We know that making a car purchase can be one of the most difficult decisions many people will make. Even though houses can be much more expensive, people tend to put a lot more thought into which car they will buy. For this reason, we have created the following list of advantages related to buying either new or used cars. We hope you find them useful.
Buying A New Car
- - Having a car with a completely new warranty is worth a lot of money to some buyers, and rightly so. Knowing that your vehicle will be covered in the event of any problems is huge for peace-of-mind. While you can purchase warranties for used vehicles, new warranties from the manufacturer are always a better value.
- - New car financing plans enjoy low interest rates thanks to specials from the manufacturer. You can almost always get a better APR on a new car and end up paying a lower percentage in interest. This is simply because banks put more value on a new car than a used one.
- New Technology
- - New cars have the distinct advantage of enjoying the latest technology that may not have been available for the model year prior. This applies to all areas of technology, including convenience, safety, and even engine management. In the past couple of years, high-tech goodies like infotainment systems, navigation, and touch screens have become more and more common. Likewise, as more drivers hit the road, safety regulations become more stringent and safety technology has to advance in order to keep up. This includes everything, from stability control, lane departure warnings, and blind spot monitors, to tire pressure monitoring, brake assist, adaptive cruise control, and more. Fuel efficiency also continues to go up thanks to technology. Direct fuel injection, efficient transmissions, and low rolling-resistance tires are all a direct result of technology advancements in vehicle engineering.
- It’s YOUR Car
- - Obviously, a new car has not been driven on a daily basis and neglected by another driver for a number of years. When you buy a new car, you know for a certainty what its history and records look like and you don’t have to wonder if something big has been neglected. You are also able to order the new car the way you want it. You don’t have to put up with having the perfect car, EXCEPT for the cassette player. If you want the latest tech or the best looking color, you can buy it that way.
Buying A Used Car
- - This is perhaps the most obvious advantage in buying a used car. When you drive a new car off the lot it loses a huge amount of value in depreciation instantly. This is not the case with a car that is even only a couple of years old. If you buy a five year old car, it probably won’t lose much value while you own it. This means you can buy a lightly used car with all the bells and whistles for less than you could probably buy the same car new as a base model with no options. Used car buyers can also take advantage of some great certified pre-owned programs that ensure the car is in like-new condition and even sometimes provide a partial warranty.
- Cost To Insure
- - Insurance rates for used cars are much lower than those of new cars. By saving here, you will spend less each month and in the end you could save quite a bit of cash.
- Supply And Demand
- - With the nation still in recovery mode and the economy not quite up to its previous strength, there are a lot of used cars on dealership lots. This means that you have a lot more choice in what you can get for your dollar. You also have the option to get unique models, designs, or package options that might not be available any longer. If you know what you’re looking for, there’s a good chance you can find it used in today’s market.
- More Wiggle Room
- - New cars often don’t have much room for price negotiation these days. Sure you can buy during specials or wait until the end of the model year, but if you really think you’ve got the skills to haggle, the used car market is the place to look. You can leverage a trade-in, use your mechanical expertise, and even flat-out negotiate for more when you buy used.