Are you in the market for a new or used vehicle? Are you finding it to be a tough decision deciding if you should go with a brand new vehicle or a previously owned vehicle? This is one of the most common debates when it comes to car buying. There is no one right answer, because the best type of vehicle depends on your driving needs. It depends on your budget, your ability to complete required maintenance, and the type of vehicle that you are looking for. Consider these pros and cons of the new car versus used car debate.
Your buying budget and financial situation
Before you make the decision to purchase any vehicle, used or new, you want to understand your financial situation better. What price of vehicle can you realistically afford? What amount of monthly payment can you afford? Evaluating this information after you visit the auto dealer and have a vehicle in mind can affect your decision. It is best to set a buying limit or monthly payment limit, before shopping for used cars for sale or new vehicles. Many car dealerships allow you to submit a loan application before you ever step foot in the dealership.
You also want to consider your reselling needs. Do you plan on driving your vehicle for a couple of years and then selling it to recoup some of the costs? If you purchase a new vehicle, you will not get back as much as you paid. A lot of the value of the vehicle is lost the minute you drive it off of the lot. Used cars, however, tend to hold their value much better. Used cars for sale only lose value as the more miles and damage is added to the vehicle.
Your driving habits
Do you tend to push the gas hard and make quick stops? Do you enjoy having the ability to go around larger vehicles? Do you regularly tow items in the back of your truck? These driving habits will all affect your decision between a new versus used vehicle. Used cars for sale do not always give you the option of choosing specific amenities. You may have to choose out of the inventory on the used cars for sale lot. However if these extras are not important to you, you will find that used vehicles do come with some options, you just don?t always get the opportunity to choose which ones.
Miles per gallon ratings
Because environmentally friendly and energy saving vehicles were only recently introduced, you will find that it is harder to find used models. If high efficiency ratings and extremely low gas outputs are important to you, you may have to go with a newer vehicle. The Prius Eco, for example, gets up to 58 mpg in the city and 53 mpg on the highway. This does not mean that you cannot find any used vehicles that are somewhat efficient. The Toyota Prius, not quite as efficient as the Prius Eco, was introduced nearly 20 years ago and remains the world?s bestselling, mass market, hybrid vehicle.
Upkeep needs
Older vehicles have more miles. This usually means that they require more upkeep and have a higher chance of breaking down. One of the most common reasons for purchasing a new vehicle is to have something that is reliable and dependable. However, many dealerships today are offering certified pre owned vehicles if they are under 5 years old. In 2016, certified pre owned sales reached a record 2.6 million units. Certified pre owned vehicles are a great way to take advantage of discounted used vehicles, without the risk.
One of the biggest decisions that you will make when shopping for a new vehicle is whether you will purchase something new or used. Both types of vehicle have their pros and cons. It is best to consider your individual driving habits and needs before making this decision. Also keep in mind your financial situation for the best decision.