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New vs. Used. Which is for you?

New vs. Used. Which is for you?

Buying a new car versus a used car is different for everyone. It’s more than price or value or that new car smell. It’s what feels best for you.

New cars have obvious benefits, such as, they can be made to order – you can pick out whatever you want from number of doors to engine to color. And you are overjoyed that everything on the car is new : smell, no mileage and without scratches. With a new car comes the peace of mind that you have reliable transportation. If you are the type of person who likes to get the newest technology first, than you will want your car to have all the latest bells and whistles. But there is much more to a new car than fun technology and pretty paint. With good credit, you can purchase a new car with little or no down payment; financing is not as straightforward for used cars.

Safety is one of the main reasons that people buy new cars. Value is important too as new cars have higher fuel efficiency and lower emissions than older ones. Financially speaking, you have a lot of different financing options because financial institutions typically offer lower financing rate on new vehicles. Buying a new car is more convenient than buying a used one because you can find what you need online or the salesperson at the dealer can do all the legwork for you.

As expected, used cars are lower priced than new cars. Buying a used car is a way for a buyer to move up to a nicer model at a more affordable price. With a used car, you know the value of your car is the same in the dealer lot as it is in your driveway because depreciation is not a factor. Usually, there is even savings with lower insurance rates for used cars however, it’s important to keep in mind that used cars can be more expensive to maintain and repair. And unlike new cars, it can be harder to find the exact used car you want.

There is not one answer about new versus used cars. Besides big picture things like price and maintenance, there is also a place for vanity and gut feeling.  It’s finding the car that is right for you!

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