New vs Used Car in 2021

If a potential car buyer were asked if they wanted a new or a used car, chances are they won’t be able to give a simple answer. The new car vs. used car pros and cons battle is omni-present. The car you choose will depend on your needs, budget and a host of other factors.

The decision to buy a brand new car is perhaps a simpler one. You have peace of mind when it comes to the condition of the car. You are also likely to get great deals or discount offers on new cars. Plus, with the latest technology innovations, you can rest assured that your new car will have some of these new technologies installed. New cars are also likely to have more safety and driver-assistance features.

However, a disadvantage of buying a new car is depreciation. With a new car, depreciation can range between 20 to 30% as soon as it’s out of the dealership. Taxes and the rate of insurance are also higher with a new car.

Whether you buy a new or an old or used car, the factors in decision making time remain the same – finance, expected usage of the car, make, model, brand, type and many more. As a car buyer who will spend thousands of dollars on a car, your decision must be weighed accordingly.

Buying an Old Car is a Sensible Choice

When you want to buy an old or used car, there are several factors to consider. But if your research is solid and you buy from the right place, buying an old car makes for a sensible choice. Here are some advantages you have –

First, once you decide on a make, model and brand, get your hands on the vehicle history report. This will tell you all you need to know about the car and is the first step in making the decision. And leverage services like Consumer Reports to know more about that brand, model or company. In today’s times, every bit of information in the automobile industry is easily accessible through the internet and you can use a variety of sources to find it.

Second, you will save money – on the price, loan amount, insurance and registration. While the interest rate on financing an old car is not less, the overall value of the car will work to your advantage.

Third, you can upgrade the make, model or brand. Imagine there is this car you always liked but the price is beyond your budget. Getting a used car of the same brand or model will perhaps suit your pocket.

Consider a Certified Pre-Owned Car

A great option when buying an old or used car is a Certified Pre-Owned (CPO) car. These cars are usually gently used, not very old or have less miles clocked on them. They are usually thoroughly inspected with the car manufacturer’s checklist, and are offered with warranties and other value additions like roadside assistance.

In addition, companies also tend to offer special low interest deals on CPO cars. So while they may be a little more expensive than a non-certified car, they are certainly cheaper than buying a new car. So the advantage of buying a CPO car is that you get the best of both worlds!

Drop by at the Spitzer CDJR of Homestead and talk to our experienced executives about getting a CPO car.