The arguments for choosing new over used is that the new vehicle offers greater selection and control of the features, a better warranty, and a car that will potentially last well beyond the financing period and the one factor most people consider when choosing new over used; buying a used car may mean buying someone else's problems.
However, there are some great reasons for buying used also. In fact nearly every point for buying new has a counter point.
Point – New Cars Offer Greater Selection of Makes, Models, and Features
Counter Point – Wait just a minute... Isn’t it true that every new car is used as soon as it leaves the lot? Then logic would follow that the selection is as great, albeit not as easy to locate. But when you factor in the cost savings of buying used, it can worth the time to patiently search for the used car of your dreams. Besides, if you are willing to give on color or some features you may find even greater savings.
Point – New Cars May Offer a Longer Relationship
Counter Point – Okay, while it is true pre-owned vehicles have less years in front of them, they still have a greater life expectancy than used. According to J.D. Power's 2010 U.S. Vehicle Dependability StudySM used car reliability has been on the rise for sometime. In addition, the lower cost of ownership offsets much of the new car appeal.
Point – New Cars Offer Free Factory Warranties
Counter Point – Many pre-owned vehicles have remaining factory warranties. And, if the previous owner purchased extended warranties, you may have the option to transfer the coverage for relatively little cost.
Many Dealerships offer “Certified Used Vehicles,” which means you have the option to purchase service contracts or extended warranties through the dealership. But, be very careful when considering this deals, many are not as great as they appear.
Point – Buying Someone Else’s Problems
Counter Point – While it is true that you are inheriting someone else’s problems, you may also be reaping the rewards of previous repairs. For example, a brand new model comes out and within months there are several technical directives or recalls. These are items the previous owner has likely already fixed and in some cases these issues automatically extend the warranty of the replaced items. Any dealership’s service department can run a vehicle history to tell you what maintenance has been completed and if all the pertinent technical directives have been addressed.
There are equally good reasons to buy either used or new vehicles; depending on your budget, situational needs, and planned usage, a used vehicle may be your best option. But either way you go, be sure to take another person with you when car shopping. Many of us get far too excited in the car show room. This never ends well. Having an advisor along to be your check and balance, to ask the questions you may forget in the heat of the moment can save you from yourself.