Is it better to buy a used vehicle or a new vehicle when your a first time buyer?

Question

My sister wants to buy a vehicle in the next couple months but shes not sure if she should go used or new.. She has pretty good credit and she would be a first time buyer.. Do you get a lower interest rate when buying new.. Any feedback will help, Thanks.

Answer 1

Always buy used vehicle it doesn't matter if you are first time buyer or what. Unless you are a million air then buy whatever it does not matter. But i suggest buy used, I mean it does not have to be used alot, it could just have like 1000 miles. The reason is simply this the min the car is driven off the lot a brand new car this is. The min it has 1 mile on it the value of the car usually drops 2-5 thousand dollars depending on the car. If you buy a car and drive it off the lot and make u turn at the next traffic lights and want to see it back to the dealer he will not pay you what you paid he will pay you about 2-5 thousand dollar less depending on the car. So never buy a brand new car.

Answer 2

I would encourage her to purchase a one or two year old vehicle with low mileage and still under warranty. She should be able to get a good interest rate by shopping around a little. Probably no worse than six and half percent. However, when buying a new car she probably can get a zero interest rate from some dealers, or no worse than a 4.99% loan. When buying a one or two year old car she can still get up to a 48 month long and when buying a new car she can get 60 months and sometimes up to 72 months. This will enable her to have reasonable monthly payments. It pays to shop around and if possible buy a car directly from it's owner and cut out the middle men.

Answer 3

This is a question which really haunts first tme buyers.To me fist timmers should go for used cars(3-4 yrs old only). The reason being that he would not like testing his newly acquired driving skills on brand new car as every single scratch or dent will only make the driver more conscious of his driving thereby won't get the confident of proficient driver.If the person knows driving well then i think he must go for new car because new car is always in any span of time is more efficient & economical(both in mentanence & performance) in long run.Moreover finance facilities has made owing your dream car come true.

Answer 4

Used. A car loses value as soon as it leaves the showroom, so for value for money by used. If buying used you can shop around for loan rates, whereas if you take out a loan from the garage you are set to thier limit.
Best to get a car with low mileage, no rust, and with a full service history (fsh). For the best cars look for German (Vaulkswagon) or Japanese (Honda). Take someone who knows about cars with you or pay a garage to look it over. (If you get an AA car loan you get a free AA car check)
Hope she enjoys her new car!

Answer 5

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Answer 6

if u are loking for used cars...try this web..

http://www.motortrader.com.my/asp/search/search.asp?category%5Fid=23