Buying a car is a big decision, and the process is shaped by whether you buy new or buy used.

There are pros and cons to both options. As the first owner of a brand-new car, you’ll have warranty coverage and the latest model with the most up-to-date trim and technology. But with a secondhand car you often get more for your money, or an equivalent model at a significant discount, although you also need to factor in MOTs, servicing and warranty costs.

The decision can feel overwhelming, so today we’re breaking down the basic reasons to buy new or buy used. But remember, there’s no one-size-fits-all answer—it all depends on your needs, budget and circumstances.

Buying new: the pros and cons

When we say new car, we mean a car that’s fresh out of the factory, with you as its first ever owner. With a new car you’ll get one of the latest models, and it’ll be covered by a manufacturer’s warranty, meaning you needn’t worry about MOTs for the first three years. Of course, these perks come at a premium: new cars generally cost significantly more than their used counterparts. They also tend to depreciate faster.

You’re the first owner

There’s just something special about knowing no one’s owned the car before you. That touchscreen’s brand-new, no other driver’s taken the wheel—even the cup holder’s waiting for that inaugural cappuccino at the motorway services. Plus you have the peace of mind that there’s no hidden damage that might become apparent only weeks or even months after purchase.

You’ll pay more for the privilege

New cars almost always cost more than comparable secondhand cars, and you’ll also need to account for the fact that your new car will probably depreciate rapidly.

The spec is precisely how you want it

When you order a new car, you get to decide on the trim. You can choose its colour, wheels and equipment, as well as any accessory that takes your fancy.

You might have to wait a while for the key

You might face a wait as the car’s put together according to your spec. Depending on the model, this ranges from between a few weeks to over a year.

You’ll get a manufacturer’s warranty

Every new car is covered by a manufacturer’s warranty from the date it’s registered. That means you can take full advantage of its full coverage should any problems arise during ownership.

You may face a higher insurance premium

Depending on your chosen model, your new car may require costlier parts should it get damaged, resulting in a pricier insurance premium.

You needn’t worry about an MOT (for now)

New cars don’t need an MOT until three years after registration.

Buying used: the pros and cons

By used car we mean one that’s been registered with another owner and has covered more miles than those travelled during delivery. There’s a vast spectrum of used cars, from so-called nearly new ex-demonstrators with no more than a few hundred miles on the odometer to trusty but tired steeds with seven previous owners and a few hundred thousand miles under their belts. Used cars naturally cost less than their new counterparts, but by the same token you rarely enjoy the luxury of a warranty, and need to be mindful of MOTs.

You’ll save significantly

Clearly the single biggest benefit of buying used is the significant price cut compared to buying a comparable new car. This is especially true if you opt for an older model whose value has already drastically depreciated.

You may not get a warranty

A manufacturer’s warranty runs from the day the car is registered, so the warranty on your used car may have expired by the time you buy it. Even if it’s still covered, the period will be shorter than that of a new car.

You get ‘more car’ for your money

It may be that what you’d have spent on a new car can actually get you a higher-spec used car. Often this is the smart choice!

You’re more likely to experience problems

A used car will likely have some wear and tear and be more prone to issues than a new car, although of course this is wildly variable, depending on how well its previous owners have looked after it.

You won’t have to wait for the key

A new car may take some time to be delivered—sometimes because it hasn’t actually been put together yet—whereas a used car can often be purchased right then and there.

You’ll usually be responsible for servicing and MOTs

New cars don’t need an MOT until three years after registration, and they often come with servicing packages, but neither of these is true of most used cars. Furthermore, used cars older than three years must undergo an MOT annually, which you must arrange. You’ll need to factor in yearly servicing costs, too.

How can I decide whether to buy new or buy used?

Buying new or buying used comes down to what you need in your life, as well as what you’ll get for your money.''

You should buy new if you want to:

• Choose the spec
• Enjoy the latest model
• Be the very first owner
• Secure a manufacturer’s warranty

You should buy used if you want to:

• Get more for your money
• Have a car now rather than wait for production and delivery
• Save on the upfront cost of the car, while acknowledging you’re committing to potentially higher maintenance costs in the longer term.

Buying used? Look no further than Car Planet

So you’ve opted to buy used—good choice! And if you’re in Watford or Hertfordshire, the process really couldn’t be easier—just head to Car Planet.