Is it Better to Buy a New or Used Car?

2022 Buick Envision
 

Looking to get a new ride for your Troy commute? Many ask themselves, “Is it better to buy a new or used car?”. There’s no one-size-fits-all answer to this question; it depends on your Dayton lifestyle and what you’re looking for from your next vehicle. Dave Arbogast Buick GMC lists the pros and cons of buying a new car or used car below!

 

 

Pros and Cons of Buying a New Car or Used Car

New Car Pros

  • Better Fuel Economy: If you’re curious to get the best fuel economy on Springfield roads, you’re going to find more attractive numbers with new vehicles. Automotive manufacturers are constantly trying to improve fuel economy with new turbocharged motors. 
  • The Latest Technology: Every year, new technology hits the market. If you’re looking for the latest in connectivity, safety, and more, you may want to consider a new vehicle. 
  • Warranty Coverage: Almost every new vehicle comes with powertrain and bumper-to-bumper warranties, covering most of the vehicle’s components for a designated number of years. 

New Car Cons 

  • More Costly: It’s no secret that new cars are more expensive than used cars, and you’ll pay full taxes for them. Another expense to consider repairs: while the warranty coverage on your vehicle can last a while, those state-of-the-art parts and technology are costly to maintain and repair if you plan on keeping your vehicle for a long time.

Used Car Pros 

  • Cost-Effective: You will save money every step of the way with a used vehicle, from the initial price tag to taxes and even warranty coverage.
  • Depreciation Takes Longer: From the second it hits the streets, a new vehicle begins to depreciate. Most of the depreciation on a car’s value comes within the first few years of its life. With a used car, the initial spike in depreciation has already occurred, and it will lose value more slowly. 
  • Less Like to Have Negative Equity: When you owe more on your car loan than your car is worth, you go “upside down” on the loan and end up with negative equity. This turns into a problem with big loans, or when the car is damaged, or even lost. A smaller car loan on a used vehicle is less likely to result in negative equity. 

Used Car Cons 

  • Higher Interest Rates: The price of a used vehicle will be smaller, but the loan interest rates are higher on used cars.

Why Shop with Dave Arbogast Buick GMC?

Those are the basic pros and cons of buying a new car or used car near Sidney. One of the most important factors in making this new vs. used car decision is finding a dealership that has options. At Dave Arbogast Buick GMC, we’ve got new and used vehicles, in addition to other great resources, like: 

Test Drive a Car with Dave Arbogast Buick GMC Today! 

So, in your situation, is it better to buy a new or used car? If you want to compare a new vs. used car in person, Dave Arbogast Buick GMC has an extensive selection that will help you decide which is best for you. Contact us or call us at (855) 746-5306 to learn more about what we have to offer you!

 

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Dave Arbogast Buick GMC 39.98677, -84.20253.