It is a commonly held perception that buying used vehicles are better than buying new ones as pre-owned cars cost less. Used cars cost less because they depreciate and have lower insurance rates. However, in the long run, one could argue that buying new vehicles, as opposed to old ones, would serve one better:

1. Cost factor

One of the reasons to go for a new car would be the cost factor. While a new car does cost more, the value for money is so much more than an old car and it will run longer. Another reason would be the reliability factor. Nobody wants a car that breaks down without warning every few months. One would rather pay a little more than have to deal with car repairs every once in a while. By paying a little more for a new car, you can ensure you are getting the best you possibly can for at a reasonable price. A pre-owned car is appealing if you do not have cash in hand. Down payments on used cars are lesser and if you don’t put down cash beforehand, the interest rates are bound to be higher. Which is why one must try and collect the money or opt for car loans to buy a new vehicle.

2. Boosts credit rating

A longer-term loan on a new car will also help keep your credit score sorted. A new car also has a fantastic resale value. Of course, some cars depreciate faster than others; it is important to choose a car with a great resale value. Also, insurance rates on a new car are lower than a used car. Over time, this could mean a substantial amount in savings.

3. Save on gas

Another good reason to go for a new car is the amount you will save on gas. New cars give better mileage. If possible, one can even go for a new hybrid or electric car to save money.

4. Durability and comfort

At the end of it, it is important to remember that although a used car might appear like it will save you money, in the long run, it won’t. A new car, however, is absolutely worth it in terms of durability, reliability, and comfort. You can buy a new car and still find means to cut down the cost of purchase by picking out a good car that will last you a while.

5. Duration of ownership

A good, dependable car that will run for about ten years is better than one that only looks great if you want to save on money. Also, while negotiating with the dealers on the price of the car, ensure you get the best possible features and discounts. Get a great interest rate and go for a straightforward loan.