Is it Better to Buy a New or Used Car?

Are you in the market for a car to use on your Springfield Township commute, but wondering if it might make more financial sense to purchase a pre-owned car instead of a new one? Is it better to buy a new or used car? We want you to make informed decisions, so we’ve put together the new vs. used car comparison below. While buying used does have its advantages, you may be surprised to learn that it is not always the most economical choice.

New vs. Used Car – The Pros and Cons of Both

Who doesn’t like a new car smell or driving off a lot, knowing you’re the first to own your automobile? But what if you’re looking to save some money? Is it better to buy a new or used car in that case? Some Union County car shoppers have decided after crunching the numbers that buying new isn’t always the most budget-friendly choice. That depends on your personal circumstances, of course, so read the new vs. used car comparison below to help you determine which is better for you:

New Cars – The Pros

• Interest rates – Loans on used cars sometimes have higher interest rates than those on new cars. 
• Repairs – Newer cars normally need fewer repairs than used cars and are covered under a warranty.
• Build the car you want – You can order a new car with the specific combination of features and options that you want. In fact, we make it easy with our Toyota configurator.

New Cars – The Cons

• Depreciation – New cars lose their value much more quickly than used cars, and they start depreciating as soon as you drive them off the lot. You’re far less likely to find yourself owing more on the car than what it’s worth if you bought it used.
• Higher Cost – The sticker price, down payment, and monthly payment will all be higher on a new vs. a used car.

Used Cars – The Pros

• Upfront cost – Used cars usually have a much lower purchase price than their new counterparts.
• Depreciation – Used cars don’t depreciate nearly as fast as new cars
• Wider selection – You’ll typically find a much wider variety of used cars on a dealership’s lot, including different brands and models.

Used Cars – The Cons

• Maintenance cost – Used cars sometimes incur more repairs and cost more to keep running on our Bridgewater roads.
• Warranty coverage – Used cars usually aren’t covered by warranty unless they’re certified pre-owned. We offer warranties on used cars, however.
• Interest rates – Used cars sometimes incur higher interest rates on loans.

Come See the New and Used Cars at Springfield Acura of Springfield Township

So, which is better suited for budget and needs, a new or used car? We have a wide selection of both on our lot, and would be happy to help you drive home in the automobile of your choice. And, if you found this tip to be helpful, check out our other car buying tips. We’re just down the road from Staten Island. So, drop by or contact us today.