No matter if you've never purchased a car before or wish to upgrade, the process could be incredibly challenging. Whether you're thinking about buying a new automobile or a used one, this concise guide can help you make the best decisions.

New or Nearly New?

Let's start with the basics. You have three choices when buying a new car for yourself: you can buy a car brand-new from the dealer, used from the dealer, or used from a third party. Each option has benefits and drawbacks, which we have discussed in greater detail below. Let's look at the decision you will make initially when selecting a new car.

Buying a brand-new car

For those with reliable employment, buying a new car is a smart move. You might require financing to meet the costs since few people can afford to buy a new car outright. You will eventually own the vehicle, and car loans are frequently repaid monthly. There's a chance you'll sell your automobile before you pay it down because they lose value over time.

Pros

  • Warranty benefits are available to you.

  • Maintenance costs are decreased because there is less wear and tear.

  • In most cases, you can test drive a car before buying it.

  • You can return it if it is damaged.

  • Probably lower insurance costs will result.

  • There will be more models accessible in one area.

Cons

  • A brand-new automobile is really expensive.

  • Selling it won't allow you to make back your money.

  • Some automobiles depreciate significantly faster than others. If you don't want this to occur to you, search for something along the lines of "2020 greatest car keep value."

  • Perhaps you'll need to haggle with a salesperson.

Can I buy a used car?

Purchasing a used car is another method to get on the road without spending a big fee. However, this may present a special set of problems. However, this will also depend on how you buy your new car. If you buy a used car from a specialized used car dealer, you may take advantage of all the benefits described above, but this option will cost more than purchasing from a private seller.

Third-Party buyer

Compared to purchasing a car through a newspaper or online advertisement, the Facebook Marketplace is now one of the hippest (and easiest) places to do so. Additionally, you can purchase used cars from online stores. Additional places where you might see ads for used cars for sale include some of the following:

  • A website

  • Your local newspaper.

  • Social Media such as Facebook Marketplace.

  • Adverts in your local area.

You can stumble onto cars for sale even when you are out and about!

Then, is it still a good idea to buy a used car from a third-party vendor? Even though buying a used car will save you a significant amount of money—possibly even thousands of dollars—it also has additional maintenance costs, a higher chance of needing to repair parts due to wear and tear, and more miles on the odometer.

The seller, type, and make of the car are the main determining factors. Before being sold, a secondhand car may have undergone regular maintenance and safety checks. It might not have ever gotten maintenance, which would leave the engine without enough coolant to get you home. You can read some horrifying accounts of what could go wrong at Popular Mechanics.

Third-Party Pros

  • Pricing that is lower than what any dealership would charge will be given to you.

  • The owner may be able to tell you when the car's most recent upkeep or repair was done.

  • They'll probably join you for a test drive; if not, don't buy.

  • If you've been saving up for your first car and have everything you need, you probably don't need financing.

  • You may go on the road right now without having to wait a long time for loan approval. Additionally, if you pay in full, you are not required by law to make monthly payments.

Third-Party Cons 

  • No guarantees or warranties are made. Most cars are sold "as seen," so if something goes wrong and it breaks while you're driving, it's your problem, not the previous owner's.

  • The entire payment must be made at once.

  • They might live a very long time.

  • It won't be in pristine shape.

There are two points of view on a few more matters connected to buying a used car. Since it is flawed, for example, you won't be as worried about denting or scratching it. If your new car's inside isn't perfectly clean, you won't be hesitant to eat or drink there either. It would be a good idea to consider each of these issues.

How About Insurance?

Insurance is the next step once you have bought your new car, whether it is new or used.