Which is more profitable on credit: a new car or a used car
Residents of the Orenburg region, planning to buy a car on credit, should take a closer look at new cars - the rate on them is noticeably lower than on used cars
The structure of car loans shows a noticeable bias towards new cars: their share reaches almost 66%, while used cars account for only 9.2%. The lower rate for new cars is due to subsidized programs of manufacturers.
The new car has a number of advantages. Banks are more willing to approve a loan because they consider it as a more liquid collateral. The factory guarantee makes costs predictable, and special offers allow you to reduce the rate. A used car is cheaper, and for the same amount you can buy a car above the class, however, additional maintenance costs and the risk of hidden defects are possible.
Experts advise that if you plan to use the car for a long time and want to minimize the risk of unexpected expenses, it is more rational to choose a new car. If the first place is the budget and the desire to get a car above the class, it is worth looking at the market of used cars, but before buying be sure to conduct a diagnosis.
