what my experience tells is: Out of my 3-4 months experience of buying a used car ,this is the comparison of buying a used car vis-a-vis a new one:
(i will elaborate on some of maverick's points)
Without a second thought go for a new one if:
1.Your requirements are very clear- i.e.,
a.) your usage is really heavy(as maverick said)- more than 1000km per month(i have seen cars doing more than 3000km per month also). In that case a new diesel is better than a new petrol unless you prefer petrol for some strong reason.
b.)You are going to keep it for more than 5years(maverick already mentioned): For this , you must be a person who doesnot relocate from the current state within this span of time, also you should not be of the kind who likes to change cars frequently. Getting a vehicle transferred from one state to other in the first few years will be costing a lot.
c.)You are sure it will serve your family/business purposes(unless you are buying it for yourself only) for next 4-5 years; else you may have to go for a bigger /fuel efficient car soon.
d.) You are keen on showing it off(credit to maverick). If you do want those wow and other expressions from your colleagues/neighbours/relatives , well go for a new car(model).
2.)If you do not have time to maintain the car(credit to maverick)-often you may have to end up spending atleast half a day or more in the first few months of ownership of a used car.So, if time and patience are too valuable for you, then spend more money for a new car.
3.) If you have to take a loan for the car, then go for a new car; by the time you repay it, you will end up paying less for loan on a new car than on a old car+maintanence.
Now a used car should be your call , if:
1.) Your requirements are not that clear:
a.) you can't be sure you will use it daily(happens mostly with first time buyers/learners).
b.)not sure whether you will stay long enough in the current state(people going overseas/deputing to other states)
c.)Your family/business may need more spacious/FE/sturdy car in future( a newly married couple may need a bigger car down the line-if you go for a hatch now)
d.)You are the kind who wants to keep changing cars either for the feeling of owning various makes or to show off in your local circle(read relatives/neighborhood); then go for a 3-4 year old vehicles at best bargain possible, spend about 10-20k getting them repaired if needed; then sell it in an year without much loss(probably for same rate you bought them).
2.) Any used car ,however well maintained , commands some attention in first few months of ownership. So be prepared and if you don't mind occasionally getting your hands dirty, you may go for a used car.If you already don't know some good local mechanic, make sure you find one good mechanic near by your place of residence/business. They do better job than a service center in many cases.
3.)If you want to go for a loan of more than a lakh (of loan amount not car price) on used car, then better go for a new car taking double that loan amount(2lakh in this case). Because, interest rate is high on used car loans and add to it frequent service/spare costs that might be needed.
So, if you have to buy a used car, buy whatever good car that comes within the cash limit you have.
4.) even buying a good used car itself is time consuming- be prepared to wait for about 1-2 months to get a good one. If you are in a real hurry - think again about your needs to see if you can buy a new 800/alto to fulfill your needs. They may serve the purpose and if you want to sell soon(1-2yr) you may not loose as much as you may on bigger cars.If you buy a used car in a hurry, chances are that you might have overlooked a major defect/foul play in that process and you may end up spending more time/money getting it right.
Well, that's just an attempt at weighing the decisions, finally its your money and your decision ; so research,seek advice,think and finally obey your heart/mind whichever is close to you.:-) |