Advantages And Disadvantages Of Buying A New Car
If you’re thinking about buying a car or are already in the process of shopping for one, you’ve likely encountered a variety of options already. SUV, sedan, truck. Hybrid vs. electric. Luxury or basic. But there’s one more question that should be at the top of your list while shopping for a vehicle—new or used?
Depending on your needs, wants, and budget, there are plenty of advantages and disadvantages to buying a new car (and we’re not just talking about the new car smell). If you’re in the market for a new (or used) vehicle, make sure to consider both options before making your purchase. To help you make a more informed buying decision, we’re discussing the advantages and disadvantages of buying a new car straight from the dealership’s inventory.
Advantages of buying a new car
Here are a few of the advantages you might expect when you opt to purchase a new vehicle.
Warranty
Many car dealerships will offer a warranty special when you buy a new vehicle with them. This could help cover repairs in the first few months of ownership and protect you in the event of an accident. But keep in mind, there are plenty of other options to warranty your vehicle, even if you buy used or from a private seller.
On the other hand, buying a new vehicle from a local dealer can also mean you get access to convenient and specialized services. If you buy from a certified Audi inventory near Seattle, for example, you will likely be able to get your car serviced at other Audi dealers or partners in the greater Washington State area. This kind of coverage can give you peace of mind if you’re out of town and you need to get a quick and reliable repair.
Low maintenance
When you buy a new vehicle, odds are you won’t encounter many (if any) mechanical issues in the first year or two of ownership.
Dealership financing
Many dealerships will offer financing specials on new cars if you buy directly from them. This could potentially help you save on interest rates and other auto loan fees—just be sure to do some comparison shopping to find the best auto loan option for you.
Latest technology
One of the greatest advantages of buying a new car is the ability to experience all of the latest safety and entertainment technologies the auto industry has to offer. If you’re a self-proclaimed techie or auto fanatic, this may be an indispensable positive to support your cause—but the reality is, you can still access these features when you buy a used vehicle. From luxury-grade audio outfits to customizable LCD displays, you can add on most vehicle technologies and electronics after purchasing. Keep this option in mind as you shop and compare new and used models.
Disadvantages of buying a new car
Now that we’ve discussed the advantages of buying a new vehicle let’s balance out our perspective and take a look at some of the disadvantages as well.
More expensive
This one is kind of a no-brainer. New cars are simply more expensive than used cars. They’re new, shiny, relevant, and coated in that irresistible new car smell. If you’re shopping on a budget and want to save a few bucks, a used car may be the better choice for you.
Depreciation in value
The moment you drive a new car off of the lot, it drops in value—sometimes as much as 20%. For many buyers, this depreciation rate translates to lost dollars for not much more in return. Always take the time to shop around to make sure you can sell your car at the best price possible.
Brand new models can change
When a brand new vehicle debuts, it is in somewhat of a testing phase. Yes, it’s been safety inspected and test-driven by experts, but oftentimes new vehicles can be updated or changed within their first few years on the market. This could make your new car outdated in a matter of months if you choose to buy the latest model.
Higher premiums for new models
When shopping for a vehicle, you’ll want to also consider how you will be insuring your vehicle. Many new vehicles will have higher premiums which could end up derailing your budget. The takeaway: keep in mind the total cost of the vehicle, whether you’re shopping for new or used inventory.
In Conclusion
There are many options and additions to consider when you’re shopping for a car, as well as numerous pros and cons. Make sure to take your budget into account when deciding whether to buy a new or a used model, and take your time to carefully choose a vehicle that suits your needs. You’ll most likely have to drive and pay for that car for a long time, and you don’t want to regret it a couple of months from now. Do some research, shop and compare multiple car dealers, follow the steps mentioned in this article, and you should be able to find the perfect car for you in no time. Visit Prestige Cars Blog to learn more car buying tips.
