If you’re swaying back and forth between the decision on whether to buy a new car or a used one, you’re not alone. This is a common quandary, and it isn’t helped by the fact that both sides have pros and cons. It generally comes down to money at the end of the day, but there are a few other factors you need to consider too.

If you’re not sure which road to go down, check out these pros and cons, and base your decision accordingly.

Buying a brand new car

Pros

Obviously buying a new car means, effectively, that you have a sparkly new car and that comes with kudos and street cred. However, you can’t be buying a car simply for that fact! A new car is an investment, and once your time with it has ended, you can sell it for a decent price provided there is no major problem with it. On top of this, you know that when you buy a new car it is coming with no baggage, i.e. there is no existing wear and tear because it is literally just out of the showroom. You get warranty and service as part of your purchase, and this is peace of mind, which if you’ve never owned a car before, is actually quite priceless.

Cons

If you got quite excited at the advantages of buying a new car, there is always a downside, and in this case it is the price. Buying a new car isn’t cheap, and although you can get finance to spread the cost, do you really want to land yourself in debt? Tax and insurance on top of this may be higher because your car is brand new, especially if you are a first time driver.

There aren’t many downsides to a new car other than the cost, but you could argue that this is the biggest factor of all, and probably a bit of a deal breaker.

Buying a second hand car

Pros

Obviously when you buy anything which is used, you pay less than if it was new, and this is the same with a car. Paying less for your car is better for your budget, and may allow you to afford it more easily. If you buy your second hand car from a dealer, you may be able to pay on buy now pay later programmes, or pay monthly, but this is obviously down to the individual dealer do be careful of high interest charges however. On top of this, it will probably cost less to tax and insure a second hand car, because its older, so the biggest advantage to this option is the lower cost overall.

You can make a second hand car almost feel like new if you get a set of new tyres. If the tyres are looking worn on the car, don’t forget to factor this in, which can be expensive. But if you use Tyre Shopperto find a reduced price, you can save a lot on buying tyres online.

Cons

The problem with second hand cars is that unless you them looked over by a mechanic before you commit to buying, you can never be sure whether there are any underlying issues which may need fixing and will cost you more down the road. You may get a warranty if you buy from a dealer, although this varies, but if you buy from a private seller, once you’ve paid for it, you’re on your own. There is a certain element of risk with buying second hand, but you have to weigh up whether the price makes it worth it.

On top of this, you won’t be able to sell your car on once you’e finished with it for as much as if you had bought a new car, so buying a second hand vehicle isn’t really much of an investment.

Second hand or new? The choice is yours!