Purchasing your next vehicle comes with a number of decisions that you need to make. One of the most important choices to make is deciding between new vs used vehicles, with either option coming with its own advantages and disadvantages. Below we highlight the pros and cons of each to help you out on the search for your next dream ride.
Advantages of Buying New
Perhaps the most attractive reason to buy a new vehicle is that you know exactly what you’re getting. All the components of your vehicle will be factory-quality and in perfect condition from the day you drive off the lot in your vehicle. You’ll also have all of the warranty coverage that comes with a new vehicle, in the event of any defect in your vehicle.
Buying a new vehicle also means having access to all the latest technology and innovations that are included in current models. You’ll also get more freedom of choice when choosing the vehicle. Choose all of the optional features that you want to be included and pick the paint job and other style elements that suit you best.
Downsides of a New Vehicle
The assured quality that purchasing a new vehicle provides does come at a cost. Dealers charge a much higher price for a brand-new car than a vehicle that had a previous owner. A new vehicle will also begin to lose value quickly after its purchase. As much as 11% of the value can be lost just on the ride home from purchasing the vehicle, causing you to lose money in the investment that you made.
New vehicles also come with higher costs to customize and get the exact features that you want. Each additional feature that you add when designing the vehicle will add to the price. Insurance providers will also charge you higher fees and premiums to cover a new vehicle because of the higher cost to replace any damaged components.
Why to Buy Your Vehicle Used
Naturally, the number one reason that many drivers choose to buy a used vehicle is the money that you’ll save. Even a lightly used vehicle will come at a much lower price than one that is fresh from the manufacturing line. Not only will you save money at the initial purchase, but the vehicle will also depreciate far less as you drive it compared to how quickly a new vehicle loses value.
Lower registration fees and lower insurance premiums will continue to give you a great value on a used vehicle after you make your initial purchase, too. You can rest assured that you aren’t cutting corners on quality to get that great value either because used vehicles purchased from a reputable dealer will all be thoroughly inspected to ensure their quality and safety.
Disadvantages of a Used Vehicle
Depending on the age and quality of the used vehicle that you find, it might not come with all of the most cutting-edge features that you’re looking for. You may not have all of the technology, fuel efficiency, or other perks that more modern vehicles can offer for you.
Another drawback is that, despite saving a lot of money on your initial purchase, you may end up spending more on maintenance for a used vehicle. While a new vehicle is likely not to have any issues for many years, a used vehicle could have maintenance concerns that you’ll have to address early into owning it. You also don’t know if previous owners were caring for the vehicle properly.
What’s the Right Choice for Me?
Unfortunately, there is no easy answer for whether buying new or buying used is better when shopping for a vehicle. The right choice will always come down to your needs as a driver and the deals available to you. What’s important is that you’re fully aware of the benefits and drawbacks of either choice and that you do your research on a variety of offers for both new and used vehicles to find the deal that suits you best.
Having the right tools on your side to search for new and used vehicles can make all the difference in finding the best deals for you. Our system provides you with a convenient way to quickly search through millions of offers to find the ride that suits you best. Now go forth and find the vehicle of your dreams!