Once you’ve decided it’s time to invest in a different vehicle, you’ll start comparing everything from safety ratings to cargo storage capacity. However, there is one question that you will most likely struggle with more than others:
Should I buy a new or used car?
Unfortunately, a quick yes or no won’t suffice in answering that query. There are pros and cons to both sides in the new vs. used cars equation, so it’s important that you assess the situation fully.
Benefits of Buying a New Car
- That Unparalleled New Car Warranty
A new car comes with a warranty, which not only gives you peace of mind, but can also potentially save you in your overall vehicle investment. Drive your vehicle off the lot in perfect condition and then utilize the warranty to maintain that vehicle quality – with no need to sift through a history report or to pay a mechanic for an inspection.
- You Can Get the Newest, Best Technology
From safety innovations to infotainment features, new cars shine in the technology category. If you’re someone who is willing to invest a little more to have the latest and greatest in innovation, a new car may be the way to go.
- Financing and Incentives Are Easier to Come By
Automakers often provide financial incentives for new models, making them far more economical than they seem at first blush. Lenders also offer lower rates on new car loans since the risk is lower and your collateral value is higher.
Buying a new car has plenty of merits, but when you’re thinking specifically about whether it is better to buy new or used for your situation, you should consider the alternative, too.
Advantages of Buying a Used Car
- Depreciation Is Much Slower
Most new cars depreciate about 20% as soon as you buy them; that rate slows considerably for used cars. As you contemplate if it is better to buy new or used, you should certainly do some hard math on depreciation and factor it into your decision.
- A Luxury Used Car Is More Attainable
When you’re asking, ‘is it better to buy a new or used car?’ What you’re asking in part is actually, ‘will I get more value out of buying a new or used car?’ Considering what we mentioned above about depreciation, a premium used car in excellent condition may be well within your budget whereas a brand-new car from the same luxury company may not.
- Insurance Is Less Expensive
A car with the lower value is simply less expensive to insure, which means that your rates are automatically lower when you buy used rather, than new. Your registration fees will be lower as well, since this cost falls each year as the car ages.
Choose the Right Car in The New vs. Used Debate
The bottom line is that there’s no right or wrong answer to the question, ‘should I buy a new or used car?’ but there’s bound to be one right answer for you. Try to evaluate the issue from both sides, and land on an educated decision.
With a beautiful lineup of both new and used cars, INFINITI OF DENVER will be here to help through our ongoing specials and top-tier financing department once you’ve weighed the pros and cons of this decision. Whether it’s new or used, we want to watch you drive away in a luxury INFINITI at the best possible price.