A fascination with new cars is understandable; still is it worth it if you compare its cost against the used one? You could save hundreds of thousands of dollars in your lifetime by tweaking your selection a bit. Although if money is not a problem, there is no harm in spending that extra money for not just a feel-good factor but other advantages that come with it. You may wonder how to decide between the two, then. To alleviate your confusion, learn about the kind of benefits that you can enjoy with either choice as mentioned below.
Benefits of buying a used car
The resale value
You buy your favorite model after a wait time of 3 years. The car is not new, but it’s the same version you wanted to have. Now, the thing is, three years earlier the same model may have cost you thousands of dollars extra for just being fresh, but if you buy its used version, you can make a considerable saving. Besides, as you may be aware, every car has a resale value. The value of new vehicles often drops to its half price for which you bought it. But, in the case of old cars, the depreciation is not steep. For example, you buy a used model for $15,000, and three years down the line, you can expect to get $10,000 from its sale.
The insurance cost
You can get used car insurance for a lower price, and if you let go of components like comprehensive and collision coverage, you would need to spend even less.
The registration cost
With every year, the cost of registration of old car only declines.
Benefits of buying a new car
The initial hassle is less in purchasing a new car compared to the old one because you don’t have to worry about the condition of its parts.
The offers and rebates
When new model releases in the market, dealers as well as manufacturers try to attract their customers with new offer prices, which primarily helps a buyer to bring down his purchasing cost.
The modern technology
Most of the new launches feature advanced safety and comfort technologies for customers. If you wait for the used model, you won’t be able to enjoy them immediately.
The reliability factor
No doubt the pre-owned cars have improved in terms of performance and appearance, but new vehicles are still unmatched in this regard. If anything happens to your new vehicle, you can repair it free of cost or comparatively for a nominal charge under the warranty period.
So, as you can see, there are upsides and downsides in both situations. What you can do is compare these factors with each other to analyze what is better for you. If you think saving money is more important, then go with the pre-owned ones; however, if you feel that the peace of mind is essential, then perhaps a new car is the right choice for you.
You can visit Larry Puckett Chevrolet in Prattville for assistance with this. They are one of the renowned dealers there.