Auto Loans for Everyone
in the Boston Area

Which Car Should You Buy – New or Used?

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on pinterest
Pinterest

A new or used car—which should you buy? If you are having a hard time deciding, read on. Found below are reasons for you to consider either of the two options.

Why Buy New

Clean history. You get the car with a clean slate. The vehicle has only been driven off the factory, transported to the dealership and taken around the showroom. You need not worry about funny smells, wear and tear, as well as past accidents.

With a clean history comes peace of mind. As a vehicle fresh off the line, the new car is expected to be in mint condition. In the event the new car you have purchased is a lemon, you can sue. Bostonian car buyers are protected by the Massachusetts Lemon Law, particularly the New and Leased Car Lemon Law.

Less maintenance costs. Because the vehicle hasn’t been used and abused, naturally you will spend less for maintenance. After all, you will get the car in great condition. It is possible that you will not need new tires, brakes or battery until after you have owned the vehicle for a couple of years. In the case of routine maintenance, some manufacturers are already covering these. Before you sign the dotted line, determine whether or not the auto maker will help you save money even on oil changes and tuneups.

Warranty. Used cars can also have warranties, but the brand new variety have the best ones.

Warranty coverage for new vehicles is usually three years long, but some warranties are longer. The length of coverage depends on the kind of warranty in question. For instance, basic warranties—better known as bumper-to-bumper—can last from three years (or 36,000 miles) to five years (or 60,000 miles). Then there is the powertrain warranty, which can last for 10 years (or 100,000 miles).

Safety and energy efficiency. New cars are safer thanks to stricter vehicle safety laws. Car manufacturers now abide by these laws when creating their new models. Some used cars have been made before these laws were modified and/or implemented, and may not have the important features that help guarantee safety.

New cars are also more energy efficient for the same reason. Laws are compelling auto makers to create more fuel efficient vehicles. If you want to buy a car that has lower emissions, that wouldn’t be much of a problem at present. You have a good enough selection to choose from.

Customization. When you opt for a new car, you can have it any way you want. You can call the shots on colors and features, among others. The dealer can help you find a vehicle just as you like it.

Why Buy Used

Lower purchase price. It is no secret that used vehicles are cheaper than new ones. If you need a car but don’t have a lot of money to spend, buying used is most ideal. However, don’t assume all used cars are less expensive than the brand new variety. Some can be more pricey, so do the calculations before you make a purchase.

Less insurance. With a used car, you can save not only on its purchase price but also insurance. It takes less money to insure a pre-owned vehicle. Make sure to do comparison shopping to save even more money on auto insurance.

Less depreciation. The reason cars aren’t considered as investments is because they depreciate quickly. Depreciation is a major problem specifically for new vehicles. According to Edmunds.com, a new car can lose as much as 11 percent of its value once it leaves the dealer’s lot. After five years, a car can be worth only 37 percent of its purchase price. When you buy a used car, there is no immediate depreciation to stress over.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on pinterest
Pinterest
Check to see if we finance your area. Enter your information below!
 Pre-Approval Calculator 
 
Good Credit (725+)
Fair Credit (630+)
Poor Credit (575+)
Bad Credit (525+)
No Credit
Monthly Income $
Housing Cost $
Credit Cards $
 
 
 
New Articles
100% safe and secure
Free Credit Checker