Blog | Emirates List

If you’re a car lover who’s looking to buy your next car, you might be wondering whether you should buy a new one or a second-hand one.

With all the bells and whistles of a brand new, 0-meter vehicle being advertised to you everywhere you go, it’s easy to find yourself dreaming of owning one. But is that what you really need?

While it’s true that nothing matches the feeling of driving a new car straight out of the showroom, this luxury comes at a price! Before you make your decision, do a cost-benefit analysis to see if it’s actually good value for money.

Here are a few factors that can help you decide.

Second-Hand Is Cheaper

Did you know that you can get a used car that’s almost like new for half the price of a new model?

Most people keep their car for about 6 years, which means that you have better prospects of upgrading your ride after every few years if you buy used. You might even be able to gather enough funds to buy a brand new four-wheeler if you settle for a second-hand one right now.

Depreciation Of Value

It’s not a myth that the more you use your car, the more its value depreciates. The moment your brand new purchase leaves the showroom, its value starts falling. In fact, the depreciation of a vehicle on the first drive amounts to 11%! 

The bulk of depreciation falls heavily on the early years. However, with a used car, that phase has already passed, meaning that its value won’t experience a precipitous drop. The car can even appreciate in value over time!

No Exaggerated Fee

It’s not unusual to find hidden charges in the fine print of the purchase documents of a new vehicle. You might not realize it at first, but you’ll end up paying over and above the stated price of a new car.

These additional expenses can include shipment costs, destination charges, and dealer expenses. You may be paying 5% of the total value of the car in extra charges. There are fewer hassles when buying a second-hand car because you don’t have to worry about additional costs.

Expensive Dealership Add-Ons

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If you’re buying a new car, you’ll have to get it customized through expensive dealerships. But with second-hand vehicles, you can save up on the inflated prices of add-ons by installing one yourself for a much lower cost. This way, you can get a fully functional, customized car for little over half the price of a brand new car without add-ons!

Warranties

If you’re worried about warranty with used cars, don’t be. Quite often, second-hand cars also have partial terms of their warranty remaining. If not, others sometimes offer a renewal of warranty.

With an extended manufacturer warranty, you can avail the services of trained technicians for a car makeover. This way, you can repair parts with quick service. Also, you can invest part of the money you saved into getting a new warranty that covers a certain mileage.

Looking for used cars in good condition?

Emirates List allows you to search for ads in the categories of automotive, property, rent or jobs. If you’re searching used cars for sale, this is the platform you should check!