No matter what you are thinking about getting, you always have the option to buy used, and this can seem like an instant savings that you find hard to pass by. Well, you are not alone in that thinking. There are actually some advantages to both new and used autos. It really will depend on how much you want to spend on an auto and what your expectations are when it comes to used auto sales.
There is no reason to rule out one or the other; it is best that you consider both first and then decide which is right for you.
New Cars
When you buy a new car, there are some assurances that you will not have if you buy used. Of course, the biggest attraction to most people is actually being the first to own and really drive the vehicle. There is a certain amount of prestige associated with purchasing a new car that cannot be matched by buying a used auto. This is a status symbol for many, and they may feel that owning a brand new car is important to them. If you feel that owning a new car is valuable for “bragging rights,” then there is most likely no persuading you otherwise. There is nothing wrong with this; some people hold different values in the car purchasing experience than others; it is just important to understand where you are at before you buy.
One of the biggest upsides to owning a new car is the manufacturer warranty; of course, you can buy an extended warranty on cars that are not brand new. The difference is that a new car’s warranty is actually built into the price, so you will not have to pay extra for this service and quality guarantee. Many consumers think that buying new will guarantee that there are no mechanical issues with the vehicle, but this is far from the truth. Many times, if you buy an auto as it is just released, you are actually more likely to get a model that has defects than not. As cars are produced and released to the public, at times new issues are found and then corrected in the production process.
One thing is sure when you buy a new car; the auto you are purchasing has not been abused by other owners. In some cases, this can mean a lot. However, you still never know how it has been handled on test drives. It is, of course, assumed that it has only been handled with care as most dealerships do not let cars go out on test drives without one of their employees going along for the ride.
Buying new can have its advantages. When you buy new, you may also be able to request special options that you would like on the vehicle that may be hard to find at used auto sales dealerships. This is something that can be very beneficial to purchasing new and directly from an authorized dealership.
Used Cars
Now, when we say used, we don’t mean that the car has to be ten or fifteen years old. You can buy a used auto that only has a few thousand miles on it, or an auto that is only one or two years old. This is what many smart consumers do to save a lot of money and still get a late model car that is in good shape. This is also one of the main reasons many people look for used cars. The value of any car drops by thousands of dollars the minute it is driven off the new car dealership lot. So, if you are looking for value and are not too concerned with the status symbol of having a brand new car, maybe buying used is the only way to go for you.
There are some other reasons why many people think that buying a used car is actually preferred. More financing options may be available to those who are purchasing a used car, than to those who buy new. Also, when you buy used, you may find that the previous owners may have already made some upgrades that come with the purchase, such as stereo equipment, custom wheels, and more. Usually, these upgrades add little if anything to the cost of the used car, so again this is added value to buying used.
Another place that consumers will really save in the long run by buying a used car is on the insurance. The price to insure a brand new car is considerably more than to insure the same vehicle after it is a couple years old. This is something that many people do not consider, but can make a huge difference in the total cost of ownership in any auto you are looking at buying. Of course, no matter what, if you are getting a loan, you may have some pre-determined rules on what type of insurance you must carry. Still, you will be able to make a noticeable savings on the cost of your vehicle insurance.
Now, for the one real downside, as we discussed earlier, you have no idea how the vehicle was treated since it was previously owned. You will never know for sure how it was driven, and if there was anything done to it that the seller just doesn’t want to share with you. However, you can always use paid services like carfax.com™ to see if any substantial damage has been done. You will not want to take advantage of services like this until you are rather serious about buying a vehicle, because they are not free. However, these services can really save you from buying a lemon, so they are highly suggested.
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