Buying new or used cars is a very exciting experience for any motoring enthusiast. There are pros and cons for purchasing either type of vehicle and this article will serve to explain the benefits of each.

Purchasing a used car can allow you to save a lot of money upfront but you always run the risk of purchasing a lemon which will require you to spend large amount of money on repairs. This is not always the case though and you can often find great deals.

On the other hand, if you decide to purchase a new vehicle, you get the added benefit of warranty and you can drive in confidence knowing the full history of the vehicle. The downside is purchasing a new car can be an expensive cost and often requires a car loan in order to make the purchase.

Next, you’ll want to take insurance and registration costs into consideration. Generally speaking, insurance for new vehicles cost more as the value of the car is much higher than their used car counterparts.

You would never settle for third party insurance on a new vehicle but it’s always up for consideration on a used vehicle. Full comprehensive insurance on new or used cars can vary by large amounts.

If you’ve never owned a new car before, the idea of driving around in a brand new vehicle is a very exciting prospect. There is nothing like driving around in a brand new car that smells new and looks fresh.

Whichever you decide to buy, enjoy driving your car!

If you want to buy cheap cars you will need to consider all your car finance options. Use a car loan calculator to work out your standard repayments on a traditional car loan or use a novated lease calculator to work out whether a novated lease is right for you.