When in the market for a new vehicle, one of the first questions usually asked is whether to buy a pre-owned car or to go for something brand new? Here’s a list of the pros and cons to consider on both sides of the spectrum.
Buying A New Car
Pros Of Buying A New Car
There are many reasons why someone would choose a new car over a used one, one of which is that there is no unknown history with new cars. Another is the full warranty package that new cars generally come with and the possible deal sweeteners that dealerships offer at the point of sale. Newer cars tend to have superior technology and safety features, better fuel consumption, and lesser emissions.
Cons Of Buy A New Car
The biggest pitfall with buying a new car is the rate of depreciation. Most new cars lose up to 20% of their value as soon as you drive them out of the showroom. When you buy a brand new model, there’s also the possibility that the manufacturer alters the model, which can cause problems with maintenance down the line.
Buy A Pre-Owned Car
Pros Of Buying A Pre-Owned Car
The biggest selling point for buying a pre-owned car is that depreciation doesn’t affect used cars to the same extent as new cars. It can also be easier to save up to buy a pre-owned car with cash or to at least get something reliable and decent for a more affordable price. Certain models of used cars may have lower insurance rates. Factory warranties are also getting longer for those looking to buy pre-owned cars.
Cons Of Buying A Pre-Owned Car
When you buy a pre-owned car, it may be less reliable than a newer car, depending on how old it is and how well it has been looked after. However, you can buy quality approved cars that tend to yield less problems. Private purchases are riskier than buying from a used car dealer, even though they might come across a little cheaper. Cars sold at auction have the best price but are the most unreliable and problematic. When you buy a pre-owned car you might have less choice over the model, colour, etc.
Overall, there are pros and cons to both pre-owned and new vehicles. At the end of the day, your specific budget and needs will help you decide which one is the best for you. Let your local Auto Pedigree dealer help you choose.