When purchasing a vehicle it can be difficult to decide between investing in a used car or a brand-new model. Each has alluring advantages that line up with a budget or needs. Here are four factors to keep in mind before you start test-driving.
How to Choose Between a Used & New Car
1. Insurance Costs
People are often surprised to learn that newer car models tend to be more expensive to insure than older vehicles. But they feature more advanced technology, which can be costly to replace, and most lenders require that they’re insured with a full policy including comprehensive and collision coverage. Pick several used car models and new car models and run them by your insurance agent to get an estimate of what coverage would cost for each option. Factor these estimates into your total vehicle budget for the most accurate assessment. It’s possible you’ll get more bang for your buck with a pre-owned car.
Used cars will require more maintenance than new ones because they’ve already been driven. If a new car is stretching your budget, consider finding a balance with a low-mileage used vehicle. You’ll save money right away and won’t have to immediately start replacing parts. Buying a new car, on the other hand, gives you peace of mind with manufacturer warranties.
Purchasing a new vehicle means having access to the latest amenities. From efficient fuel use to adaptive cruise control and rearview cameras, these bonuses may play a role in your decision. However, you may be able to find used models that were produced in the last five years that offer similar devices, so be sure to shop around until your list of must-haves has everything checked off.
Are you looking to purchase a smaller or larger vehicle? When buying used cars, you can use a budget drawn up for a smaller new car to purchase a larger used option because the price has already been knocked down. That means saving more money on the smaller car or getting the extra space and horsepower for less.
Those in search for new and used cars should go to McGraw-Webb Chevrolet Inc. in Wilcox, AL, to browse their large inventory. The 25-year-old family company features SUVs, cars, sedans, and trucks so you’re sure to find a vehicle that offers the price point and amenities you want. Call (334) 682-4258 or visit the website for information on their auto maintenance department, including tire rotations, oil changes, and battery replacements to keep your vehicle in top shape.