Buying a car is a big decision. So, when it comes to the question as to whether to pick new or pre-owned, it’s certainly important to consider all of the factors. On one hand, you could save thousands of dollars by buying an affordable used vehicle; on the other, you can get some needed peace of mind by knowing that your new car has a lot of life to live. But which one is best for you? Here are the benefits and downsides of buying new vs. used cars.
Why Buy a New Car
1. Everything is Working as Intended
It’s nice to have new things, and along with that comes the knowledge that your car is in tip-top shape. Buying a new car means that you know everything that’s happened to it since it left the dealership, so there’s no questioning its maintenance record or mileage. Keeping it running is just a matter of following the recommended auto service intervals.
2. There are No Hidden Problems
With a used car purchased from a third-party seller, you may not be given an accurate depiction of the car’s condition. It may run well when you pick it up, but it could be just a week away from needing a new water pump—or worse. When you choose a new car, there are no potentially nasty secrets waiting for you.
3. New Cars Have Newer Features
We’re not just talking about Bluetooth either, even if that is on your checklist. As you know, vehicles are designed to meet a higher standard each year, so the newer the vehicle model, the better. With a new SUV or car, you get fancy features like built-in navigation, larger touchscreens, dual-zone (or tri-zone) climate control, and many others. Furthermore, the latest models are equipped with the latest safety features, such as side airbags, anti-lock brakes, rearview cameras, lane departure warnings, and much more.
One of our favorite Chevy features is Teen Driver, which enables parents and guardians to monitor their new teenage drivers and set restrictions on car use. You can’t have an eye on them all the time, but you can sure try.
4. Easier Financing
When financing a car, lenders want to know exactly how much it’s worth before they put their stamp of approval on the paperwork. As it turns out, this makes new cars significantly easier to finance. This is because, with a new car, the price is already set and there are no hidden damages that could decrease its resale value. Even obvious wear and tear changes a used vehicle’s price, so it takes financing specialists and lenders longer to figure out the risk involved.
If you need help financing a new Chevy in Olathe, KS, we’re here for you! Simply apply for a Chevrolet loan and get pre-approved within seconds. Then, we’ll contact you to discuss your options and set up a test drive.
One of the biggest benefits of buying new is that you get a pristine warranty. So long as you keep your auto maintenance in order, warranties will protect your new car from devastating mechanical issues, keeping you on the road instead of trying to figure out how to pay the repair shop.
Why Buy a Used Car
1. Save Money
It goes without saying that used cars are going to cost less money to purchase, but just how much can be surprising. Keeping an eye out for a good used car deal can save thousands of dollars on a high-quality vehicle, so don’t be afraid to really look at each one. A few small scratches and a little wear and tear are to be expected, though, so go into the shopping phase with an open mind.
2. Certified Used Cars are Practically New
If you keep your eye out for a good late-model CPO car with only a few thousand miles on it, then you might just find yourself a great price. It’s no secret that pre-owned cars lose a lot of their value within the first 40,000 miles. However, most vehicles typically make it to 100,000 miles with little more than standard maintenance. This means that buying a slightly used car—like a certified Chevy—and trading it in every couple of years can save you some real money, while also allowing you to drive a car that’s only one to two years old.
3. Better Resale Value Compared to Purchase Price
The resale value will actually be less than that of a car you bought new, but because a used car is most likely past its biggest value depreciation, the resale value is going to be a lot closer to what you paid for the vehicle in the first place. So, while you shouldn’t expect to walk away making your money back during re-sale, you won’t be losing as much as you would with a new car.
Best yet, you can trade in your used car in exchange for another vehicle at your local dealership. At McCarthy Chevrolet Olathe, we offer top dollar for trade-ins as well as up to $500 bonus cash. Click here to see what your car is worth.
4. Cheaper Insurance & Registration
Seeing as a used car is cheaper, there is less value to insure. Because of this, you can save a lot on your auto insurance premiums, which add up over a couple of years. It’s also important to note that, in many states, older vehicles don’t require as much registration fees as brand new ones. To check your Kansas vehicle registration costs, refer to the DMV website.
5. Cheaper Repairs
Though you need to be careful to check for maintenance records before buying, it’s inevitable that your used car will need to be repaired down the line. That’s where the savings on car parts come into play. Used cars have a unique advantage here as their OEM parts cost less over time.
When you buy a used vehicle or certified pre-owned Chevy at our Olathe dealership, you won’t have to worry about false accident and vehicle history reports. All of our vehicles come with free CARFAX documents and maintenance records.
It takes a savvy person to accurately determine whether to buy new or used, but with these tips, you’re sure to have the edge needed to make an educated purchase. If you still have questions about whether to finance a new car or used vehicle, feel free to contact the experts at McCarthy Chevrolet in Olathe, KS. Call our sales team at (913) 754-7208 or swing by our Olathe car dealership at 675 N Rawhide Road. We’d be happy to help you find the right vehicle, whether it’s a new Chevrolet Silverado or pre-owned SUV!