Like many decisions in our life, the case of buying a new or used car boils down to money. However, if we have the flexibility in our budget to decide between buying new or used, here are some advantages of each option to help us reach our final decision.

There's a deep sense of pride that comes with being the initial owner of a car. Not only do we get a brand spanking new car but we also get to choose the colour of our vehicle and its features. Here are some other pros.

If we choose to buy new, it's unlikely our cars will require a new battery, tyres, exhaust system and breaks for the first few years. The only thing we should have to think about, after the first 5000 to 7500 kilometres, is getting an oil change and a tune up. Some of these initial routine maintenance costs are even covered by the manufacturer so we don't have to think about reaching into our pockets.

New vehicles also come with a manufacturer warranty for at least the first couple of years. This means if something goes wrong with our new car or we buy a lemon, it's the responsibility of the dealer or manufacturer to fix it. NB: It is important for us to check the warranty on our new cars as they often come with a mileage limit.

Many new cars come with a standard 3 year roadside assistance so in the unlikely event of a crash or breakdown we are never left in the lurch. Checking with the dealer to see if this is included, or negotiating it into the price of our vehicle if it's not, makes buying a new car even more appealing.

Knowing our new car is backed by warranty coverage and is unlikely to have any large maintenance costs within the first few years can help us relax - especially when we're planning ahead and creating budgets.

If we want to avoid burning a hole in our pockets, there are many fantastic used cars out there on the market. The key is to shop around and do our research so we know what to look for when buying a used car from a private seller. A good rule of thumb is to stick to dealers who are actually representing a car brand rather than car yards that are selling all types of cars. This principle increases the chances of your salesperson having personal connection with the car brand and the associated pride and accountability for quality of product and service.

Here are some other advantages of buying used cars.

Even though used cars do not typically come with the same warranties as new vehicles, the original owners may have opted to buy a longer-term warranty or added their own extended warranties. This warranty can be transferred to the second owner if there is still time left on it.

As soon as we drive a new car out of the car yard, it goes down in value. Some new cars lose as much as 40% of their value in the first year. Whilst the value of a second-hand car will of course go down we won't be hit as hard compared with buying new.

We can be very precious with our new cars which is fantastic, but if we buy used and our car happens to get a small scratch or our suspension gets hit, we may save ourselves some emotional hurt. We might also be willing to take that adventure or shortcut down an unpaved road!

Weighing up what advantages matter to us the most will help us make a decision as to whether we buy a brand spanking new car or a good quality used car.

Happy shopping!