the years, and this holds true in car manufacturing and design. Today’s cars roll out of the plant with breakthrough safety features that might not have been in yesteryear’s models. If you put a premium on safety—and you should—then buying brand-new is the best way to go.
Convenience. Buying used cars is a hassle, plainly put. The amount of time it takes to browse through ads, contact people, meet them, test drive the car, and finally make the purchase is pretty significant; not to mention the energy you exert doing all that will leave you spent.
That new-car smell. Is there anything on God’s green Earth that smells better than a new car? No. No, there isn’t.
Buying a new car is a lot easier than ever with a BPI Family Auto Loan. With fast and easy on the pocket financing terms to meet your every need, getting the funds for your first car is a cinch.
To know what brand new car you can afford to buy, click here.