Brand new or second hand car?

Monday, May 3 2010 • File Under: Tips • cars

When it comes to car “Nothing beats brand new.” Is it? Think again. The moment the car roll out from its dealership, it sheds 15% of its value already. Now does this sound good to you?

Its alright if you have enough money. But if you are financially savvy. A more practical thing to do is to buy a slightly used car.

There are certain situations when a brand new car owner decided to sell his/her car immediately because of certain circumstances like moving overseas, facing financial difficulties or just merely change of mind. These are a very good condition to buy such cars. Some cars are just months old to less than a year with very very low mileage. They sell it for 15 to 30% off their purchase price. If you are patient and resourceful enough, I am sure you can get these deals easy.

The number one source of such deals are car sales website. Normally there are very good cars deals that are featured in the front page. You can choose whether you want from the dealer or from private owner. You can alo get one by asking friends or relative. Usually they know someone selling something.

No matter where you got it. Always be aware of the paperworks of the vehicle. Make sure to check it to your local transport agency. Check if the vehicle is not stolen or accumulated some penalties. Also check the service history. Make sure to get the manual and service history.

Another benefit of buying second hand is usually you can get the insurance free for a certain period where in you are covered till the policy expires. If the car is just 3 months old, that means you still got 9 months before you need to buy one. Unlike buying brand new wherein you need to add the insurance to the bill.