New vs Used Car - Buying Advice and Tips

There are many things to consider when looking to purchase a vehicle, whether it is new or used. Buying a pre-owned vehicle can possibly save you a lot of money while a new car will offer the security of a good warranty. If anything happened to go wrong with the vehicle, the cost of repairs will be covered. It's also easier to find the particular model, color, and trim package that you want if you buy a new car.

Buying New

If there was no advantage to buying a new vehicle, car manufacturers would not invest the money in designing and manufacturing new cars. This is a great option for a long term commitment. The new cars of today are safer, well designed, with high tech features.

Full Warranty

When you purchase a new vehicle, a warranty will be included to cover the drive train as well as a lot of other parts. Some car manufacturers are offering free maintenance for an extended period to ensure proper care of the vehicle.

Technology and Safety

Buying a new car will let you enjoy the latest technology, which seems to improve every year with more options available. Rear cameras, blind spot warnings, infotainment centers, and forward collision prevention are just some of the features that are available when you purchase a new vehicle.

Financing

It is usually easier to secure financing on a new car and you will usually get a better interest rate. A new car has more value which is how loans are structured. A lot of dealers also offer financing available through the dealership, which makes purchasing the vehicle easier.

Reliability

A new car will be more reliable for more miles than a used vehicle. The fuel economy and emissions of a new car should also be better than a comparable used model.

Going the Used Route

Buying a late mode used car can save a considerable amount of money over a new model. By shopping around carefully, you can locate a used vehicle with low miles that will give you many years of trouble free service.

The Price

A new car depreciates almost instantly which will let you find a late model car at a bargain price. The average depreciation rate is close to 20 percent for the first year.

Insurance

The cost of insurance is generally less expensive on a used vehicle over a comparable new model. This can amount to considerable savings over the years.

The Best Choice

There are both pros and cons to go either route. One thing to keep in mind in not purchase a vehicle that you cannot afford. This can cause you to lose the car plus the money you already have invested in it.

If you decide to go the used route, always have the car checked thoroughly by a qualified mechanic, this includes having it road tested. Research the vehicles history, this is another service that you will have to pay for, but could save you from a lot of troubles with the vehicle in the future.

Buying a certified pre-owned vehicle is another option. The cars have been gone through and usually have a limited warranty. A lot of dealerships will help with making the right choice. The choice will ultimately be yours. Take your time and shop around. If you feel pressured to buy something, this should be a warning sign. Take some time off and seek another vehicle if you feel uncomfortable. Buying a vehicle is a major purchase and you should be satisfied with whatever you buy.