When it comes time to purchase your next vehicle, it can be a difficult decision between buying new or used. One is shiny, new, and fresh out of the box. The other is experienced, distinguished, and easier on the wallet. So how do you choose? Let’s take a look at the options you have when you buy new or used cars off the lot.
New Cars are desirable for one obvious reason: they’ve never been used (…shocking). But that benefit comes at a price; often a much higher one. New cars almost always cost a decent amount more than the used versions. When you buy a new car, you’re buying more than just the new model year. Warranties that come included in new cars are worth quite a bit of dough. Having your car backed by a warranty can keep the maintenance costs low, as well as your stress.
Having a new car typically means you have the latest in technology and safety advancements. This may be something worth considering when comparing with a used vehicle. Does the used vehicle have the same amount of airbags or safety features? How are the crash test ratings? If these are important to you, it’s worth checking to see how your used options compare to your new one.
Buying a used vehicle doesn’t necessarily mean buying a clunker. In fact, in many cases, used vehicles can produce a solid and dependable performance that is equal to the new vehicle options. The biggest advantage to buying a used vehicle is the price. You can buy a 2 year old car for much less than a brand new one. Depreciation does not hit you as hard when you purchase the slightly aged vehicle.
An added bonus of buying a used car is the insurance rates. Often times, used vehicles are cheaper to insure. However, keep in mind the savings from the price tag and insurance can go out the window with repair costs. Without a warranty, all maintenance and repairs fall on you. This can be avoided slightly by purchasing a certified pre-owned vehicle. Usually these come with some kind of limited warranty, but pushes the price of the vehicle somewhere in between the new and used ones.
Buying new or used cars can be a tough decision. There are pros and cons for each option. Only you can decide whether new or used fits your needs and wants best…but hopefully this helped at least a little bit.