Advice on Deciding Between a New or Used Car
When you decide to shop for your next car, you’ll have to choose between buying a brand-new car fresh from the factory or a used car that’s been driven by other owners. There are benefits to both choices, depending on your personal lifestyle, budget, and overall preferences.
Are You Shopping for a Used Car? Don’t miss these important buying tips
Save money?
A new car is going to be much more expensive than a used car will be. The depreciation in value that a used car endures from years of usage and deterioration will reduce its resale cost.
So, a pre-owned vehicle that’s a few years old will cost less than a new car would, whether you finance it or pay for it entirely out of pocket. If you do pay entirely with cash — which is more feasible on a used car — you can save even more money by not taking out a loan with interest.
Replace your car sooner?
However, a new car doesn’t have the same deterioration in its condition that a used car has. You can trust that a new car is freshly built and delivered from the factory, where no one else has damaged it. Because of this, a used car will need to be replaced sooner than a new car will.
For example, if you plan to keep your car until it reaches 150,000 miles on the odometer, a used car might already be halfway there at 75,000 and need to be replaced sooner. You can wait longer before replacing a car you purchased with zero miles on the odometer.
Newer features or more features?
Because technology is ever-advancing, the newest models on the market have the best features. If you want the most advanced digital infotainment system or driving assistance systems, you’ll want to buy a new car.
However, if you put the same stack of cash toward a used car, you can actually afford more luxury features. A pre-owned vehicle’s higher-end trim levels are more affordable than a new vehicle’s ultra-loaded trim would be. So, while you won’t get the biggest new touch screen on a used model, you could get leather seats, a sunroof, heated seats, and a stronger engine.
Customize it?
It’s easy to personalize a new car by ordering it directly from the manufacturer. You can choose the color, upholstery, trim level, wheel style, and other qualities. Your options are limited on the used car. If you want anything beyond basic aftermarket accessories, you’ll have to take it to a customization garage for repainting and parts replacement.
Ultimately, choosing between a new or used car comes down to how much you want to pay for the exact car you want in the best condition. For most buyers, a pre-owned vehicle is perfectly fine for meeting their everyday needs. Just know that you may have to compromise to save some dough.
Aaron is unashamed to be a native Clevelander and the proud driver of a Hyundai Veloster Turbo (which recently replaced his 1995 Saturn SC-2). He gleefully utilizes his background in theater, literature, and communication to dramatically recite his own articles to nearby youth. Mr. Widmar happily resides in Dayton, Ohio with his magnificent wife, Vicki, but is often on the road with her exploring new destinations. Aaron has high aspirations for his writing career but often gets distracted pondering the profound nature of the human condition and forgets what he was writing… See more articles by Aaron.