If you’re planning on getting your licence, chances are you’re going to be buying your own car too. The question is, do you buy a new or used car? Your budget will probably come into play here, but if you’ve got the money, you’ll still need to genuinely consider whether a new car is for you.
If you buy a new car, one of the drawbacks is that it loses value as soon as you start driving it. This can be as much as 40% in the first 3 years.
A new car, however, will be more reliable.
You will likely have to pay less for servicing as everything’s new, but you should remember that to keep your warranty, you’ll have to meet minimum servicing requirements.
Your new car will come with a 60,000 to 100,000km, 3 to 5 year warranty.
It will be more fuel-efficient.
It will have more safety features like side airbags.
Your finance rates will probably be lower than on a used car.
Higher value cars have higher insurance rates.
You can order extras to your taste, like mag wheels, body kit, Bluetooth etc.
Great value – opportunity to haggle. You’re free to research the correct value of the car and make sure you don’t pay too much.
It may require more maintenance and be less reliable.
You may have to fork out for replacement parts.
No warranty – unless you buy from a used car dealer who offers a warranty, but then you will be required to get your servicing and maintenance from them.
Less fuel efficiency – unless it’s only a few years old.
Less safety features, but again, that depends on the age of the car.
Finance may be higher compared to a new car.
Insurance will cost less if the value is less than a new car.
It may have fewer accessories, but that depends on the particular car you purchase.
We hope this has cleared up some of your questions about whether to buy new or used. If you’re after affordable driving lessons, you know who to turn to!