Purchasing a new vehicle is always an exciting transaction, whether you’re getting one for the first time or upgrading for the second or third time. If you’re a first-time car buyer, the prospect of being able to go from place to place can be a little daunting. On the other hand, if this is your second vehicle, you’re probably looking forward to some exciting changes and new in-car features that your previous vehicle lacked. You’re undoubtedly debating whether to buy a new or used car, no matter what type of buyer you are. It’s a difficult decision with both advantages and disadvantages. If you’re torn between two options and can’t decide, consider the following reasons while making your decision:
Consider Your Budget
Before making any major life purchases, consider your budget and some of the additional charges that may be incurred in the future. Unfortunately, the cost of both new and second hand cars has increased in recent years. So, before you make any final selections, consider your budget and how much money you have available. You don’t want to buy a car you can’t afford, even if you have a loan approved for the amount, until you know what the repayments will be.
Consider Your Maintenance Needs
When you have a brand-new vehicle, you don’t have to be too concerned about all the maintenance that will be required. All that is expected is that you service the car as per the manufacturers criteria to ensure that it remains in the best possible shape for as long as possible.
Used cars have a history of their own, and as a result, they may develop problems down the road that you must deal with especially if there is no manufacturer warranty left on the car.
When you don’t have the total cash needed to purchase a car or want to spread the expense of those payments over numerous months rather than paying it all at once, applying for a car loan is an appealing option. However, whether you buy a new or used car has a significant impact on the type of loan you acquire from a lender.
Our panel of specialists has long-standing ties with some of Australia’s most extensive vehicle loan lenders, allowing them to match you with the best car finance package available. From the hundreds of various loans offered by our panel of lenders, Credit Concierge’s fully accredited finance partners will make it their mission to find you the best car loan finance to match your needs. Get in touch today!