Both new and used cars have their advantages and drawbacks. A new car is obviously more expensive than a used car but that isn’t all that matters. While the benefits and drawbacks may be different, buying new or used are both viable in the modern automotive market.
Here at Wiesner Huntsville, we offer you plenty of options for both new and pre-owned vehicles. However, many customers think that pre-owned or used vehicles are always second-rate vehicles only to be purchased when you can’t afford to get a new vehicle. That’s not necessarily true—and there are legitimate reasons to buy used vehicles, no matter your circumstances.
New cars come stocked with a full manufacturer-backed warranty and that’s a huge deal for many buyers. As no repairs come out of their pocket, drivers tend to prefer new cars largely for this reason.
Since technology is always advancing, new cars see the latest in infotainment and safety technology. As a result, they’re generally safer and many of the advanced technologies are available on less expensive vehicles as well.
New cars also tend to be more fuel efficient than their used car counterparts. Largely driven by government regulations, increasing fuel economy has become the norm among the modern automotive market. The latest diesel models are clean as can be and the hybrid segment as a whole has seen enormous growth.
Banks often offer lower interest rates when financing a new car since their worth more at the time. While they may require a larger down payment, financing offers tend to favor new cars over used models.
Unlike buying a new car, used cars come in hundreds and thousands of makes, models, trims, years, and packages. That leaves an incredibly wide selection to choose from.
The price difference in used cars comes largely from depreciation. After a new car leaves the lot under new ownership, it loses up to 40% of its value. That’s a hefty chunk. A used car, on the other hand, doesn’t undergo depreciation, as it already did when it was first driven off the lot as a new car.
Since a used car obviously costs less than a new car, used cars often come with lower insurance rates since they are easier to replace if they’re destroyed.
Many used cars are backed by the manufacturer or are entered into Certified Pre-Owned programs. As a result, they might come with limited warranties that provide peace of mind in the used car.
Used vehicles can often offer you a better ratio of quality to price. In other words, a used car that is a couple years old will come at a much lower price than the new model of the same car. Plus, when you drive a new car off the lot, it loses up to half its value. However, when you buy a used vehicle, it retains most of its value because that original depreciation has already occurred. So, in essence, you’re getting a great used vehicle with almost all the same value and features as a new vehicle for half the price.
Plus, many of our used cars have actually gone through a Certified Pre-Owned program to test to make sure they are quality, valuable cars. These CPO programs are rigorous and intense, and any car that passes such a program is thus assured of being a valuable car for anyone looking for a bargain on a used car. When you buy a used car, you also have a longer history to rely on—for example, a car’s reputation is more firmly established after a couple years, so you have more reviews and opinions to rely upon when purchasing your used or CPO car.
Check out our inventory of New and Used Cars today here at Wiesner Huntsville!