When it comes to complicated life decisions, choosing to purchase either a new car or a second-hand one can be a difficult financial decision to make. But if you do your research and take the time to weigh up both the pros and cons when it comes to a car purchase, you will be in a much better position to make a sound buying decision.
Buying a second-hand car will save you money up-front and there is no debating that fact. But, you will need to keep in mind that over the long term it might end up costing you more than you had originally budgeted for. If you do decide to buy a second-hand car it’s important that you do your homework and make sure you verify the vehicle’s previous history.
A new car, while more costly upfront compared to purchasing a used one, comes with the peace of mind that it will be reliable and will operate properly when your family needs it the most. There is nothing worse than purchasing a second-hand car only to find out afterwards that it is a lemon. For busy families and people who need a car for commuting to work, an unreliable vehicle is just simply not an option.
Another great benefit to purchasing a new car is the resale value. Often when buying a second-hand car you won’t be able to receive the same resale benefits that you will get with a new car. When it comes time to trade in your family vehicle, you might not get as much for it at trade-in, in comparison to a new car.
We understand that buying a new or used car can take a large amount of time, as you research different vehicles and make sure that everything checks out fine before making the purchase. Buying a car is a big decision, and so is choosing the right option to finance it.
Did you know that a car can be used as security for a loan with SRG Finance? At SRG Finance once a client submits an application and is approved, we can assist the client with all of their personal finance needs by providing personal loans for small amounts and secured loans for larger amounts.
Used cars on average are cheaper than a new car and require less upfront investment. However, the reliability and resale value that comes with a new car may make up for the higher initial cost in the long run. Regardless of whether you choose to buy new or used, SRG Finance can work with approved clients to provide the secured loan you need to get behind the wheel.
