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Advanced Quanatatitve Reasoning To Buy A New Car

942 words - 4 pages

The pros of a new car is that you can consider a wide variety of vehicles in the size and price that you want,also select the features that you want in your car. One thing that financial institutions give higher rates of interest on loans for used cars. Also for the first few months you won't need maintenance ,manufacturer cover the warranty and banks offer lower finance rates. The cons of a new car is that most of them are really expensive and also over the two years or more new cars tend to depreciate at about 20 -40 percent in value. You have higher insurance rates and also you have to pay registration fee and more. The pros about a new car is that you can pay less money which means more on saving , there is no depreciation on a used car . Taxes are low and also the collision insurance are low too. Used cars don't have state sales tax and you also come out of zero interest loan. The cons of a new car is that there is no warranty and you have to car for your own maintenance. There is no GAP insurance for used cars , that means that it allows the owner to pay off loan balance in the event of a total loss.
The pros of buying a car is that there is no wear and tear penalty and more mileage . Buying you a car allows you to customize it and at the end you'll always have a vehicle after paying off the payments. Insurance also puts limits on your policy and it is typically lower if you lease. The pros about leasing a car is that you can drive a new vehicle from time to time. You can use the car for a short time and switch. Lease payments are also lower than purchase payments and also their lower up front cost. Mechanical issues are covered under a warranty. Also the sales tax is lower. The cons of buying a car is that the monthly payment is higher , higher down payment. Another thing is that you are responsible for maintenance when the warranty is done for a new car. Also there is a lot of trade in or selling hassles when you sell the car. The cons on leasing a car is that leasing cost more over time. There is limits on mileage, you also pay extra for excess wear on tires and scratches. You can't have any customization and the end of the lease term you don't have a vehicle . Most lease contracts are also confusing and difficult.
The dealerships I have is www.carsguru.com and the official Toyota website. I have 2 cars from carsguru and 1 from the official Toyota website. ...

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