Should I buy a used car?  Analysis is lost when buying a used car

Should I buy a used car? Analysis is lost when buying a used car

Buying a used car has many benefits but also comes with many risks. So should I buy an old car? The following analysis will answer.

Should buy a car old car or is one of the things that most people wonder when buying a car. Because compared to new car, buy car There will be many benefits but also certain risks.

Should I buy a used car?

Benefits when buying a car

  • The price of an old car is much lower

Price car old cars have a lower selling price than new cars. Because even a newly purchased car that is only used for a short time, the car has lost its price by 7% – 15%.

According to the normal used car value calculation, a car will lose 15% – 25% of its value in the first year after the new purchase. This means that buying a used car for 1 year, buyers can save 15% – 25% of the money compared to buying a new car. In the following years, used cars often lose their value by 5% – 10% / year.

Compared to new cars, the price of old cars is much lower

Therefore, if you ask “should I buy a used car or not”, the answer is “yes” if you want to save money. By choosing used cars, buyers can save a large amount of money compared to buying a new car. Most people choose to buy used cars because the price is lower. This is also the reason why buyers of motor vehicles often buy used cars instead of new ones because it reduces the initial investment cost.

  • There are many options in the higher ranking

When buying a new car, with a certain budget, buyers can only choose from a certain group of vehicles. The lower the car purchase amount, the less choice will be. But buying a used car will have more options, to buy a high-class car. This is also the reason why many people choose to buy old luxury cars and replace new ones.

For the same amount of money, buying a used car has more options than buying a new car

For example, if you buy a car for about 400 million dong, if you buy a new car, you can only choose class A cars such as: Kia Morning, Hyundai i10, Toyota Wigo… But with this same amount, if you buy used cars, buyers can choose B-class cars such as: Toyota Vios, Mazda 2, Hyundai Accent, Honda City… or class C cars such as: Mazda 3, Kia Cerato, Hyundai Elantra, Honda Civic… even those 5-seater car high ground good 7-seat SUV. The more years that a used vehicle is accepted, the higher a rating can be selected.

  • Low tax fees

Compared to buying a new car, the tax on buying a used car is lower. Typically, the new car registration fee is 10% of the value of the new car. Old car registration fee is only 2% of the old car (depreciated) value at the time of purchase.

  • Low depreciation, little devaluation

In 1 – 3 years after buying, a new car dropped in price very quickly. After the first 3 years, the vehicle may lose up to 20% – 35% of its value. Meanwhile, the value of used cars is usually more stable, the depreciation rate is lower. There is even the ability to “inch up” if it is favored by the market.

Used cars have lower depreciation rates than new cars
  • The driving mentality is more comfortable

With a new car, most people will often take care and fear that the car will be scratched or damaged … This is easy to put pressure on the driving process, especially when driving into a busy road. , narrow…

On the contrary, with old cars, people will often feel more comfortable, without too much care. If the car has a slight collision, it is not a big problem. This is the reason before the question Buy a car for the first time should buy a new or old carMany experts often recommend buying a used car.

Risks when buying a used car

  • It is difficult to check and accurately assess the quality of the vehicle

With a new car, buyers do not have to worry about any problems because they are the first to use the car after leaving the factory. In the process of using the car, if there is a technical problem, there is also a genuine warranty.

But with old cars, testing and assessing the quality of the car is only relatively, difficult to completely accurate. Even old car inspection services can only check the current state of car damage.

Buying a used car is very difficult to check and accurately assess the car’s condition

Many places confirm that it is not possible to accurately check whether a vehicle has been hit by a water attack or crash in the past. Because there is no modern technical machine system that can check an old vehicle with hydraulic attack, Check for an accidental old car… Currently the inspection is mainly based on the experience of the mechanic. Therefore, no one can guarantee that it can be 100% accurate.

While a 1% risk is still likely to happen. Especially when the level of “bum” and “transformation” of an old car is getting higher and higher. The more sophisticated it is, the more difficult it is to check and evaluate old cars. Especially in the market of old cars with “upper gold and lower bran”, “one-meter-tall and one-stick-high religion”, the risk of buying the wrong quality old car … is not small.

Therefore, many people even want to buy used cars to save costs, but because of fear of this risk, they are forced to “buy a new car for sure”.

  • Risk of being deceived

If buying a new car, the buyer will work directly with the original dealer. Here, vehicle information and pricing are transparent, with a clear sales & after-sales policy.

With old cars, nowadays, buying and selling is usually through channels such as genuine dealers, private enterprises, business households, individuals … In which, the majority of people who buy used cars choose to buy directly with individuals or households. small business. Because the prices of genuine used cars or establishments that specialize in buying and selling large used cars are often higher.

But direct trading between individuals is not guaranteed. There have been many cases of counterfeiting papers to trick the car sale. The risk of buying a deceived used car is not high, but it is very easy to encounter if the buyer is not very experienced.

The risk of buying a deceived used car is not high, but it is very easy to encounter if the buyer is not very experienced
  • High maintenance and repair costs

Cost maintenance the car will increase with the number of kilometers used. The more kilometers a car uses, the more parts it needs to be maintained or even replaced. Therefore, car maintenance costs tend to increase gradually over time. Therefore, the cost of maintaining old cars will be higher than new ones.

Besides, the longer a car is used, the more prone to malfunctions. Especially if the previous owner or previous car owners do not maintain and take care of the car carefully, the possibility of damage will be higher. While buying a used car for 3 years or more, the genuine warranty is usually no longer covered. Therefore, the buyer has to pay for the repairs at his own expense if the vehicle is damaged. The older the car life, the greater the risk of damage and the higher the repair cost, especially for deep old cars and 10-year old cars.

The cost of maintaining and repairing old cars is higher than that of new cars

Another downside is that with very old cars, not popular in the market, it will be difficult to find spare parts and components to replace. This is a rare problem for new cars.

  • Old car experience

The old car experience is not risky, it is a certainty. Old stuff is not as attractive as new. This is obvious, not just for cars. Buying a used car, the owner of the car will have to accept the experience of using a used car.

The first is degradation – “everything is not the same”. Depending on the time of use, cars will be degraded more or less. Even if it is an old car that is only used for 1 year, the experience cannot be quite the same as when buying a new car.

The degradation of old cars is reflected in many aspects from the exterior, the interior, the equipment system, most notably the ability to operate. A car that has been used for 3 to 5 years will not have the same driving experience as a “new” car.

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Depending on the time of use, cars will be degraded more or less

The second is obsolete. To increase competitiveness, manufacturers often update and upgrade their cars every 2-3 years, even every year. Therefore, buying a used car will certainly be difficult to avoid obsolescence compared to new cars.

Buying a used car with the same generation as a new one is usually not too different. However, if you buy a used car of the previous generation, it will definitely feel “out of date”. From the exterior design, the interior design, the equipment system and even the operating system … will not be equal to the new car.

Should buy a new or old car?

Buying a used car has its own benefits and risks, and buying a new car has its own pros and cons. Therefore, buying an old or new car will depend on factors that buyers focus on.

First, for those on a comfortable budget, buying a new car is obviously the best option. If you like to experience a completely new car, worry about the risks of buying a used car … you should also choose a new car.

If you want to save money to buy a car (promote economy), want to buy a higher class car, find a reliable source for selling used cars … you should buy a used car. Because when buying a car, in addition to the cost of buying a car, the cost of raising a car is not small.

Regarding the buyers, if you are the first time buying a car, it is advisable to prioritize buying a used car for psychological comfort. For those who buy a car mainly to move work (it is fun to buy a car to “plow”) do not require high experience, car buyers for service … the advice is also to choose a used car. .

To choose a good old car, you should prioritize a reputable and reliable place to buy, give priority to famous durable cars, avoid old cars that should not be bought such as taxis refunds, old cars with accidents, old cars are damaged by hydrographs, old cars with deep life, old cars have been repainted … With cheap imported old cars, care should be taken. Before buying, you need to test carefully, check the engine, check the vehicle’s interior, test drive, vehicle papers, VIN …

Vu Minh

Frequently asked questions about buying a used car

? Should I buy a used car?

Reply: If you have an abundant budget to buy a car, like to experience a new car, worry about buying a used car with many potential risks … buying a new car will be a safe choice. Buying a used car will be suitable if you want to save the maximum cost of buying a car, get support from acquaintances who have a lot of experience in buying and selling used cars …

? What are the benefits of buying a used car?

Reply: The biggest benefit of buying a used car is that the cost of buying a used car is much lower than a new car. Compared to new cars, old car prices are obviously lower. Taxes and fees for buying used cars are also lower. Besides buying used cars, you have more choices about classification, more comfortable use psychology …

What are the risks of buying a used car?

Reply: The risk when buying a big old car that most people worry about is being cheated. The market for used cars is “high and low,” with all kinds of cars, if not careful, it is easy to be fooled when buying used cars.

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