Thank you all for your detailed responses. We will consider what you have mentioned. I agree that a seond-hand car that has an acceptable mileage and accident free makes a somewhat better option. But we'll still weigh the pros and cons.

Now if I may till ask as follow up question, which second-hand car models are best to purchase?

We used to own a KIA Cerato, single owner, accident-free but we were able to sell it at a really low resale price. It was used for 6 years. Only problem, as with other KIA models, was the aircon not being able to fight the heat off (during summer especially).

We have Toyota on top of our list as its ac units are tried and tested to put off the high temp in the mid east. What bout other brands like chevrolet, nissan etc...?