Buying a new or used car? Here’s what to look out for

myPPSR Team|15/09/2017

When you’re in the market to buy a car, it can be confusing trying to weigh up the pros and cons of new or used. What you want from your car is important, and wading through the options doesn’t need to be a chore if you know what to look out for.

Here are our top tips to consider when deciding between buying a new or used car:

New car considerations
Peace of mind and all the warranties and guarantees

It’s true when you purchase a new car off the dealer lot you can get the peace of mind that should anything go wrong mechanically with your car, or if it has issues within the warranty period, then you will be covered.

Often new car warranties are one of the big sellers for people deciding between buying new or used vehicles as warranties will cover you for a set period of around 3 to 5 years or up to a certain number of kilometres (usually 100,000km).

All the latest modern features

Buying a new car usually means you’re going to get the latest features and gadgets, which can be appealing if you are looking for a modern and feature-packed car that will stand the test of time.

From fuel efficiency, driver technology such as sat nav, smart phone connectivity and more. It’s safe to say, you will get all the latest and greatest features when you buy a new car.

New cars are usually more fuel-efficient

If you drive a lot of km’s up and down the highway or do long commutes a fuel efficient car is essential to ensure you are getting the value for money you need from your car. By forking out a little more in the beginning, you might wind up saving more in the long run in your vehicle running costs.

Used car considerations
Buying a car in like-new condition will save you money

If you are looking for a new car but buy a demonstrator vehicle that has done a few kms, you will save thousands off the marked price from the seller.

The features will remain the same, and you will be able to take advantage of the remainder of the new car warranty once the transfer of sale is complete.

Demonstrator models are used by car dealers to show the vehicle to prospective sellers at the dealership and are driven safely and carefully short distances.

Depreciation will be on your side

When you buy a used car, you won’t lose a big chunk of the value immediately as you do with new cars. Some cars can lose up to 40% of their value as soon as they roll off the lot, which can be a huge benefit if you are looking to get the most value from your vehicle.

No need to pay extra new car fees and on road costs

Buying a used vehicle will allow you to avoid the new car on road costs and fees that you would usually pay at a dealership. There are also other fees a new car dealership will try and slap on the sale including processing, paint protection, tinting and much more.

The key when buying a new or used car is to do your research and find out which car best suits your needs, then you can explore the option of buying new or used based on your budget, time of year and your vehicle needs.

If you do wind up venturing into a private sale for your next car, always ensure you complete a PPRS check to ensure if you are buying a used car there is no money owing on it or it hasn’t been reported stolen.