Benefits of Buying New vs Used
Deciding on a vehicle is tough, from the vehicle’s brand to the vehicle’s type, or even whether you should buy a new model or a used model. There are various advantages and disadvantages to each choice, so it’s best to have a full understanding of what to expect before you head to the dealership. That’s why we’re sharing some of the benefits of buying new vs used vehicles.
Why should I buy a new vehicle?
There are a number of advantages to having a new vehicle, probably the biggest being that it is the newest model, so it will have the most advanced features and technologies. Plus, newer vehicles have better safety ratings and can be equipped with a manufacturer’s best safety technology like driver-assistive features such as collision avoidance systems. Some of the other reasons to want a new car include the fact that it has never had a different owner before you, and most maintenance can be covered under the manufacturer’s and/or dealership’s warranties. New cars also have better fuel efficiency compared to used vehicles.
However, even with all of those advantages, buying new has its downside as well. For instance, a major disadvantage is the amount of vehicle depreciation that happens (just driving the new vehicle off the lot causes a good amount of depreciation). New vehicles also have a higher sales tax and cost more to have insured. And if you do need to have maintenance on the vehicle, it can be more expensive if it isn’t under the warranty.
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Why should I buy a used vehicle?
Probably one of the biggest advantages of getting a used vehicle is that the initial depreciation has already happened, so you won’t have to worry about that and you’ll save a good amount since the cost of the vehicle has gone down (the first 5 years or so see the most vehicle depreciation). Repairs are also less expensive, and car insurance is more affordable. Plus, all of the more premium amenities (like leather seats or a navigational system) don’t add a lot of cost to the price, so you can get a model with more bells and whistles without breaking the bank. And although this was a much bigger concern before, nowadays, even used models have better reliability and dependability.
Of course, buying a used car has its disadvantages, such as the fact that you have less of an opportunity to customize/personalize your vehicle. And even though vehicles have better reliability overall, used vehicles are still less dependable compared to new models—the same goes for its fuel efficiency as well. Plus, as a vehicle ages, the more maintenance it will need, which can get pricey after a while.
For the most part, buying a new or used vehicle really depends on personal preference and any future plans you may have for the vehicle you get. If you would like any more car buying advice, feel free to reach out to our great sales team online or by calling 731-642-5661.