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Disadvantages of buying a New Car

When you can buy a used car in half price then why to waste the other half price in same car. Instead of that, you can use that money for 2-3 years of fuel and other maintenance expense.

Buying a New Car

Going for a new car is not only the fashion or Trend but it also a requirement to maintain our buy life. While some people have enormous money who can buy new cars without any research and securities but most of the people are in middle class who plans and make strategies before going for a new car purchase. Here we will discuss few important aspects which must be considered while going for a New Car.

In the market, we have top options for a car purchase i.e. Buying a new car or buying a second-hand car. And both of the options have their own advantages and disadvantages. Here the individual needed to decide which of disadvantages they can bear or ignore.

Disadvantages of buying a new car

  1. A new car always costs high and needed one time fixed payment or regular installments with interest.
  2. New Car deprecated very fast and it can break down up to 40% in first year.
  3. There is heavy cost of insurance and other paper charges for a new car purchase.
  4. The new car will new be new and after a few weeks or months it starts getting scratches or other kinds of damages and that totally depends upon your handling condition.
  5. You might face manufacturing defects.

On the other hand, we have significant reasons to buy a used car and that seems also worthy. But few factors are totally dependent on buyers situation like whether they can’t afford a new car then they have to bear some scratches or dent marks on the old used car.

disadvantages of buying a new car

Advantages of Buying a Used Car

  • You can get a Used Car at a good price compared to a new car.
  • Less insurance price and other tax papers.
  • Well circulated engine and tested for long-distance as per seller reports.
  • Last but not least, the value of the used car will not depreciate as much as compared to the new car.

Still, if you’re planning to buy a new car and looking for car loan or finance then you can check Carmax bad credit loans and check your eligibility there.

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Harish Yadav

Finance and market analyst and chief writer on howtofinance. Passionate to read books and articles on marketing and accounting. Also edits other articles and publish them here.

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