Should I Buy a New or Used Car?

Buying a car is often a necessity, and it’s a big decision for most, regardless of their budget size. When deciding on whether to buy a new car or invest in a used one, there are several factors to contemplate. Consider all your options and make an informed decision after weighing the pros and cons of each option.

New Cars Offer the Most Safety Options

Driving is a part of life for many people. It’s a necessity for some to commute to and from work, and if you live in a rural or country area, you need to drive to purchase food and other supplies, as well as for medical appointments and entertainment. But, it’s also dangerous, with an estimated 20 to 50 million car accidents across the globe annually. To safeguard yourself and your family, you want the latest technology available to keep everyone safe on the road. These options can vary, but may include:

• Automated emergency braking
• Blindspot monitor
• Automatic high beams
• Forward-collision warning
• Lane departure warning

While these are often available with new vehicles, many are available on some older models.

Get the Latest Technology with a New Vehicle

Similar to the safety features, if you’re looking for something with all the bells and whistles, the best way to go is with a new vehicle. Whether you’re looking for the latest towing tech for a new, full-size SUV, wireless charging, adaptive cruise control, or park-assist, look for the latest models. Additionally, buying brand new lets you upgrade for even more tech features, an option you won’t get buying used. So, if you don’t mind paying the extra costs, most dealerships can work with you to completely customize your new ride. Add-ons consumers can consider different colors, interior materials, such as leather seats instead of standard cloth.

Buy a New Car for Fewer Repairs

Possibly one of the best reasons for buying a new car is to reduce repairs. With the right package, you can almost completely protect your vehicle for a few years from excess out-of-pocket expenses. If you were only talking about oil changes and minor repairs, such as a hole in a tire, it might not be that costly. However, most vehicle repairs can be very expensive, with many totals landing in the thousands after parts and labor charges. The majority of newer vehicles will have fewer repair costs, which means you may still save with a car that’s only a year or two old. When considering the various charges, remember that maintenance plays a significant role in these expenses. While you’ll know all previous repair work and maintenance with a new vehicle, the records for a used car or truck may be spotty.

Used Cars are Less Expensive

The overall selling point for some people is the price and anyway you look at it, new vehicles are expensive. If you can’t swing something off the assembly line, that’s okay. Many two and four-door sedans, trucks, and SUVs that are only a year or two old are easier on the bank account in several ways. You may be able to buy a used car outright, avoiding an auto loan and not worrying about interest charges, extended warranties, and additional monthly or quarterly insurance expenses. Another bonus with the used vehicle is depreciation. A new automobile starts to depreciate or lose value the second it leaves the dealership. That value will drop an estimated 30% in the first year.

You Get to Explore More Reviews & Ratings

Most people read reviews and check for safety ratings from the National Highway Traffic Safety Administration. Depending on how new the vehicle is, that information might not be available. Cars, SUVs, and trucks that are at least a year old will have reviews from drivers, consumer agencies, driving publications, and other interested organizations. These reports get more detailed as the vehicle ages and can provide a wealth of data to help you make an informed decision. For example, many include information about:

• Driving experience
• Interior design
• Exterior design
• Technology
• Safety
• Performance
• Reliability
• Overall value

A quick look at the vehicle’s overview from other drivers can make or break your decision.

Used Cars can be Less Stressful to Own

As high as owning a brand new car is, the entire process, from looking, applying for a loan, getting it insured, purchasing it, and most of all, keeping it safe, can be stressful. With a used car, even one that’s only a year or two old, you’re going to be upset about a little scratch or ding. But the model’s been on the market for over a year, and it should be relatively easy to get some touchup paint. When you have that car or truck off the assembly line, that protection mode you feel will be heightened. Luckily, as frustrating as these situations are, your dealership can help resolve these issues with little stress on your part.

Deciding on a new or used vehicle isn’t easy. Whether you choose a car that’s a few years old or something with zero miles on the odometer, your local dealership can help you get on the road again quickly with a car, truck, or SUV that meets your needs and falls within your budget.

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