Should I Buy a New or Used Car?
When shopping for your next vehicle, it’s completely understandable that you might be overwhelmed by the sheer amount of choices available to you. Whether you’re sticking to a budget or simply adjusting to a change in your driving needs, deciding whether it makes more sense to buy a used car or a new car can seem challenging at first. Fortunately, our team at Basil Family Dealerships is standing by to help! We’ve assembled this handy guide that lists the advantages that come from buying both new and used cars. You’ll have all the information you need to make an informed decision. Let’s begin!
Benefits of Buying a New Car
You’re The First Owner
While it’s quite obvious, one of the biggest advantages of buying a new car is the satisfaction of knowing that you’re the very first owner to drive it off the lot! You’ll get to enjoy that new-car smell along with the peace of mind that comes from knowing your tires, brake pads, and paint finish are brand new. No previous owners have abused your vehicle, spilled coffee in the back seat, or damaged the wheels on a curb.
Factory Warranty Coverage
There’s no substitute for the confidence and peace of mind that comes from knowing that your new car is backed by factory warranty coverage. Although terms vary by manufacturer, you’ll typically receive several years of coverage in terms of both a bumper-to-bumper warranty and perhaps even longer for the powertrain. In the unlikely event that your vehicle experiences a problem, you won’t have to pay out of pocket for expensive repairs.
Choose Your Features & Options
Buying a new car generally gives you greater flexibility when it comes to choosing individual features, options, and interior/exterior colors. You can choose between various trim levels and select the options that are most important to you. When shopping for a used car, you’ll often end up either missing out on the features you want or paying extra for those that you don’t.
Current Technology
Driving a brand-new car means that you’ll receive the latest and greatest in terms of in-vehicle technology. From smartphone compatibility like Apple CarPlay and Android Auto to cutting-edge driver-assistive safety features like adaptive cruise control – buying new is the best way to ensure that you have access to these great features.
Benefits of Buying a Used Car
Affordability
One of the biggest advantages that comes from shopping for a used vehicle is the fact that your dollar can go so much further compared to buying new. For example, you could consider shopping for a higher trim level of a particular model that’s a few years old for the same price as the base model of the same model on the new market. Particularly in situations where a given model hasn’t changed over the span of several years, you can enjoy nearly the same vehicle at a much more affordable price.
Selection
Shopping for a used car allows you to experience the freedom and flexibility that comes from exploring all brands and types of vehicles. You can easily compare models, browse their features, and choose the one that’s best suited for your lifestyle and driving needs. Looking for a silver luxury car? How about a 4X4 crew-cab pickup truck? You’ll have many more options compared to shopping just a single brand.
Less Depreciation Risk
One of the largest drawbacks to purchasing a new car is the fact that they depreciate in value quite rapidly. Since the first owner of a used car likely already took a sizable depreciation hit, you won’t have to worry as much about a sudden decrease in its value! Even if your driving needs change within a year or two, you won’t have to deal with the sudden shock compared to selling a brand-new vehicle.
Lower Insurance Costs
While there are a variety of factors involved in determining the insurance costs of any given vehicle, used vehicles generally cost less to insure than new vehicles. It’s yet another reason to consider shopping used. Saving money is something that’s always universally appreciated when shopping for your next vehicle.