With 500 million VND, should you choose to buy a new or used car?
With a budget of around 500 million VND, many people are unsure whether to buy a new or used car.
Used Cars Have Many Advantages
Given the sluggishness of the car market since the beginning of the year, used car garage owners have had to adjust their strategies to adapt to the current situation. Anh Lê Quang, the owner of Lê Quang Used Car Garage (Nguyễn Văn Cừ - Gia Lâm - Hanoi), shared: "We've expanded our sales channels, including marketing, advertising on social media, and specialized car forums. Additionally, we focus on customer care after transactions. Each used car has its unique characteristics, and no two cars are the same. Therefore, we carefully select and introduce high-quality, well-maintained vehicles to our customers."
According to Anh Lê Quang, thanks to the "self-renewal" of the used car market, customers with a modest budget should not overlook the option of choosing a used car, as long as they ensure it's still in good condition.
Anh Tuấn Đại, the owner of Hoàng Tuấn Used Car Showroom (Cầu Giấy), also pointed out that price is a significant and positive factor when buying a used car. The price of a used car is usually significantly lower than that of a new one. "Even if you buy a new car, its value will depreciate by 10 to 15% after just a short period of use. Therefore, purchasing a used car can save you a significant amount of money," Anh Tuấn Đại noted.
Another advantage of used cars is the variety of segments available. According to experts, with a budget of 500 million VND, consumers may struggle to choose a new car, but if they opt for a used car, they'll have more comfortable options.
"When you have a limited budget, buying a new car may restrict your choices. On the other hand, buying a used car offers more options, and you might even afford a car from a higher segment. This is why many people prefer to buy a used car from a higher segment rather than a new car from a lower segment. Additionally, the value retention of used cars is another benefit. A car can lose up to 10% of its value each year during the first three years, but after that, the depreciation rate drops to around 5%. This makes reselling a used car less costly than selling a new one. This is one of the main reasons why many people choose to buy a used car," shared Ngô Tiến, who has many years of experience in the used car business.
New Cars Are Still Preferred
Based on years of experience in the automotive industry and through advising many customers, Mạnh Tuấn (Hyundai Phạm Văn Đồng Showroom) believes that choosing to buy a new car with a budget of around 500 million VND is a smart and reasonable decision.
Mạnh Tuấn shared that new cars usually come with many incentives and promotions from dealerships and manufacturers, including insurance, free maintenance for a certain period, and after-sales service packages. These benefits not only help save on usage costs but also provide peace of mind regarding the technical and product quality.
Moreover, new cars are typically equipped with more modern and advanced technology compared to used cars, from safety systems to comfort features and driver assistance technologies. This not only enhances the driving experience but also ensures greater safety for users.
Additionally, new cars do not have the issues associated with usage history, such as accidents, improper maintenance, or wear and tear due to time and previous owners' use. This helps customers avoid unwanted risks and save on repair and maintenance costs.
With a budget of 500 million VND, customers can choose new models from Hyundai, such as the Hyundai I10, Hyundai Accent, Hyundai Venue, or other models like Mazda2, Toyota Vios...
Making a Smart Choice
With a budget of around 500 million VND, consumers need to be very wise. When buying a new car, you don't need to worry too much; you just need to choose a car that fits your budget, preferences, and work needs. However, with 500 million VND (including registration costs), this is almost the lowest price to own a new car, and you'll only be able to choose from a few models in the A-segment.
If you choose to buy a used car, with 500 million VND, you can select from a variety of models in segments A, B, and C. However, when buying a used car, customers need to consider several different criteria. First, regarding the car's age. According to current regulations, cars that have been in use for up to 7 years have a registration cycle of 18 months; cars between 7 and 12 years old have a 12-month registration cycle; and cars over 12 years old have a 6-month registration cycle. Therefore, when buying a used car, it's best to choose one that's been used for less than 6 years, as its usage value is still high.
Of course, the car's age is just one of many factors to consider when buying a used car. The condition of the car depends on various factors, such as the car type, model, brand, and especially how the previous owner cared for and maintained it. For example, Japanese brands like Toyota, Honda, and Mitsubishi are known for their durability and stability. If properly cared for, driven correctly, and maintained on schedule, the car will maintain good performance.
"If you're buying a used car, you should only proceed if you really understand cars and can evaluate them yourself. If not, you should find a trusted person to help you, minimizing the risk of hiring a third party to appraise the car. Additionally, buyers should choose to purchase from reputable dealerships that provide a written commitment to the car's quality," an automotive expert advised.
The proposal to reduce the registration fee by 50% for domestically manufactured and assembled cars will make the car market more vibrant. Especially in the last months of the year, when car-buying demand tends to increase, choosing a new or used car requires the buyer's wisdom. Customers need to answer several questions for themselves, such as usage needs, financial capacity, personal preferences, and the car's origin (if it's a used car), to make the most informed decision.
Original article and pictures by AutoPro
