Despite flashy and rather appealing advertisement on new vehicles, the price tags are not as flashy. It is public knowledge that buying new cars is a poor investment. The depreciation rate attracted buy such automobiles make slightly used cars a cleverer decision to make. Nonetheless, under certain circumstances, more benefits may come forth with the purchase of a new car as opposed to it being just a luxurious indulgence. Here are some of those situations.
With the exponential growth of technology going on lately, the automobile industry has not been left behind. Vehicles are becoming smarter and more computerized by day. The technology revolutions have enhanced feature such as safety, stability control, blind spot monitoring, self-drive capabilities among others. These advances are making automobile rides safer, faster, more comfortable, and luxurious. What is more exciting about such technology is its spectrum of support. Not only does it come fitted in high-end vehicles but also affordable budget ones. Unfortunately, most if these technologies are in newer versions of cars hence anyone interested in enjoying it has to spend obscene among of money involved in acquiring a new car, compared to the cost of somewhat used ones.
Latest regulations on CO2 emissions as well as reducing amounts of crude oil deposits has driven the automobile industry’s innovations to very new levels of fuel efficiency. Technologies such as automated engine stop/start systems and cylinder deactivations technologies as well as design based vehicle improvements such as lighter materials and improved aerodynamics are making today’s cars more efficient, which is an obvious lure to motor users. Lesser consumption results to fewer gas bills!
Alternative energy advances
Currently, vehicles that run on pure electricity are in the market. More popular but a bit less on efficiency are hybrid ones that run with minimum amounts of gasoline and a complimentary electric system. Companies such as Nissan, BMW and Ford are all investing heavily in reducing energy cost per mile driven. Tesla, a pioneer of fully electric car, make all these other companies look like energy guzzlers. They have achieved incredible ranges with their batteries, for instance, with the latest model 3 Tesla promising a range of up to 230 miles per charge! We all need the best experiences for less. Most of these vehicles are yet to integrate into the used car markets. Therefore anyone interested in one has to buy the new one.
Financial institutions offer more attractive financing to new vehicles than they do to used ones, and Interest rate, as well as terms, are more flexible. Here is the paradox, new car loans will take longer in repayment, but buyers obtain low-rate or no-interest car loans. This empowers a person, whom without the facility, will have to opt for a used car
The trick to securing a hefty discount is choosing a vehicle from a not-so-competitive segment, maybe a poorly moving model or left over from previous years’ releases. Don’t get me wrong, the vehicle will still be new but with newer models available in the market. Other favorable times may include the end of month, year of release and model as well as an end to a calendar year. Such discounts will make spending money on a set of new wheels worth it better than on used ones.
New vehicles ship with warranty cover. Some of them have remarkable generosity attached. Some fantastic offers based on warranty span across light parts replacement, extreme makeover to the replacement of vehicles at not cost. Some warranty incentives include powertrains with a mileage or time limit attached, rust and battery warranty among others. Hyundai and Kia are known to be with the best warranty programs. Warranty services can only be enjoyed by initial vehicle owners for most used vehicles are past their warranty terms at the time of resale.
A state that commences with unwrapping a new automobile, through everyday usage, condition and care is bound to be determined simply because one is the first user and any problems experienced with the vehicle will be known to its first buyer. Nevertheless, a new car is rarely a problem, and for the few cases that are so, warranty protects such car owners. It is very plausible to get cheated on the condition of a car by dealerships, having been baited with low-priced used vehicles. Hence to avoid such hustles, an option of going for a new car may end up winning. It is, however, intuitive to point out that if it was our decision to make and not bank balances, we all would want to have a new set of wheels.