Let us now consider why purchasing second hand vehicles is better than purchasing new vehicles. In purchasing second hand vehicles, the 7 things to consider are:-
1) Smaller hire and purchase loan.
To secure second hand vehicles one requires only limited amount of finance. Compared to buying a new vehicle, which can sometimes be quite costly.
In buying second hand vehicle, the owner has to stump out a lower amount of money, or to take a lower amount of loan for the car.
2) Cheaper insurance cover.
Second hand vehicles only require third party coverage which is cheaper. Third party insurance cover for second hand vehicles are much cheaper when compared to first party ones
3) Slower value depreciation.
Second hand vehicles are said to suffer from lower depreciation costs as compared to new vehicles.
4) Higher maintenance required.
The necessity to change certain important parts of the vehicle such as clutch, timing chain or belt, and engine wear and tear. Such repairs can sometimes be rather costly affair.
5) Less efficient.
Second hand vehicles can sometimes be unable to provide efficient service. They tend to breakdown more often as compared to new vehicles. They are, infact less reliable.
An owner of a second hand vehicle, you will undoubtedly have to spend quite a sum of money on the upkeep of second hand vehicles.
6) Wear and tear issues.
Second hand vehicles are also said to undergo risks of corrosion. In such cases, its body work will have to undergo welding repairs from time to time to keep it in proper, working condition. A second hand car, will also have to repainted from time to time. All these, costs money to upkeep.
7) Higher fuel consumption.
Some second hand cars can sometimes be said to be unable to provide you good consumption. Consumption can at times be heavy due to the carburetor system having undergone much wear and tear.
This article has gone on to discuss the pros and cons of owning a new or a second hand vehicle. Ponder carefully over it. Finally, you should be able to make the correct decision of whether to own a new vehicle or a second hand one. The choice is yours to make eventually.