NEW OR USED? - THAT IS THE CAR BUYER'S QUESTION
New or used? It's a question that has confronted car buyers since the dawn of the automotive age.
To help you make up your mind we have reviewed the advantages and disadvantages of both right here in the SST Automotive News article. One thing to remember is that even though the number of advantages is higher on the new side of the column, the advantages on the used side are big ones and desrve careful review as you make your way through the want ads, and as you review used car dealer, and review new car dealer inventories.
ADVANTAGES OF BUYING NEW
Custom Order: When buying new you can often choose your option package. Pick your color. Pick your trim package. How many electronic gizmos do you want included? Which engine do you want. Just review the car and the options you want and you can have whatever fits your budget and your lifestyle.
IT'S 100% NEW! - You know exactly what you are getting with a new car. You can check new car reviews, and you can check auto dealer reviews, but at the end of the day you are buying a brand new car. So nobody else has driven it. It is factory fresh, and that brings with it peace of mind. You're covering your bases by checking the dealer reviews, and the vehicle reviews, but whatever you buy your'e getting into something that has absolutely has not been abused in any way, and you do not need to worry about how it was maintained because it's fresh off the assembly line.
WARRANTY - You're getting a warranty with a new car, even if you don't pay extra for an extended warranty. Manufacturer warranties today are better than ever, covering five and in some cases up to seven years on major components like the drive train, and even rust through on body panels.
LATEST TECHNOLOGY AND GADGETS - It's the electronics that really appeal to new car buyers today. Bluetooth, semi-autonomous driving features all appeal to consumers as much, or even more than the engine options and interiors you can pick from. By choosing to buy a new vehicle you will be getting the newest of everything available in the model you pick. Just a few years ago GPS was a new innovation. Today it's quite common in cars. Technology is evolving rapidly and and you review your new car options, you will find that a brand new car comes with the most options and the newest technology available for automobiles.
SAFETY - Vehicle design and engineering is also constantly evolving and improving, and that brings with it enhanced safety. If you buy new, you can be assured you will be getting a vehicle with the newest safety features, and safety technology that is the most current. Blind spot monitoring systems, autonomous braking systems, lane change assist, and back up cameras are all safety features that are available on new cars, but may not be available on models of cars that are only a few years old. Features like stability control, and tire pressure monitoring are now mandatory in some jurisdicitons for cars that are being sold new. Other features like brake assist and adaptive cruise control are become common on mid and low priced models, even though they were only available on upper end luxury cars just a few years ago.
BETTER FUEL ECONOMY - New cars tend to make better use of technology. The engines on newer cars are made of lighter weight materials like aluminium, and the engines breathe better. That combined with faster computer processors used in the ignition and fuel management computer systems mean that new cars can sometimes deliver better fuel economy, or more power without using more fuel. Check reviews. You will find that there are figures available for every model outlining the average annual fuel costs expected. That can help you decide which model to choose.
FINANCING - Banks will provide lower financing rates on new vehicles because there is less risk for the financial institution when the vehicle they are loaning you money for has a higher value. Review you car deals. Sometimes the cheaper car is not the better deal. If you can get financing on a newer vehicle at a lower rate your overall cost might actually turn out to be lower on a new car. In addition review car dealer, offers on new car financing. With manufacturers offering financing on new cars as low as zero-percent on some new cars it is sometimes less expensive to finance a new car than it is to buy a used vehicle, especially if you have to finance the used vehicle at a higher interest rate with terms that are not as good.
MAINTENANCE - Some new cars offer free scheduled maintenance for a certain number of miles or over a certain period of time. This practise is most common among luxury car manufacturers, but it is certainly worth something. The cost of maintaining a new car is going to be lower no matter what. It will generally be more reliable than a used vehicle too helping you avoid the cost and time associated with a break down. In addition if your new car should break down, chances are the repair will be covered under warranty if it is something major, so buying a new car can save you money on maintenance, as well as save you time because you are far less likely to be dealing with car repairs period.
LEGWORK - Once you've reviewed the brands and models of cars you like and have made your choice it's a simple matter of reviewing automotive dealerships. Pick the dealership you like best based on the reviews you read online. Or talk to a friend or relative if they have had any experience with a new car dealer. Once you decide where you might like to buy and you have visited a few new car dealers, it's a simple matter of making your best deal. By purchasing a new car you will eliminate a lot of leg work associated with buying a used vehicle, because the quality and condition of used vehicles car vary greatly from one car to another based on mileage and how well it was maintained. When buying new , you wil be buying essentially exactly the same vehicle from any dealer you choose, so it cuts down on your legwork. You really just need to find your best deal with an auto dealer you trust, because the vehicle, is the same vehicle no matter which new car dealer you buy it from. Buying new also eliminates the need or option of visiting multiple private sellers looking for the best deal on a used car.
ADVANTAGES OF BUYING USED
PRICE - When comparing apples to apples, there is no question the cash price of a used vehicle is going to be lower. In addition if you are buying used, you may be able to move up to a better model with more options because the initial cost of buying the vehicle will be lower.
DEPRECIATION - When you buy used you will be buying a vehicle that someone else has already taken a big hit on with regard to depreciation. The minute you drive a new car off the lot, it has depreciated, and every time you start the engine and drive it, it depreciates more. Cars are consumer items, and when you use them, they lose value because you are essentially using them up. Some new vehicles can lose up to 40-percent of their value in the first year of ownership.
LESS WORRY - When you buy a used vehicle it may already have a few minor dings or scratches. You may be less likely to worry about the car when you take it to the shopping centre and will not likely get as upset when someone hits it with a shopping cart, or when someone's child brushes up against it and scratches the paint with the zipper on their winter coat.
LOWER INSURANCE RATES - Insurance companies tend to charge less to insure a used vehicle. That's because a used vehicle is generally less costly to replace in the event of an accident. There are many factors involved when calculating insurance rates however so this rule does not apply universally to all vehicles. You may want to review your new car, or used car insurance options, with an insurance agent before making a purchase. The insurance rates you will need to pay could be a big factor in your final decision to buy a specific make or model, and when reviewing whether you want to purchase a new or used vehicle.
CHOICE - When buy a used vehicle you are not constricted by current model year options. You may like a particular body style on a type of vehicle from one year, over another. The bottom line is you can choose from multiple years of vehicles and in the end you may get something more to your liking or something that suits your lifestyle better.
There is no one size fits all answer to the new car, versus used car dilemma. Every individual needs to weigh their options and look at their needs. Do a little math. Read some reviews. Do your research. Make an informed decision. Buying a new car, or a used car is in many cases the second biggest expenditure many people will make in there lifetime. Buy wisely. Buy what is right for you.