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Buying new versus used

Comparing the pros & cons of buying new versus old

So, you’ve finally made the decision to upgrade from your 1979 Pinto and are ready to get a better car. Deciding which car to purchase may not be as difficult a choice as deciding whether to go new or used.

In fact, the term “used car” has become as misplaced as stone-washed jeans and cassette tapes. Car dealers prefer to call their inventory that has previously been driven as “pre-owned.” Whether you call a car used or pre-owned, there is still a choice to be made between buying one with miles on the odometer and one that is at zero.

There are pros and cons with each, but weighing out the options will help you make the best purchase for your needs.

Advantages of buying used
The sticker price is the biggest benefit to buying a used car versus a new one. Cars that are several years old will come with a much lower price tag than new versions.

Used cars also hold their value better because the bulk of the depreciation of the vehicle has already taken place. Insurance costs of a used car are also most often less than that of a new one.

Many used car dealers such as CarMax and AutoNation offer impressive warranties on all of their used cars. Volvo has a certified pre-owned inventory with warranties that span up to three years. The days have long since passed when you had to purchase a used car and only get a 30-day warranty.

Advantages of buying new
When you buy a new car, you are getting much more than just the “new-car smell.” You are getting the peace of mind in knowing that you are not inheriting anyone else’s problems. Your new car should have no performance issues, and if it does, you hopefully got a good warranty that will cover three to seven years.

Buying a new car also gives the purchaser the power to get a car with options and features that they want. Settling for what the car has because that’s all there is does not have to be a concern.

A new car is also much more likely to be one that is the latest design with the most current innovation and technology. Purchasing a used car will probably get the buyer nothing more than a good CD player, while a new-car owner can have the latest Synch technology with voice-command music capabilities.

Whether you buy new or used, do your research and find out what kind of deals are available on the car you desire. Check out the new price versus the price for the same model several years older. Price may not be the only determining factor, but it’s usually at the top of most priority lists.