Should I Buy a New or Used Vehicle?
For most people, buying a car can be a big, crippling decision. Your car is an important (and expensive) investment that you need to put real thought into.
There are dozens of items to consider when car shopping. What model do I get? What are my insurance rates? Should I buy a new or used car?
That last question is the focus of this article.
The Big Question: Should I Buy a New or Used Car
There are many concerns and misconceptions about both new and used cars. Some say used cars could break down at any moment. Some say new cars are a waste of money.
The truth of the matter is both new and used cars have positives and negatives. Which one fits your needs is all dependent on your budget and desires.
Let's sort through the details and figure out which one may fit you best.
Buying Brand New
New cars have a lot of appeal. While a new car doesn't have to be from this year, there is a certain splendor to a nice, new car. Is that splendor worth the cost? It isn't the only benefit of a new car.
1. The Latest Tech
Each year, there are new additions and fancier tools that get put into the latest car. Even if you are buying a few years old, a recent car has a lot of gadgets that can make your ride comfortable and safe.
2. Finance Offers
When looking to buy a new car, dealers will offer a lot of nice deals to ease the initial buying burden.
If you can't afford to buy outright, you can get some great deals on vehicle financing to let you enjoy your new car without damaging your wallet.
Warranties are the key factor that helps keep your big investment safe. Any major issues and your warranty can cover it.
Most new cars have good warranties and you can even extend the ones you get. Used cars often don't have this luxury, which can fuel the fear that they will break down on you.
Buying Reliable and Used
Have no fear of good used cars, though, because a quality used car can save you a lot of money and be reliable for years to come.
1. Lower Cost
The biggest draw of a used car is often the price tag. You can save thousands buying used over new.
Many used cars come from well-meaning owners, so some cars that have clocked up a good number of miles are still in great condition. This makes the savings all the sweeter when the car is like new anyways!
2. Slower Depreciation
Depreciation is how much your car may lose in value over time. As newer cars come out, your older model won't be as high in demand.
Used cars don't have this problem as much. The biggest hit in depreciation is in the first few years. After that, it slows down a lot. The difference between a 2004 and a 2000 isn't as big as a 2019 versus a 2016.
3. Down Payments
Because of the low cost of a used car, you can often put a lot more of a substantial down payment. This can help you get better loans and deals and keeps you from hitting that big interest rate.
The Right Car, Right in the Neighborhood
Answering "should I buy a new or used car?" is something only you can do but knowing more about your two options should help you come to grips on how to answer that question.
No matter which one you decide on, Newberg Chevrolet is here to help you! We serve car buyers from Portland to Beaverton, Sherwood to Happy Valley. Interested? Contact us today for more information!