Is it better to buy a second hand or brand new car?

There is no definitive answer to this question as it depends on so many factors, such as your financial budget. We have, however, put together the following top tips for when you’re considering whether to buy a second hand used car or a brand new car. On the whole, I think the argument may lean towards buying a new car but take a look at the thoughts below to help you decide what is best for you.

1. Cost

At the moment there is a big demand for second hand cars and as such the prices have been pushed up higher than you might expect. It’s worth looking at what free guarantees and services come with a new car. Free servicing or guarantees will obviously save you money over a period of time and is a clear benefit over a used car. Assess the difference in insurance costs and road tax charges for both a second hand car and a brand new car to see if there are any savings to be made by having a newer, more modern car.

2. Finance

To work out how you’ll manage the payments for your car, and what options are best for you take a look at CarPaymentCalculator.net. CarPaymentCalculator.net is an online tool to help you find the best auto loan payments, they also have an auto lender review guide to help you find the very best current rates from top nationwide lenders.

3. Fuel economy

A newer car will have a greater fuel efficiency than a used car that is an older model. At a time when all our bills are rapidly rising this is a consideration. There may well be huge savings to be made to your monthly budget if the car you purchase is substantially newer than the current car you have.

4. Environmental impact

There is an environmental impact made by the cars we drive. If you’re opting for a new car you’re more likely to have greater choice to limit that impact by choosing a ‘cleaner’ car. You could consider purchasing a car which runs on electricity or perhaps a hybrid. This needs to be weighed up against the environmental cost of second hand used cars being scrapped. Looking forward, the push for environmentally friendly cars is going to be greater as time goes on and these will be the cars which hold their value.

It is so important to work out what you require from a car so that you can find out whether a second hand car or a brand new car is better suited for you. There are so many different factors to consider and so many of us have unique circumstances that may come into play.

Would a second hand car or brand new car suit you best? Let us know what you look for when you are on the market for a new car for you and your family to use – what unique circumstances do you have?