Most people who invest in used cars do so because they cannot afford the short-term costs of a new car.  But most often overlooked when buying a used car are the long-term costs associated with the purchase.  Consider carefully your options when next viewing new and used car options, and consider the differences in a new car warranty versus a used car warranty.

 

While a new car provides one with hassle-free maintenance for the first few years, a used car requires maintenance from the day it is bought.  A major factor to consider in a car’s maintenance is its warranty.  New cars come with factory warranties, which cover the wear and tear for most purposes, while the options of extended warranties are applicable

to most, if not all, new car purchases.  On the other hand, a used car warranty does not offer the options of extended warranties nor does it cover extended periods of time (these are short term warranties only).  So while a used car might be warranted to cover a period of six months after ownership transfer, it is most likely that the car would have been maintained so that problems only begin to arise after nine months of usage.  Unfortunately then, it is the owner of the car who will be responsible for the expenses, as

the warranty is no longer valid – as opposed to a new car warranty.