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Old 25th February 2005, 17:36   #1
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Default Wise decision-First hand car or second hand car

I have a question

Which is wise decision? going for a new car or going for second hand car with very very less mileage (may be within a year old vehicle)

The depreciation of the car for the first year would be heavy. Hence we can save the money, if opted for a second hand car.

What say
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Old 25th February 2005, 17:38   #2
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Quote:
Originally Posted by SURPRISE
I have a question
Which is wise decision? going for a new car or going for second hand car with very very less mileage (may be within a year old vehicle)
The depreciation of the car for the first year would be heavy. Hence we can save the money, if opted for a second hand car.
What say
I'll always go for a new car than an old one (same model). Any time, any day!
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Old 26th February 2005, 09:06   #3
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Surprise, if money is the gating factor, then there is no harm in going for a sparingly used, not-so-old car! It makes perfect economic sense and appeals to the head. BUT, if you are a true car lover, you will understand when I say that buying a new car appeals to the heart! You will want to have a car that you will own solely, customize to your requirements and cherish till you have it with you!

~Sonic
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Old 26th February 2005, 14:31   #4
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Hey SURPRISE,
it all depends on the car.
For eg - a 2 month old merc E270 done 500 km makes more sense then a new merc (almost 3L cheaper) whereas an 2 month old 800 maynot make sense.(10K cheaper).
unless of course you are on a budget or the car that you want has been discontinued
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Old 26th February 2005, 18:36   #5
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Quote:
Originally Posted by lamborghini
Hey SURPRISE,
it all depends on the car.
For eg - a 2 month old merc E270 done 500 km makes more sense then a new merc (almost 3L cheaper) whereas an 2 month old 800 maynot make sense.(10K cheaper).
unless of course you are on a budget or the car that you want has been discontinued
I disagree. For a guy buying the MERC 3L will have the same value as the 10K will have for the guy buying the 800.

I'll go with Sonic that getting an almost new car makes more sense to the head than a brand new car. But it is true that nothing can match the feeling of getting a new car.
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Old 26th February 2005, 20:31   #6
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Default Advantages: New and used

It depends because both have their own advantages and disadvantages...

Brand New Car Advantages:
  • Improved Technology
  • Better Fuel Efficiency
  • Cleaner Emissions
  • Safety Enhanced
  • Better Performance
  • Warranty
You do not have to worry about the car's body, paint, scratch marks, interiors, tyres, wheels, engine, etc. since it is a brand new car and will not give you any problems unless you are unlucky. There is no past owner, so there is no question of the car being involved in an accident earlier.
Used Car Advantages:
  • Less Cost
  • Less Maintenence
  • Registration and other expenses much cheaper
  • Once you buy a brand new car, its cost decreases considerably when you sell it off. A used car can fetch you a price that will not hurt you much.
A used car (or for that matter any car) if maintained and taken care off can be used for a decade with some or no issues. Although you might have to tune the engine and/or do the body/paint work, it may still turn out to be cheaper than a brand new car.
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Old 26th February 2005, 21:16   #7
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Buying a new or used car is all a matter of personal preferances and budget. I for one would buy a used car because I can't afford a new one and for my budget I would get a decent used car.
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Old 20th March 2006, 15:46   #8
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I'd recomend used, I've never had a new car in my life('snif snif') but both the corrolla's have given us almost no trouble and came with ~50K km on them.
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Old 20th March 2006, 18:55   #9
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A well maintained 1-2 year old car is nearly as good as new car. It will cost you much less than a new car and you can afford a better model in your price range.
Nowadays, whatever car you buy, it will appear dated after few years.
Ultimately, its your decision.
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Old 20th March 2006, 19:30   #10
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Quote:
Originally Posted by bgopal57
Buying a new or used car is all a matter of personal preferances and budget. I for one would buy a used car because I can't afford a new one and for my budget I would get a decent used car.
Plus basically more for your money, as in, the price you'd pay for a brand new hatchback can get you a decent mid-sizer!!!
Also if you have plans to modify it, you don't have any warranty issues on a secondhand!!!

My bro is planning on picking up a pre-owned Baleno soon!! Yay!!
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Old 20th March 2006, 19:34   #11
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It is easier to buy a new car if you want to purchase with loan. The interest rates are higher for used cars as the depriciation for the cars is the highest.It makes sense if you have ready cash for most of the amount to invest in the used cars and then if required go for a smaller loan amount.
Also if you want to keep the car for sometime and sell it used cars are better as with a new car you might be on a loosing side.
But then if you would want to keep the car for longer time, then go for a new car you get the warranty and support too.
Also if you are buying a used car it should be bought from a genuine single owner or better if you know the person well. Lot of tampering happens in the used cars so be careful.
Thanks
Best Regards
Kunal
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Old 20th March 2006, 19:35   #12
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Default Where is the Logic???

Quote:
Originally Posted by Gordon
It depends because both have their own advantages and disadvantages...

Brand New Car Advantages:
  • Improved Technology
  • Better Fuel Efficiency
  • Cleaner Emissions
  • Safety Enhanced
  • Better Performance
  • Warranty
You do not have to worry about the car's body, paint, scratch marks, interiors, tyres, wheels, engine, etc. since it is a brand new car and will not give you any problems unless you are unlucky. There is no past owner, so there is no question of the car being involved in an accident earlier.
Used Car Advantages:
  • Less Cost
  • Less Maintenence
  • Registration and other expenses much cheaper
  • Once you buy a brand new car, its cost decreases considerably when you sell it off. A used car can fetch you a price that will not hurt you much.
A used car (or for that matter any car) if maintained and taken care off can be used for a decade with some or no issues. Although you might have to tune the engine and/or do the body/paint work, it may still turn out to be cheaper than a brand new car.
Now if I am buying a 1 year old car (Swift) compared to a brand new Swift.... Than how do the following get effected if you buy a new car??? Why are you assuming that you would buy a newer model? One can very easily buy the same car eg Swift a year later. We are not comparing that I bought a 5 year old Santro and than later newer cars came. We are discussing is it worthwhile to buy the same car/model a year later than to buy it new.


Brand New Car Advantages:
  • Improved Technology --- False Both are Car with same technology
  • Better Fuel Efficiency --- False Year old Swift gives same FE as new Swift
  • Cleaner Emissions --- False Same as above
  • Safety Enhanced --- False Again same Zxi model, how does safety differ
  • Better Performance --- False Same car so same performance (minor drop)
Used Car Advantages:
  • Less Cost --- True
  • Less Maintenence --- False Requires more maintainence than new.
  • Registration and other expenses much cheaper --- True
  • Once you buy a brand new car, its cost decreases considerably when you sell it off. A used car can fetch you a price that will not hurt you much. --- True
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Old 21st March 2006, 08:53   #13
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Aseem, can i know how much did u pay for your car and what variant is it?
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Old 21st March 2006, 10:29   #14
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why would someone sell a new car after a year??

1. Car has had problems..
2. Car met with a severe accident..
3. Unablo to pay installments..

Be sure, that u r buying the car from third kind of seller..
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Old 21st March 2006, 10:46   #15
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It really depends from situation to situation.
  • One reason behind a used car may be that the car has been discontinued - Like in the case of my Vtec. I wouldnt be caught dead in a New Honda City, and the Vtec is something that I have lusted after for ages.
  • Another reason could be black money! You see most 1 year old cars going toward people who undervalue and pay a majority of the amount in black.
  • Depreciation and the subsequent mouth-watering prices can be yet another reason. Some cars lose as much as 30% of their value in the first year itself. Modern machinery lasts almost a decade, and paying 30% less for 90% of the life sounds like a value-laden proposition to me.

Buttttttttttttttttttt you must keep in mind that the interest rates on a second hand car loan are MUCH more than on a new car. So loan seekers...beware.

Also, for business' it makes sense to go in for brand new only. To take advantage of the depreciation slabs.

GTO
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