Should you buy a new or used car?

The choice of whether to buy a new or used car is a purely personal one, but there are plenty of arguments to support both choices. Used cars are a more environmentally choice on one hand, as you are re-using an older vehicle, but on the other hand new models may be more environmentally friendly and have lower emissions. There are a number of things to consider which can help you to make this difficult decision – here are just a few.

carDo you already have a vehicle?

If you’re buying your first car, chances are you want to go for something new, or nearly new. However if you already have a car, you could get a great deal on car exchange in Portsmouth. You can trade in your existing vehicle for a shiny, newer model or decide to get something different entirely. Always dreamed of a shiny little two-seater sports car? Exchange your family people carrier for something a bit sportier!

What’s your budget?

Budget is probably the most important deciding factor for the majority of people when it comes to the decision of whether to buy a new or used car. If your budget is tight, you’ll probably find you get more for your money by exchanging your car or just buying a used car on finance or outright. Do shop around though as many new cars are available with competitive finance deals which could help you spread the cost. Think carefully about your overall budget and how much you could afford to spend each month, if you decide to take out finance. Over-extending yourself could mean you’ll struggle to make repayments.

Don’t forget insurance and fuel

It’s a good idea to look into how much insurance will cost for your potential new or used car and how economical it is too. If you’re regularly going to be commuting to work or driving long distances, a car which burns a lot of fuel isn’t going to be your best. Don’t forget to factor the cost of insurance, fuel and road tax into your monthly budget if you’re taking out finance. Newer cars may be exempt from road tax (or you may pay a very small yearly sum), and you’ll often find they are more economical when it comes to fuel too.

Ultimately, the choice of whether to buy a new or used car is a personal decision, but take the time to think about the above things and you are sure to choose the best car for your needs.