For many first-time car buyers, purchasing a car turns out to be a stressful exercise looking out for the best available option. References and recommendations play a key role in your decision-making process. The journey of buying your dream car becomes a time-consuming affair, however reviews and comparisons from automotive websites, bloggers help you get a better idea on your search.
In the long run, your buying decision can make a big difference in your financial spends and the value you get for your money.
To help you make the right choice below is a comparison between brand new and pre-owned vehicles based on four crucial factors: warranty, functionality and condition, cost, and value.
The first thing that buyers think about when it comes to a car purchase is the cost. This covers both the car’s price upfront and possible expenses on repair and add-ons.
In the case of a new car, you have to pay a much higher price compared to a pre-owned car. This difference can be around 40%-50% if you plan to opt for an auto loan and up to 30% if you think of purchasing on cash.
However, in the case of pre-owned cars, you may check out low mileage cars which comes with genuine service history and benefits which can be comparable to a new car purchase and you may end up saving up to 30% on the spent.
The second most important factor which makes a brand new car a preferred option is the functionality or aesthetics of the vehicle.
Being newly bought cars, you can enjoy the latest features, smooth engine performance and a good fuel economy with additional benefits like free service contract and other value additions offered by manufacturers.
With the increasing popularity of pre-owned car business, key renowned pre-owned car sellers have made a breakthrough difference by offering handpicked and best quality pre-owned cars which cover almost all benefits of a new car including warranty, low mileage, Service contract, etc.
Most people think that buying a new car is always a safe choice because of the warranty offered. Since new cars would rarely need to have repair work done, there is a good chance that your warranty would mostly cover maintenance work on the vehicle.
However, with some certified pre-owned car sellers in UAE, you can make a better deal on your preferred car models which are sold with manufacturer or re-seller warranty. The biggest benefit is the cost difference between buying a new car and a pre-owned car, however, you still get peace of mind due to warranty coverage.
One last consideration point is resale of new car vs resale value of a pre-owned. Over the years, the depreciation of vehicles has rapidly increased. Statistics show that a new car’s value may decline by as much as 11 percent the moment a buyer drives it home.
However, in the case of used cars, it has the most significant advantage. Having a second owner status these cars eliminates the initial depreciation hit on the buyer. In simple words, the first buyer takes the major hit on price when he/she goes out to sell the car. While selling a pre-owned car your investment does not get affected to a great extent and you end up selling your vehicle at a much reasonable price.
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