So, you are considering a rent to buy vehicle, are you? You have done your research and you have realized that choosing a rent to buy vehicle contract is one of the smartest ways to go about having and owning a car, especially for those who have been blacklisted before or do not have the capacity to apply for vehicle finance. Now the next question is, should I choose to rent to buy a new or used vehicle?
Let us take a look at the three main differences to consider when deciding whether you drive off in a brand-new vehicle or a pre-loved one.
Most new vehicles will come with a service plan or maintenance plan as part of the deal. Most new cars offer between a three- and five-year service plan in which the regular services on the car for that period of time will be covered by the plan. Pre-owned cars are usually older than five years and therefore fall outside of the service plan already, meaning that all services required are to be paid for by you.
Used cars can therefore end up being a bit more costly in the long run when it comes to services but only if they are not looked after and not regularly maintained.
When it comes to new vs used, the mileage factor is always something to consider. New cars will come to you with little to no mileage on the clock enabling you to get the car in brand-new working order. Pre-owned cars have already been driven by previous owners and depending on how they were driven or what they were used for, could have anywhere between 10 000 – 100 000km’s on the clock.
Taking mileage into consideration mainly, because they have been pre-owned and have already been driven for some time, used cars are therefore much cheaper than brand-new ones. If cost and affordability is your main factor – as it is for many people – then in the battle between new vs used, used would win hands down because a used car will always be significantly cheaper than a new one.
The Final Decision
Of course, cost is a big factor when deciding whether to rent to buy a new or pre-owned vehicle but you should consider your decision with a more holistic approach. Here are some questions to help you decide?
- What will you be using the car for? Simply to get back and forth to work, or is it a vehicle for the whole family?
- How reliable do you need the car to be?
- Do you have the means to pay for regular servicing of a used car when needed?
For more information on rent to buy contracts, chat to the experts at Future Motor Lease now or call us on 011 026 0003.