Buying a car is one of the best moments of our life. It is not easy as you have so many options and diverse models to select from. There are lots of developments in the automobile industry; hence the car prices are rising rapidly. One of the first confusions which you will face while buying a car is new or old. Things get complicated if you want to shop for an old car. You will understand the car appraisal serviceand various other documents before you invest in an old car. On the other hand, buying a new car can be easy if you have basic automobile knowledge.
A car appraisal serviceis also handy for used car owners as it will help them while negotiating with the car dealer or the buyer to get the best prices. The first and foremost thing you have to consider is the value of all the vehicles depreciates with time. So, you are not investing in the car. You have to ensure that you shop for a cost-effective vehicle with high mileage and a high resell value. On the other hand, if you are buying a second-hand car, you have to shop for the best model to spend low on maintenance and repair costs.
In this blog, our car appraisal service will highlight the advantages of buying both new and old cars to simplify your purchase.
What are the advantages of car appraisal service before buying a new car?
1. New technology and advanced features
Every car buyer would love to scroll down the new and advanced features in the brochure. When buying a new car, you will have to ensure that it has up-to-date advanced features. In most cases, the new technology of today will be outdated within a year. One has to ensure that they buy the best model that fits their budget and has loads of positive features to appreciate. Today, new car buyers can also upgrade certain essential features as most of the top automobile brands offer room for customization. If you are eager about new features and a techno-wizard, you must shop for a new car to suit your needs.
2. Maintenance cost of a new car is low
A new car will not demand service until you drive a few thousand miles or until one year. Also, all the companies provide the first three to four services free, which will make your job relatively easy. The maintenance cost depends on how you drive or who drives the vehicle. If you go it roughly, you need to schedule early maintenance to boost the vehicle’s life. Car owners have to change the engine oil three times a year to ensure a smooth-running run. If you plan for the long run, you should also include expenses like battery change, replacing air filters, and other necessary repairs.
3. New cars have less interest rate
If you want to get a new car loan, you can get it at low-interest rates. Most private finance companies and banks offer high-interest rates on old cars. You will pay less interest when you buy new vehicles. If you have a constant income source, you must opt for a new car as you can quickly clear the debts.
Car Appraisal Service – Factors to consider while buying a new car
Cost: The first thing which strikes the mind of every new car buyer is the cost of purchase. For example, if you plan to buy a new car for 40,000 US dollars and you have around 15000 US dollars in your hand, then you will pursue a car loan for the remaining amount. So, you will take a loan of 25000 US dollars, and if the interest rate is 10%, i.e., 2500 US dollars, say for five years which makes it 10,000 US dollars (Total Interest). The total cost of buying a new car with a car loan = 15000+10000+25000+1000 (Registration fee and other taxes) = 51,000 US dollars. It is considered a good trade if you can sell the car for half the total buying price.
Maintenance: An average American car owner spends 400 US dollars a year on car maintenance. Undoubtedly, the first year is free. From the second year of purchase, you will have to pay 400 US dollars. If we sum up the total maintenance cost for five years, it is 2000 US dollars excluding any significant repairs and essential part replacements.
Mileage: If you love to save money, then it is sure that you will buy care that has impressive mileage. New cars give good mileage as they have new parts and run with the best efficiency. The mileage starts decreasing with time, but if you buy a good car, you can save a lot of money you will spend on fuel.
Now that we have discussed a lot about new cars let us move on to old vehicles and determine whether they are worth shopping for.
Five reasons to consider before buying a used car
Most car experts recommend first-time buyers invest in old cars as risks for accidents increase when you drive a new car for the first time. You might have also seen exciting videos on social media where a new car owner hits the vehicle while bringing it out of the showroom. If you don’t want to end up in this scenario, then first buy a second-hand car, use it for few months and then shop for your favorite model once you have enough practice to drive the vehicle. Here are five factors to consider if you want to shop for a used car with proper car appraisal service.
1. A used car can help you in saving money
Once a new car is out of the showroom and hits the road, it will soon depreciate in value and fall into the category of the used cars. At the same time, you can buy a used car at comparatively low prices. There are also chances where have to meager amount to the owner. Low pricing of the old vehicle is also an indication of the condition. You have to check whether the car is worth to invest. You can take help from appraisal companies as they will help you in deciding the correct price of the vehicle.
2. Used cars have a lot of perks
When you buy and ride a used car, you are free from the worries of dents and scratches. However, if your brand new showroom car gets a minor scratch, you will get a lot of stress and temper. You can also enjoy long drives in an old car as they have the potential for the long run. For example, if you have a brand new Toyota vehicle and the next day you are asked to drive the car on congested city roads. The chances of dents and scratches significantly rise. On the other hand, you will have no worries when you have to drive a used car in the same traffic.
3. No more worries about cheating
Undoubtedly, you must seek help from professional appraisers as they will help you in understanding the car. Every used car owner thinks that their vehicle is the best, and they won’t negotiate for fair prices as they will try to save as much money as they can. In such cases, you need a neutral or third party that has the necessary certifications to settle the argument. We are talking about appraisers as they can help you in getting the best price for the vehicle. You need not worry that a used car owner will cheat you as appraisers can save your money by providing fair prices.
4. Used cars have slow depreciation
You will resell the used car one day to buy a new one, and on that day, you need not worry about the depreciation value. You have already invested in a car that has depreciated in value. Used vehicles don’t depreciate quickly until you crash them badly. You can also escape from registration prices as the pre-existing owner of the car has paid it to the government. However, you will have to change the registration to your name, which you need to do with the help of local authorities.
Which Are Best Used Cars Vs New Cars?
Both are best, and it depends on what factors you expect from the vehicle. You can take help from automobile experts who can help you in shopping for the right vehicle. Both used cars and new cars have their own advantages and drawbacks; hence finding an ideal investment lies in your hands. If a used car has a low price, then a new one has a new set of features to explore.
Car Appraisal Service – Conclusion:
If you want to buy a used car in California, Utah, or New York, then Benchmark Auto Appraisers LLC can help you in various ways. Founder Daniel Jendrowski is an automotive expert with years of industrial experience who can help you in finding the correct price for the vehicle. They also deal with various types of car appraisal services including RV, Camper Homes, Tiny Homes, Motorcycle, Classic cars, and exotic wheels. Book your free consultation right now or call 1-877-888-6113 to speak with experts.
Daniel “Dan” Jendrowski
Certified Public Auto Appraiser Diminish Value Experts B.C.A.A. & I.A.C.P.
