If you want to buy a car, one of the decisions is whether to buy a brand new or used version of your target model. Both versions have pros and cons – neither is automatically a better purchase. Assess your circumstances and go with the choice that satisfies your needs. Below are some key points to consider in this assessment.
Price Difference
Price is one of the top reasons people buy used cars. A new car depreciates from the moment you drive it off the showroom. Depreciation rates depend on make and model, initial price, car condition, and mileage, among others.
Some cars depreciate more than others and lose even more than a third of their value after a few years. In such cases, buying a used car may give you better value for money than buying a brand-new car. You can save thousands of dollars and still get a car that meets your needs.
Availability
Not all cars are available as both brand new and used. For example, some collector, classic, or vintage cars are no longer in production. Car manufacturers also sometimes produce limited edition cars in controlled numbers. You will likely have to buy a used vehicle if you want such a car.
Maintenance Costs
Car maintenance costs vary by make and model, age, mileage, and service history. In many cases, brand-new cars are easier to maintain than used ones. However, some cars are only reliable in their early years and become notoriously unreliable after some time. For this type of car, a used version might be a money pit, and you are better off with a brand-new one.
Critical Differences
Car manufacturers change various aspects of their products every year. They may change engine sizes, looks, dimensions, and even safety and security features. Sometimes the differences are significant; other times, they are minuscule. Evaluate the differences between your target car's previous and latest models to determine the significance of the differences.
A used model makes sense if it doesn't differ significantly from the previous one. On the other hand, consider a brand new one if it has a new feature that you want. Consider a new model with a hybrid engine that older models lack – the new model makes sense if you want a hybrid car.
Consider buying from a dealership since dealerships typically offer more buyer protection than individuals. Remember to research your target car's market value before you go to the dealership. Use the information to negotiate a fair price.
To explore more options, visit a local auto dealer such as Top Notch Auto Sales.
