It’s the question that will be on high rotation in the mind of anyone considering the purchase of a vehicle – should I buy a brand new car, or go to the used car market?
The appeal of a showroom-fresh vehicle is understandable, bringing the prospect of a car that will have you as its first owner. On the flip side, buying used brings price advantages that are often significant; here, we list the benefits and drawbacks of each approach.
Brand new car – warranty perks and sometimes more, at a price
The first benefit of buying brand new is the most apparent – you’ll get a vehicle that, ex-factory, has not lived under the name of anyone else, which means you as the owner will receive the full manufacturer warranty coverage.
Some even offer free servicing for a period of time, and because the car is practically box-fresh to begin with, this is the period in the car’s life where things are the least likely to go awry.
If things do go wrong, warranty coverage means you can have it sent to the dealer it came from and have the issues remedied for free. For those who take this path, this affords the best margin of safety, especially for first-time car owners or for those who are less confident dealing with the intricate workings of a car.
Buying brand new also means that you are best positioned to get the latest equipment that is available for your car, including the all-important safety equipment suite. For those who put a premium on consumer electronics, the new car is the most likely to get the latest kit, too. All these benefits literally come at a price, however; the steepest drop in a car’s resale value occurs as soon as it leaves the showroom.
Used cars – Savings on price when new, immediately available stock
That big financial hit that a new car owner takes is the first benefit of buying a used car; someone else has taken the brunt of its depreciation for you. The price of admission will be less prohibitive, and if you sell the car on eventually, it will be easier to recoup the money you have laid out on it.
Variety is the next great advantage of buying from the used market. Looking at older cars means that you’ll get to peruse volumes of car models that are no longer on sale, further adding to your selection of potential choices on top of the nearly-new ones, which are also bargains when compared with their brand-new counterparts. What’s more, if you have a preference for cars of generations past because “they don’t make them like they used to” – here’s your opportunity!
In the present day, the greatest benefit of buying used vehicles in 2022 is the immediate availability of stock. The re-opening of the economy from the easing of pandemic restrictions means that demand for new cars has spiked, and while amassing orders is always good for business, it adds to the load upon manufacturers which are already working around the ongoing chip shortage, which means that long queues are growing ever-longer as a result. Think waiting months is bad? Some have to wait years.
You won’t have to wait anything like as long when you buy a used car. Inventory is parked right there on the lot, and all you need for the purchase are some documents, fill out some forms, and, if taking a loan, wait for the bank’s approval. If you’re buying with cash in hand, you could well drive off the lot in a flash!
Higher maintenance costs, loan interest; hidden issues more likely
For the price benefit of buying used, there are several drawbacks. If buying on a loan, older cars will tend to command a higher down payment sum as well as a higher interest rate. Depending on how long your loan tenure turns out to be, you may even be paying more for the used car than you would have paid for a new car in the long run.
The true condition of a used vehicle is also difficult to determine unless you have an experienced mechanic in tow, and even then, the drive or inspection of used cars tends to be brief, and often too short for issues to show up. Used cars won’t have the backing of a manufacturer’s warranty, and any parts that are on the brink of failing is on the next owner to sort out when they do. Used vehicles are also more difficult to insure, especially if they are more than 10 years old.
There is, however a better way of navigating the vast realm of used cars; you can buy from the myTukar Auto Fair 2022 that is heading to Puchong South next, from July 1-3. The upcoming event follows the prior running of myTukar Auto Fair 2022 event in Plentong, Johor last weekend.
Vehicle purchases from the myTukar Auto Fair 2022 come with the assurance that each myTukar certified vehicle has undergone a thorough 160-point inspection, ensuring there has been no mileage tampering, and that the vehicle is free from major accidents, fire and flood damage. Above all, every myTukar certified car undergoes an extensive refurbishment and reconditioning process to ensure that it is as good as new.
If you purchase a vehicle at the fair, rewards up to RM800,000 await! You could win an all-expense paid trip to Sydney, Australia. Special deals are on offer too, including the low interest rate of 1.88% for the first 150 bookings, and RM12,000 worth of lucky draw prizes to be won.
For your peace of mind at the event, the myTukar Auto Fair 2022 continues to have Covid-19 prevention measures in place; physical distancing is no longer compulsory, though masks are still mandatory at all times. Event crew will be on hand to frequently clean the whole venue, including frequently-touched equipment as well as communal facilities and the cars themselves.
The myTukar Retail Experience Centre in Puchong South is located along the LDP (Lot 14225, KM 3.8) just before the Puchong Barat toll plaza. If you’re coming from IOI Mall and Bandar Puteri, this will be on your left, before the toll.
For more information, visit the myTukar Auto Fair 2022 homepage, or browse the wide selection of vehicles currently available in the myTukar inventory to see what’s on offer. Head on over to the myTukar Auto Fair at the myTukar Retail Experience Centre – Puchong South this July 1-3, from 9.30am to 9pm daily. You may also reach out to the company below:
Call : 03-7890 4499
WhatsApp : +6018-2249999
Email: [email protected]
myTukar Retail Experience Centre – Puchong South
Lot 14225, KM 3.8,
Lebuhraya Damansara–Puchong,
47100 Puchong, Selangor
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