Used cars vs New cars

Let us weigh the pros and cons for you
by Xpert, powered by SG Car Mart

Advantages of New Car

Perhaps the most attractive advantage of buying a new car is its warranty. Usually, the car warranty comes with free car servicing. A new car is equip with new paintwork, new tyres, new engine and the likes. Considering that the car is brand new, you can rest assure that the car is accident-free. The owner is at liberty to customise the accessories for the car, such as its car bodykit and car spoiler. Psychologically, the owner of a new car will probably experience a euphoria high from purchasing a brand new item. Lastly, new car interest rate is relatively lower, translating to lower interest paid for a new car loan compared to a used car loan.

Advantages of Used Car

Purchasing a used car means that you are paying much less as compared to a new car of similar model. Furthermore, a used car depreciates less as the first owner has already absorbed most of the loss. More often than not, additional car accessories do not raise the price of the car. You probably be able to get a fully-equipped used car with super stereos and racing add-ons at a greatly discounted price. For some models that are no longer in production, they can still be found in the used car market. If the previous owner takes good care of the car, you may be buying a used car at almost new condition, but at a much lower price.

When buying a used car, LTA will impose a transfer fee of $10 + 2% of the value of the vehicle. Buyer to borne the transfer fee.

Learn more about the differences between used and new car.