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Along with deciding what type of vehicle you prefer, you also must decide between buying new or used which both have their advantages and disadvantages.
New Car
Advantages
There is always a feeling of pride when purchasing a new big ticket item, and a vehicle is no exception. The mere smell of a new car can make you feel like you are on top of the world. With a new vehicle there should be a sense of security of knowing that your car will be free of problems. Also, a new car can symbolize independence (taking you wherever your heart desires). When you buy a new vehicle you expect certain benefits:
- Piece of mind with problem- free transportation
- Latest safety technology
- Warranty coverage in the event of repair
- Cutting edge conveniences and options
- A relationship with the dealership to help solve any concerns
- Social status of being able to afford a new car
Disadvantages
The following can be disadvantages of purchasing a new car:
- Potential loss of market value as soon as you leave the lot
- Not guaranteed to be 100% reliable
Used Car
Advantages
Used vehicles fall under many names including: Pre-Owned Certified and Program Cars. Pre-Owned Certified vehicles have been inspected through a multiple point inspection and come with an extended warranty, which generally covers major components. Program Cars are newer vehicles that were previously leased to the public or in company service and carry the remainder of the manufacturer's warranty. No matter what type of used car you select, a thorough research of its history is needed to determine its service record and any damage disclosures. Carfax.com is a website dedicated to informing consumers of the history of used vehicles. Also, you may consult with different market value books such as, KBB.com to determine if the car is priced fairly.
The following can all be benefits of buying a pre-owned vehicle:
- Large depreciation cost of new vehicle value has already been
deducted
- Vehicle may have a portion of the factory warranty remaining
Disadvantages
No one wants to pay their hard earned money for something they are not satisfied with and purchasing an unreliable used vehicle will surely make you unhappy. We all hear about the "shady" used car dealers, who rollback mileage on their odometers and mislead their prospective customers. However widespread used car horror stories are, it is your responsibility to make sure you are getting your money's worth. Many large maintenance shops offer free used car inspections to anyone considering buying a used vehicle. To avoid an unpleasant used car buying decision, make sure you buy the vehicle from someone who will stand behind it. Remember, buying a used car without a warranty or "as is" leaves yourself heavily exposed if something goes wrong.
These are all possible disadvantages of buying a used car:
- Buying someone else's problem
- Unexpected repairs will decrease initial savings
- Repairs are at your expense if warranty has expired
- Does not carry the same social gratification as buying a new vehicle
 
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