Purchasing a vehicle can be a difficult decision, especially since there are many factors to consider in the choice. For instance, it is necessary for people to research different car models to ensure they’re affordable, safe, and capable of meeting all of their particular needs. There’s also the matter of choosing between brand-new and pre-owned or used vehicles.
Obviously, there are pros and cons to purchasing a new or used vehicle. For instance, used vehicles usually come at a lower price. Below is more information to help you decide which type of vehicle is the right choice for you.
Warranties for New and Used Vehicles
Many people purchase new cars simply because these come with warranties from their respective manufacturers. Thus, if something goes wrong with the powertrain, suspension system, or another covered component, the issue will get fixed for free. Pre-owned vehicles might not come with a manufacturer’s warranty, but you can always get used car warranty to protect your purchase.
Some consumers avoid used cars because they don’t want substantial out-of-pocket costs caused by an expired manufacturer’s warranty. However, that’s no reason to shy away from pre-owned cars. If you want to buy used, make it a point to protect yourself with a used car warranty that offers the coverage you need.
Which Vehicles Are Safer?
There’s not necessarily anything wrong with the safety of old vehicles. They were considered safe at the time they were built. This is especially true if you want to go with something that was manufactured in the last five years or so.
However, today’s newest cars feature the latest and most remarkable technologies, such as lane keep assist and cross-traffic alert. These advanced features are designed to keep people out of harm’s way. Therefore, if safety is a top concern, going with a brand-new vehicle might make more sense.
Infotainment and Connectivity
Modern vehicles have infotainment systems that are second to none. The units are far more than mere car stereos. People can often connect their phones to them for hands-free calling. Not to mention, the infotainment system will display GPS routes and make an owner’s life easier in many other ways.
Plus, what about staying connected? An older model doesn’t give drivers or passengers that ability. However, many top-of-the-line vehicles today come with built-in WiFi.
If you buy one of them, you and your passengers should be able to stay connected to the web. Items you may be able to use because of your car’s infotainment system and connectivity include:
- Google Maps
- Android Auto
- Apple CarPlay
Multiple Financing Options for New Vehicles
It is often easier to finance a new car than a used one. That is because vehicles straight off lots or showroom floors don’t have structural problems or maintenance issues as pre-owned autos sometimes do. In addition, the car should hold its value well because the new owner will probably care for it properly.
These factors are important to lenders because they reduce risks. When decreased risks are part of the picture, it’s easier to get banks and credit unions to loan money. If you elect to buy a new car, multiple financing options will be available. Thus, you will be able to pick and choose instead of merely accepting a bad deal.
Used Typically Equals Cheap Car Insurance
Don’t fret if you’re still on the fence about whether to buy a new or used vehicle. Instead, consider the following information. When you finance a brand-new car, the lender will require you to have full coverage insurance.
That protects them and ensures you won’t be on the hook paying out of pocket for expensive repairs when a crash occurs. However, the cost of this coverage can leave you feeling like you’re spending an arm and a leg when it’s time to renew.
Therefore, you may wish to pay cash for a used car or find a pre-owned dealership where only liability insurance is required. That will keep high-dollar insurance prices at bay and stop your bills from getting out of hand. So, if you’re worried about your insurance coverage costs, a used vehicle may suit you best.
Maintenance May Cost More With a Used Vehicle
Research reveals that automotive repair costs double every five years. Accordingly, the longer a vehicle is around, and you own it, the higher your repair and maintenance budgets will become. Hence, if that’s something that will wreak havoc on your finances, it may be better for you to purchase a new car and save some cash in terms of repair and maintenance.
Fuel-Efficient New Vehicles
Another reason to choose new over used is that modern cars are typically fuel-efficient than their older counterparts. For years, manufacturers have been replacing eight-cylinder motors with four and six turbocharged options.
These engines make for high-speed vehicles that not only pull loads but also help you save on fuel expenses. If you’re looking for a new vehicle but don’t want to deal with excessive fuel costs, a 2022 model should do the trick.
The Final Thoughts
There is no right or wrong answer regarding whether you should buy a new or used car. Rather, it is all about preference and what you want.
For instance, used cars are usually cheaper to insure, but new vehicles tend to have more fuel-efficient features. Hopefully, after reading this list and weighing other pros and cons, you are now ready to decide which direction suits you best.