Buying new or used cars in Malaysia – pros and cons

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It’s the age-old question that has (and will continue to confuse) countless motorists – should I buy a new car or should I use it? For most people, the lure of a factory-fresh vehicle that has only belonged to them is irresistible, but there will be those who will be swayed by some of the used offerings. Here we list some of the pros and cons of each.

New car with full manufacturer support, but at a cost

Let’s start with the most obvious benefit of buying a new vehicle: you’ll be the car’s first owner and get the full manufacturer’s warranty (and, in some cases, free maintenance) that backs it up. accompanied. This is the period when the car is least likely to go wrong: there are no hidden surprises from previous owners, and if something goes wrong, you can send it back to the dealer to be sorted free. It’s the ultimate safety net, which is especially important if you’re a first-time car buyer or someone who’s less mechanically inclined.

Buying a new car also gives you the latest in-car technology – including the most advanced safety equipment available today – as well as the all-important ability to show friends and family the next time you balik kampung. All of this comes at a (literal) cost though, as the price of the car will be at its highest; you’ll also face a sharp drop in resale value the second the car leaves the showroom, regardless of brand.

Cheaper Used Cars, More Variety, No Waiting Time

You can avoid all this by buying a used car. By its very nature, it will be cheaper to buy – someone else has already paid for most of the vehicle’s depreciation for you. This means it will be less of a burden on you financially, and if you decide to sell the car afterwards, you can often recoup most of the money you invested in it.

The used car market is also full of various options, including vehicles that have long since been discontinued. Fancy a sports car that was unaffordable a few years ago? Still thinking they “don’t make cars like they used to anymore?” Now you can put your money where your mouth is!

And then we come to the biggest benefit of buying a used car in 2021. Demand for new cars has skyrocketed this year, thanks to the easing of COVID-19 restrictions and tax refunds. government sales and service (SST). But while it’s been good for the auto industry, it’s also straining factories already strained by continued chip shortages. As a result, waiting lists now stretch for months or even years.

You won’t have to wait when it comes to a used car. The inventory is already there, all you have to do is provide the documents, sign a few forms and, if you are considering taking out a loan, wait for the bank’s approval. If you pay in cash, you can even take out the lot the same day!

Higher interest, maintenance costs; invisible problems

There are, of course, the usual pitfalls of used cars. If you opt for a loan, you will in all likelihood have to bear not only a higher down payment (there is no “full loan” here, no matter what the seller says), but also an interest rate. higher interest. Depending on the length of the loan, you could pay more than you would have paid for a new car over the long term.

You also won’t be able to check the real condition of the car unless you call in an experienced mechanic – even then, problems may not show up on a short test drive or repair. inspection. Parts that are about to fail are also potentially hidden, and if they do, you won’t have the manufacturer’s warranty to rely on if it’s already expired. Used cars are also more difficult to insure, especially if they are more than ten years old – in which case you certainly won’t be able to get first party cover.

myTukar AutoFair 2022 – advantages of used cars with fewer disadvantages

Luckily, you can avoid most of the risks of a used car if you buy one at myTukar AutoFair 2022 – held on January 7-9, 2022 at myTukar Retail Experience Center – Puchong South. It will be Malaysia’s largest used car event with over 1,000 used vehicles available, ranging from a Perodua Myvi to a Mercedes-Benz E 350 AMG line.

Every myTukar purchase includes a one-year extended warranty and one year of free service – rare for a used car purchase. And if you have a problem or simply change your mind about a vehicle, you can simply return it with the company’s five-day money-back guarantee – no questions asked.

If you buy a car at the event, you’ll also get an extra year of free service, loan interest rates as low as 1.68%, loan approval and collection of same day car and Trapo floor mats for all cars. myTukar will also be able to offer you an on-site trade-in offer for your current vehicle during the event.

Shoppers will also be entered into the myTukar Lucky Spin Wheel promotion to win one of six prizes, including a ninth generation iPad; they’ll also be vying to get home in a Proton X70 Premium with myTukar’s 4th anniversary competition.

Visitors to the event will be able to enjoy refreshments and visit partner brand booths, among other attractions. Strict COVID-19 prevention procedures will also be enforced, including contactless payments and mandatory masks, full vaccination and social distancing. More information can be found on the myTukar official website, and you can also browse the inventory here to find what you are looking for.

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