If you’re in the market to purchase a vehicle, you’re probably wondering whether you should buy a new or used car? There are several factors to consider to make the best purchase for your needs. Whether or not you need car financing will influence your options. To help you decide, take a look at the helpful guide below.
Buying a New or Used Car
What are the Advantages of New & Used Cars?
Buying a new vehicle is a wonderful experience for anyone that loves the new car smell. New cars also come with a warranty, so if there are any maintenance issues, they will be covered by the dealer. New cars also have the latest technology to give you better gas mileage and make your ride more comfortable. If there is a new car that you have your eyes on, car financing will afford you the opportunity to drive it off the lot with a minimal down payment.
Used cars have the advantage of being priced lower than new cars. You can purchase a well-maintained used car that is under five years old and enjoy the luxury of driving a like-new vehicle without the large monthly payments. It’s also easier to save for a used car and pay cash, but there are also financing options available. Insurance rates are typically lower on used cars, so you will save money on that end, too.
What Are the Disadvantages of New & Used Cars?
A new car depreciates in value as soon as it’s driven off the lot. If you’re trying to save money, it doesn’t make a lot of financial sense to buy a new car because you lose several thousands of dollars in value within the first three years. Additionally, if you’re buying a brand new model, the manufacturing kinks may not have been worked out yet, and there could be a recall that you’ll have to deal with.
Buying a used car will require you to do more homework in order to find the best vehicle. Older cars tend to need more repairs after they’ve reached the 100,000-mile mark, so you should set aside money each month for eventual repair costs. Also, when you’re car shopping, you may need to be more flexible in what color or model you want so you can find a car that meets your needs.
Deciding whether to buy a new or used car is a personal choice. The professionals at American Motors of Jackson in Tennessee offer hassle-free car sales to help you find the perfect vehicle for your lifestyle. The used car dealership features the top makes and models whether you want a used SUV, car, or truck. You can stop by the dealership, or call (731) 554-5000 to learn more about their car financing options. Visit them online to peruse their inventory.