There are a lot of questions involved in the process of buying a car, but the first, simplest one is probably the most important: Should you buy new or used? To help you choose, we’ve laid out the advantages of both below. Keep in mind that although there are more advantages listed on the new side, the pros in the used column are big ones and in many cases can be more to your advantage.
ADVANTAGES OF BUYING NEW
Made to Order — Chances are, you can spec a new car just the way you want it, or at least have the dealer search for one with the right combination of options and interior and exterior colors.
It’s Not Used — Well, duh. A new car hasn’t been in any accidents, hasn’t been mistreated by unknown evildoers, doesn’t smell funny, has seen no wear or tear, and comes with a clean history that includes only being driven off the line, onto a transporter, and around the dealer’s lot.
Warranty — Like the rest of it, the new car’s warranty is untouched. You can buy warranties for used cars or go the certified preowned route, but the best warranty you can get—without paying extra—will be the one that comes with a new car from the manufacturer.
Latest Gizmos — The newer the car, the more modern the geeky tech that’s packed inside. Multimedia and navigation interfaces are constantly evolving and improving, so if you have to have the latest in gadgets (and don’t want to add them yourself post-factory) the selection will be better in the new-car showroom.
Safety — As vehicle safety laws become ever more stringent, automakers are forced to change the way vehicles are built and the safety systems with which they are equipped. Some form of tire pressure monitoring is now mandatory on all vehicles sold in the U.S., and by 2012, stability control will be, too. Other technologies that are not mandated, like blind-spot monitoring systems, side curtain airbags, adaptive cruise control, and brake assist are becoming more prevalent on less expensive vehicles as their associated costs come down.
Higher Fuel Efficiency and Lower Emissions — Again, partly thanks to Big Brother, cars are largely getting more fuel efficient, even while simultaneously getting more powerful. The newest crop of diesels is cleaner than ever before, and choices in the hybrid segment are growing, too, if that’s your thing.
Financing — Banks offer lower financing rates on new vehicles because the vehicles are inherently worth more and have not already been hit by depreciation. Keep in mind that, when the lower APR still applies to a larger sum, your payments or total cost may still be higher. But if you plan to finance, check your deals before buying. The cheaper car might not turn out to be the better deal in the long run.
Maintenance — Some new cars, mainly those from luxury marques, include free scheduled maintenance for a certain amount of time or mileage. This built-in cost saving should be considered in the final price analysis if applicable.
Legwork — Once you’ve chosen a vehicle, or at least the brand you’re interested in, much of the new-car search can be offloaded on the salesperson, who can find the car you ask for. The same search in the used realm requires a lot more legwork on your part—hunting on the internet, visiting multiple private sellers, and driving from used lot to used lot.
ADVANTAGES OF BUYING USED
Price — Comparing apples to apples, a used car is going to be less expensive. The relative advantage of the used-car price can also allow a buyer to step up to a nicer model.
Depreciation — Cars lose value with each passing month and mile, but the steepest decline happens right away; some models can lose 40 percent or more of their value in the first year. With a used car, there’s no depreciation hit the second you roll off the lot. There’s also less mental depreciation, no need to worry about the first parking-lot ding or rock chip in the paint because chances are the car’s previous owner or owners took care of those for you.
Insurance Rates — Like financing, insurance rates will be affected by the age of a car, but in this case the used vehicle tends to be less expensive. A little bit of pre-purchase research will save you from insurance sticker shock, no matter which vehicle you choose.
Choice — Although you obviously can’t build a used car to order, maybe you want a model, option package, or even wheel design that’s no longer made. This wider selection can add to the length of the search, but perfection and satisfaction rarely come easily.success kid now success mindset motivational quotes success positive affirmations success spelling success story the key to success the smell of success vaccine success rate weight loss success what is the success rate of proton therapy what is the success rate of radiation therapy what led to henry ford's success as an entrepreneur 16/8 intermittent fasting success stories best days to take for success career success high school connect for success fedex lake success how to spell success keto success stories national society of leadership and success reviews pfizer success rate positive affirmations for success purdue success factors login reading for success sanford success center secret of my success soundtrack success academy union square success breeds success success in high school success is not final failure is not fatal success is not final quote success vision conway ar success winston churchill quotes the road to success there is no elevator to success unconventional success what is success whole food success factors workman success systems dua for success dua for success hair transplant success rate how to measure success ivf success rates by age and number of embryos ladder of success lexapro success stories lung transplant success rate mirtazapine success stories outliers: the story of success ovidrel trigger shot success rate pcos pregnancy success rate positive affirmations success prayer for success professional success sayings on success success academy middle schools success baby success ce success ed login success hunters success rice boil in bag team success the national society of leadership and success reddit will success spoil rock hunter? 600 lb life success stories bone marrow transplant success rate breastfeeding success bumble success stories carpal tunnel surgery success rate conjoined triangles of success continuing success coq10 fertility success crystal for success dress for success chicago ek success entrepeneur success stories equipped for reading success everyday success team fistula surgery success rate getting off lexapro success stories great success meme hair transplant success rate heart transplant success rate ivf success rates by age jmu student success center keno success lpr success stories massage envy lake success measuring success quotes microsoft customer success manager salary palmers skin success pgs normal embryo success rate pillars of success podcast success pyramid of success quotes for success woman road to success seven spiritual laws of success spell success success factor wellstar success in french success is not final failure is not fatal success positive motivational quotes success poster success rates of ivf success winston churchill quotes success word the 7 spiritual laws of success the five rules of success trump has created 515 businesses and only 11 of them failed. that's a 98.64% success rate. weight loss success stories 2020 wellstar success factors what is a customer success manager what principles contribute to personal and professional success why is effective communication important to career success wishing you success 5 dpo symptoms success stories 600 lb life success stories achieve success african american quotes about success best success books castor oil at 37 weeks success celebrate success quote center for success and independence failure to success famous quotes about success gerson therapy success rate gerson therapy success rate gum graft success rate in vitro fertilization success rate la fitness lake success laser treatment for toenail fungus success rate 2020 leapfrog leapstart preschool success measure success quotes motivational quotes for students success opdivo and yervoy success stories pain pump success rate pictures of success quote about success quotes about success secret to success success academy uniform success academy union square success com success gif success in chinese success is not final success kid now success mindset success pictures success spell success virtual learning center the best revenge is massive success was d day a success weight loss success stories what is the success rate of heart valve replacement surgery which of the following groups have had notable political success by litigating in federal courts? words that mean success books about success center for academic success fenbendazole cancer success stories how i raised myself from failure to success in selling morning affirmations for success nextgen success community pathways to success was the new deal a success or failure 5aa embryo success rate aes success login carpal tunnel surgery success rate cone biopsy success rate driving to success education is the key to success