Is it Better to Buy a New or Used Car?

Car dealer giving car key to buyer

 

There are distinct advantages and disadvantages to new and used cars. But is it better to buy a new or used car? Whether a new vs. used car is better for you depends entirely on your situation. Your needs, budget, priorities, and goals all can mean one or the other is best for you. Generally speaking, new vehicles are best when one plans to keep them long term, is very happy with the vehicle’s capabilities, and is willing to spend the money to buy a new car. Corpus Christi drivers who wish to spend less money on a vehicle will find deals on the used market not possible when buying new. For more information, read on, and if you have any questions, contact us!

New vs. Used Cars: Differences 

New Car Advantages

  • Newest Technology: The number one advantage of a new vehicle, that is very hard to replicate with a used vehicle, is the very latest technology. Used cars might have many similar features, but they won’t be quite as up-to-date as the features in new vehicles. 
  • Greater Fuel-Efficiency: Modern engines make the same amount of power, and in many cases, more, while being far more efficient with fuel and more enviromentally friendly. 
  • Full Warranty Coverage: Full warranties are a standard feature of new vehicles, as is that feeling of having something that is yours and yours alone.

New Car Disadvantages

  • More Expensive: The primary disadvantage of a new vehicle is the significantly higher cost. This is mostly reflected in the purchase price, but also in the insurance and other continuing costs.

Used Car Advantages

  • More Cost-Effective: The main advantage of a used car is much lower costs overall.
  • Slower Depreciation: The main driver of why used vehicles are so much cheaper than new ones, especially those five to ten years old, is depreciation. The first couple of years are the most expensive, depreciation-wise, for a car. So once that period is past, the vehicle will retain much more of its value.

Used Car Disadvantages

  • Higher-Priced Financing: While used car prices are lower and loan terms are shorter, these facts mean that lenders tend to raise interest rates on used car financing.

Shop with Allen Samuels CDJR Aransas Pass Today! 

Here at Allen Samuels CDJR Aransas Pass, we provide Kingsville and Port Lavaca drivers with the tools and information to succeed in their vehicle purchase. These include our online financing application and car buying tips. Stop by today!

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