Deciding Between A New And Used Car Johnson City Toyota

Deciding Between a New and Used Car

An average car buyer has to decide between a lot of factors for buying the best car. This decision can be exciting and worrisome at the same time. Buying a car is a significant investment. Hence, you should lay your trust in an option that suits your criteria and budget. Also, there are desired features that you want in your vehicle. On these parameters, you need to judge the new models as well as used cars and find your perfect dream machine. Each of these options offer a lot of benefits but, they have some drawbacks as well. It requires careful consideration to make the right decision for you.

Perks of a New Car:

A new car is decked out with a lot of exciting features that suit the diversified driving needs of buyers. It comes with the manufacturer’s warranty to ensure complete peace of your mind during the initial years of purchase. The cost of ownership is low and you need not worry about costly repairs. To make it more lucrative, some dealers provide an additional warranty that can be extended up to five years.

The latest technologies and advanced safety features of a new car are designed to offer seamless driving experiences with complete safety. The looks are stunning and they can be customized in terms of paint color and additional gadgets. Also, you get multiple financing options at comparatively low interest rates on the purchase of a brand-new automobile.

The Downsides of a New Car:

Ask any expert about the downsides of buying a new car and you will find a unanimous approach pointing towards the depreciation. The moment you sign on the dotted line and drive your car off the lot, it loses a significant percentage of its value on account of depreciation. In fact, a new car can accumulate depreciation up to 30% by the end of the first year of your ownership. Apart from this, you have to deal with a higher sales tax and high registration fees tied to the cost of your car. Also, the insurance is costlier on a brand-new model.

The Perks of a Used Car:

Here again, the depreciation plays a vital role. In the case of a used car, you do not anchor the initial depreciation and this cost is already factored into the buying price of the vehicle. Even if buying a newer pre-owned car, the amount of depreciation is nearly 20% lower when compared to its cost if you’d bought the same vehicle new. This affordability and significant cost saving of a used car are the biggest perks of buying it.

Also, you can make a more informed decision by selecting a car according to its performance ratings and reviews posted by current users. They also have lower insurance cost.

The Downsides of a Used Car:

The unpredictability of performance and maintenance issues of used vehicles are the major cause of concern for buyers. The cost of ownership can be increased due to the unforeseen repair and maintenance expenses incurred on this vehicle. However, there is a respite in the form of certified pre-owned cars sold by dealerships with a lot of add-on services and perks.

Consider these factors and make an informed decision as per your requirements.