Buying a new or used car?
When we think about buying a car often are we in the dilemma to buy a new or used car?
There is not a definitive answer for this question because everything depends on some points:
Budget
Of course, the budget is the one that always places limitations on our desires. Many of us would like to have the dreamed car, last year's production with all the accessories, but each of these details are costs that have a value with a lot of 0 in Euro currency. If our income cannot cover this cost we may consider the option of getting a car loan.
BKT offers loans for new cars which have a lower interest rate than used car loans where the production of the second one should be no more than 5 years before from the date of the loan. Starting from the lowest cost and by the stipulated condition, you would be more interested in buying a new car.
Amortization
Cars are depreciated very quickly and generally the first year holds the bulk of the amortization. If you would go to one of the concessionaires operating in Albania with the aim to sell your old car in order to get a new one, they can calculate an amortization cost of 20-30% per year and your car will be revalued for the remaining value.
You can spend your money that you have set as a deposit in the bank, but keep in mind that after the renovation you will not have the money and of course it is not so easy to save again, meantime you have lost the interests you would have win from this deposit. Therefore you can get a loan where you can put up your deposit as guarantee and with the completion of the loan you have both your money and the renovated house.
As bellow is an example:
You bought a car 4 years ago at a value of 32,000 Euros.If the depreciation for the first year was 30%, your car after the first year would have a value of 22,400 Euro
If in the second, third and fourth year a depreciation cost of 20% is calculated for each year then your car after the fourth year will have a value of approximately 11,500 Euros, in 4 years you have lost 20,500 amortization ( not a few in fact)
If you purchased this car after the fourth year in the used market, you would find it with a value of not more than 12,000 Euros. In this point of view maybe it is better to let someone else to pay the amortization cost for you.
Cost of maintenance
Buying used cars has a lower cost but certainly need maintenance. Maintenance requires constant budget through the year as well as your time to go to the mechanist (take it to check the problem, find the part you need, take it again for re-check if the problem is not resolved, etc.)
Meanwhile, if you buy a new car, they usually have a period of several years warranty on motorcycle parts and free check-ups are also available for a predefined period of time (this will save you)
Fuel Expenditure
Older cars spend more fuel because they do not have the new hybrid or electronic car options.
A hybrid car is the one that has three versions of use, fuel, electronic engine, or both of them in the same time. Usually if you are driving with low-speed it works with the electronic engine that is self-powered and very economical for use in traffic areas. If you accelerate the petrol engine will get in function. With hybrid cars you have caused even less pollution in the environment.
Prestige
Often it is denied the discussion on prestige by saying that it is doing the same job, but for many individuals this point is important. If you do a good job and you have enough income why not to buy a new car. For you the car is a prestige element, just as it is for someone who spends large amounts of money to eat in one of the city's most expensive restaurants although he could eat in a cheaper restaurant the same food quality, but would not take the same service. Or for someone else it's important to buy a first-class plane ticket while the destination is the same as the one that is sitting in an economical class but the prestige is not the same.
If you are a person that count in prestige definitely go for new car.
