Buying a car is exciting, whether it’s brand new, or new to you. So how do you know which is the best buy for you and your family? Here at Nanaimo Wheaton GM, we get plenty of questions about the pros and cons of buying new vs. buying used. The truth is, it’s really all about preference. There are definitely some advantages to buying new, but there are also some fine selling points to buying used.
When it comes time for you to make the decision on which route you’ll take, check out this list of factors to consider.
Cost and Status
Perhaps the most major selling point of a used vehicle over a new one is cost. If a brand-new car cost the same as a used one, everybody would buy new. Unfortunately, this isn’t the case, and in fact brand new cars can carry a bit of inflation in their first year.
As soon as you drive a car off the lot it begins to depreciate, and this is doubly true for a brand-new vehicle. New models carry a bigger price tag because they are the latest and greatest vehicle available, and stand as a status symbol for those who own them. A car that’s new to stores next year will cost more than the car that is available this year, even with only a year between them.
A new car comes with a full manufacturer’s warranty, all the latest tech and gadgets, and a clean coat of paint. Of course, used cars appear on the lot with nothing to show for themselves; in fact, for the price point, you’re likely to get more out of a used vehicle.
Mileage and Value
One of the big things that weighs against the depreciation of a vehicle is mileage. In a new car, you get to be the first driver to put a mile on the odometer, but in a used vehicle, you’re getting whatever the last owner drove as well. Of course, the value of your car is still determined based on age, previous damage, and current condition, but miles count too. If you want to get the most out of a used vehicle, look for one that’s been kept in a garage most of its life and has spent little time on the freeway.
Upkeep and Maintenance
New cars come in perfect running condition, exactly the way they were designed to work. The same can’t be said about used vehicles, which could have been in previous accidents, have had replacement parts, and may not even be wearing the original coat of paint. This means that when you buy a used car you will eventually be paying for more repairs and upgrades.
Of course, a new car will require work over the years as well, but the hope is that it will need less. Brake pads, fan belts, and batteries will all need to be replaced as time wears on. If you plan to buy used, ask to see what’s under the hood and inquire as to what has been replaced so far, and how old each part is. Some used cars come souped up and in great working condition.
As we’ve said before, the choice between new and used is a personal preference, but if you’re basing your decision on pros and cons, you’ll find that in the end price is the only real defining limitation. Unless you’re a vintage car collector who can’t be bothered with the newer models, you’re probably hoping for the latest Buick or Chevrolet. If you want to buy new, but can’t stand the price tag, opt for a car which is only a few years old. A 4-5 year old car still has plenty of years to give, but doesn’t carry the same high price tag.
For more information on new and used cars currently available from Nanaimo Wheaton GM, contact us today. You can also see what’s new on our official website; our blog is updated regularly with news and interesting tips for car lovers.