Which is Better?
New car vs. used car? At first glance a used car seems to be the sensible choice. But if that’s true, why do some 17 million Americans splurge on a new vehicle each year? They can’t all be reckless spendthrifts.
The simple answer is, everyone’s circumstances are different. For some people a new car is the right choice. Others are better served buying a used car. How do you decide? Let’s examine new car vs. used car pros and cons.
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Although there is nothing like it, it’s not just about enjoying that new car smell. There are some sound reasons for choosing new rather than used.
1. Warranty. Most new cars come with at least a three year or 36,000 miles of bumper-to-bumper coverage and there’s usually a?powertrain?warranty stretching out five years or longer from the purchase date. You’ll still need to keep up with oil changes and tire rotations, but those are included with a lot of new car purchases any way.
2. Choice. When you buy new you can get the exact color, trim and equipment you want. There’s no need to compromise, which is what you usually have to do when buying a used car.
3. Condition. The new car is as clean inside and out as it ever will be. You’re not sitting among the remains of someone else’s takeout and there’s not a single scratch or chip anywhere.
4. Technology. New cars offer Bluetooth for hands-free calling along with Apple?CarPlay?and Android Auto. If?synching?your phone with your car is important, you definitely need a newer vehicle.
5. Safer. Newer cars meet tougher crash test standards and get more safety technology. Stability control is standard, rear view cameras are on almost all new vehicles, and features like blind spot detection and lane departure warning are popular choices.
6. Improved fuel-efficiency. Manufacturers are squeezing more and more power from every gallon of gas and new engines get better mileage.
If you’re still debating new car vs. used car, how about meeting halfway? My advice to get the most value for your money is to look for a car one to three years old. It should still be in good condition, need minimal maintenance, and may have some or most of the factory warranty left.
Best of all, you’ll save thousands while still getting many of the new car features and benefits. Remember to let someone else take the depreciation hit by enjoying a ride that’s nearly new.
After you’ve made your final decision on which type of vehicle to buy, take a look at either my , “New Car Buying Guide ” or “Used Car Buyer’s guide” for insider tips and secrets on how to buy a car and avoid dealer scams.
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