New or Used-Which Car is Right for You?

New or Used – Which Car is Right for You?

Purchasing a car is a big decision. Determining the make and model as well as the features is enough to overwhelm even the most savvy car buyers. Another important consideration when choosing the best vehicle for your needs is whether to purchase a new or used model. Here are some things to consider when making this important decision.

Should You Purchase a New Car?

• Select your features – Purchasing a new car allows you to pick exactly what you want including interior and exterior colors and other options.
• New car warranty – While you can buy a warranty for a pre-owned vehicle, new car warranties are included with the car and are typically more comprehensive.
• More safety features – Every year, car manufacturers develop technologies to improve car safety. A new car will typically have the latest innovations.
• Finance rates – New vehicles generally come with lower financing rates which could save you money in the long run. See what loan rates you can qualify for at Fitzsimons.
• Maintenance packages – Like new car warranties, maintenance packages are often included for a set amount of time or up to a certain mileage level. This could include oil changes, car washes and other general maintenance.

Should you Purchase a Used Car?

• Less expensive – In general when purchasing a used car, you can get more upgrades for a cheaper price tag.
• Skip the depreciation – According to Edmunds.com, the greatest level of depreciation is in the first year you own a new car.
• Cheaper insurance – When comparing apples to apples, used cars are generally cheaper to insure. Do your homework to get a car that is the best value with regard to auto insurance.
• Review and research – When purchasing a car, there are a lot of unknowns. This is especially true if you are buying the first model year.  Even if you do choose a second or third generation, there can be discrepancies between model years. Purchasing used allows you to do your research to find the most reliable car for your needs.