Should You Purchase New Or Used
Purchasing a new vehicle (or new-to-you) is an exciting time as you get to choose your favourite colour, brand, features, business, and more. However, there can sometimes be so many options that we don’t even know where to start looking. If you’re in the market for a new vehicle but are unsure if you should venture towards new or used, consider these benefits and figure out which works best for your budget and lifestyle.
Something to consider when looking at a new-to-you vehicle is that they often cost less than new. There has been some driving already put on the odometer and maybe some wear and tear, but typically used would be the way to go if you’re looking for something a little cheaper than brand new. The good news, however, if you purchase pre-owned then you can avoid the initial depreciation hit that your vehicle takes once it drives off the lot when new. Vehicles still depreciate with time, but less quickly than if you were to first purchase them brand new.
There are normally so many vehicles to choose from when you are purchasing pre-owned – with new, you are limited to the body style that is offered for that year, whereas pre-owned allows you to choose from any brand, model, and year on the lot. Most car dealers offer a large selection of pre-owned inventory to choose from, so if you have your heart set on a specific feature, chances are, you’ll be able to find it in one of the pre-loved vehicles.
Since pre-owned vehicles have typically been on the road for a longer period of time, you can actually research the model and its performance over time. You can also see the specific vehicle you have your heart set on’s carfax and see its specific history with previous drivers.
Sometimes, depending on the year, the original warranty may remain on the vehicle you’ve selected. Most new cars come with a three-year warranty and depending on when they traded their vehicle in, you may be able to take advantage of that same warranty which means more protection for you.
5) Hidden Fees
With pre-owned vehicles, you don’t need to worry about any hidden fees as everything is provided upfront. This means no paying for shipping costs are anything similar as the vehicle is already on the lot and was brought there without the dealership needing to arrange delivery.
While buying pre-owned vehicles comes with great benefits, as mentioned above, purchasing a new vehicle also comes with some great advantages as well.
When purchasing new, you get to take advantage of great reliability records. If anything seems to go amiss within the first few years, the vehicle is normally covered by a factory warranty. If you’re purchasing new one, you also don’t need to worry about how it was driven before you took possession and what history comes with the vehicle.
2) Roadside Assistance
Many new vehicles come with roadside assistance which can save you money in the event of an emergency. This means you can stress less about having to get your own coverage or paying for a towing bill.
New vehicles come with the latest and up-to-date features. Some examples of this would include the latest fuel efficiency standards, technology such as wireless charging, etc.
If shopping new, you can take advantage of lower finance and lease rates which could be as low as 0%. Purchasing used normally means higher rates, but with new, you can take advantage of lower rates if you have good credit which means you can normally find something within your budget due to various terms.
You can take advantage of cheaper insurance with a newer car as there is less risk of a mechanical failure occurring. Though there is no guarantee, purchasing a new car comes with less of a chance of something going wrong, which is why insurance is typically cheaper when it comes to your monthly payment.
There are so many pros and cons of purchasing both a pre-owned vehicle or a new one. What it comes down to, is what kind of vehicle you are looking for, what features you need, what your budget is, and how soon you need the car.
Speak to one of our sales advisors today and find out which option is best for you.
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