Caravans are tremendously reliable family vehicles, and Australians depend on them just like the rest of the world does. This is a big decision for you and your family, so don’t rush into it. Before entering into any kind of caravan finance arrangement, consider a few pros and cons of both buying and leasing. Speak with your family and get a sense of which makes them more comfortable. And perhaps even speak with a financial expert who can analyse your finances and determine which arrangement is going to be more beneficial for you over the long-term. In the meantime, here are a few tips to consider before making your big decision.
Recommendations for Buying New or Used
1. Analyse your budget: Newer vehicles typically have a longer lifespan and come with more warranties and guarantees, so they’re the obvious choice IF your budget allows it. You can get many of the same paid features of new vehicles on used vehicles as well, meaning that if you buy used, you might get a better overall new Caravan than you could afford otherwise.
2. Analyse your needs: What will you be using this Caravan for? If you need certain features, such as towing capacity and a certain number of seats, then you’re going to want to look at Caravans with these options. This means whether you buy new or used, you’ve got to have these vehicles. If you can’t afford new, you might still be able to buy used.
3. Do you want a warranty: Many used Caravans just don’t come with the type of warranty you might need for an aging vehicle. Don’t worry, though. You can often purchase extended warranties through the dealership, making a used purchase a viable option even if the original warranty expired long ago.
4. How often will you be driving? If you need a Caravan that is only required limited times throughout the year, then a used Caravan should be sufficient for your needs. If you need a Caravan that can CONSISTENTLY make a 1,000km trip, then you might want to buy new no matter what kind of financing arrangement you need.
Pros and cons of new vs used
New Caravans give you the reliability of a brand new vehicle with a strong warranty and amazing driving capacity. They also cost substantially more than a used Caravan if they’re both the same brand. The newer, the better, and that’s usually the rule. Other pros of buying new include fewer maintenance costs, better technology, and a more modern aesthetic.
Buying used has its own pros and cons. Used vehicles will almost always be cheaper in a head-to-head matchup, but that doesn’t mean that they better value. Some used vehicles simply should not be purchased at all, and if you buy used, make sure to check VIN information and potential liens on the title or other complications. However, if you thoroughly check out your used vehicle and make sure it has all the advanced features you want, you can save substantial money. A very RECENT used vehicle is often reduced in price simply because vehicles depreciate quickly in value after the first year of release. As such, you can get a great used vehicle that’s only a couple of years old and still has about as much life in it as a brand new vehicle.
Making your big decision
It can be tough to decide which option is better, but it will almost always come down to what your budget is. Some people simply can’t afford to buy new no matter how much they want to, and if this is your case, then your job is to find the best quality used Caravan that you can possibly get. This might mean hours of researching and searching through used inventory from many different dealerships. And even those who buy new don’t have an unlimited budget, so there are many choices to make in this instance as well.
Since new cars often include things like dealership fees in their first edition costs, it’s possible to get a slightly used vehicle for a much cheaper price with many of the bells and whistles of a new vehicle. The newer the used vehicle, the better. And always remember that you can discuss your financial situation with a financial specialist BEFORE you make your decision. This will help you analyse which vehicles are truly and realistically within your price range.