Hello dear car buyer! Today, we are going to tackle one of the most pressing questions I frequently hear at the dealership: "With higher than normal interest rates, why should I buy a new car instead of a used one?" I completely understand where you're coming from, I've equipped myself with knowledge to help you make an informed decision. Let's dive into this topic!
1. Warranty and Peace of Mind
One of the most substantial benefits of buying a new vehicle is the manufacturer's warranty. It means for a certain period, usually three to five years or more, any defects or issues will be addressed without any cost to you. A used car might come with a limited warranty, or sometimes, none at all. So, with a new vehicle, you're purchasing peace of mind. Warranty provides you with a fixed monthly payment buying used with no warranty causes you to have a variable payment . Example you sign up for 400 payment on used vehicle, then have a problem that cost you 3,000 to fix , 3,000.00 divided by 12 months = 250 a month now your 400. a month car payment really cost you 650.00 a month for that year . Who knows how much it's going to cost you the following year. You would have saved money buying the new vehicle for 450, 500 even 600 a month and have piece of mind knowing that was your true payment.
2. State-of-the-art Technology
Automakers are in a never-ending race to outdo each other with new tech features. From advanced safety systems to efficient fuel technology and infotainment features, a new car is bound to have the latest and most advanced options. Used cars, depending on their age, might lack these modern features.
3. Finance Programs and Incentives
Here's a little secret – manufacturers often provide special finance programs or incentives for new car purchases. As low as 0% on some vehicles and many with 1.9%, 2.9%and 3.9%. These might include cash rebates, lower interest rates, or other attractive offers. So, even if the general interest rates are high, there's a chance you might qualify for these special programs, making the new car purchase more feasible.
4. Knowing the History
With a new car, you're the first owner. There's no history of accidents, no wear and tear, no previous drivers. You control the maintenance from day one. With used cars, even with a detailed history report, there's always a degree of uncertainty.
5. Better Fuel Efficiency and Lower Emissions
Over the years, vehicles have been designed to be more fuel-efficient and eco-friendly. New cars typically have better miles per gallon ratings than older models. Plus, they often come with lower emissions, which is great for the environment and might even qualify you for tax benefits.
6. Customization
Dreaming of a particular color, interior, or feature? With a new car, you get to choose and customize based on your preferences. With used vehicles, you're restricted to what's available in the market.
7. Potential Resale Value
If you plan to sell or trade your vehicle within a few years, a newer model might hold its value better than a car that's already several years old when you purchase it. If everything is the same . Year make, model, miles , options there is typically a difference of 3,500 to 4,500 just to upgrade 1 year . With used vehicles bringing a premium there has never been a better time to get into a brand new vehicle.
Closing Thoughts
The decision between buying a new or used car is deeply personal and based on various factors, including financial situation, needs, and priorities. However, with higher than normal interest rates in play, it's essential to consider the overall value and benefits of what you're purchasing. Remember, a car isn't just a mode of transportation; it's an investment in your comfort, safety, and lifestyle.
Come down to Don Franklin Chevy Buick GMC, and let's discuss your options. Whether you decide on new or used, I am here to guide you every step of the way! Call me today!
Jason Coston
Sales Manager
(606) 303-1272
Don Franklin Chevrolet Buick GMC
345 S Hwy 27 Somerset, KY 42501
