Should I Buy A Used or New Vehicle?

Some people will only buy new cars because they love that new car smell, and others will only buy used because they insist it's always the cheapest option. But the reality is that everyone's situation is different, and there are many good reasons for buying either a new or a used car or truck-it depends on what your needs are and what you're looking for.

To help you decide which is right for you, here are some of the pros and cons of each.

When Buying a New Car Makes Sense

That new car is pretty sweet, but many people buy new because of the extra piece of mind that comes with knowing you're less likely to be spending money on maintenance (at least in the short term).

  • Newer cars are made better: They are often higher quality and will last longer; as technology improves, so do our cars.
  • You can customize and add the extras you want: You have more options for upgrading and tricking out your new ride.
  • There are more financing options and incentives to buy: Dealerships often offer specials, deals, and incentives for new cars that you can't find with used cars.
  • More attractive warranty options: Often bumper to bumper and for the lifetime of the car. For example, learn more about Ed Kenley Ford's Pro Certified Lifetime Warranty (available for all our our new cars and trucks, and many of our used ones, too).

Drawbacks to Buying New

You can probably safely say that if money were never an option, you'd always buy new. In a struggling economy, more and more people are looking to save money by going with used cars instead of new, and there's a huge reason why-Depreciation.

Most new cars lose around 30% of their value the second they are driven off the lot. This can easily add up to thousands of dollars.

For many people, the pros of buying new outweigh the extra cost you absorb when a new car takes that initial dip in depreciation. An especially sweet deal on a new car may even close the gap completely (but it will most likely require doing your homework and some hard negotiating).

When Buying a Used Car Makes Sense

A used car could potentially give you as much joy as a new one, and at a much lower price:

  • Used is almost always cheaper: Even a used car that's only a year off the lot will be significantly cheaper than a brand new car-thanks to depreciation.
  • Used cars are more reliable than ever: Pre-owned certification and vehicle history reports are making buying used a safer bet.
  • Warranties often extend to second owners: If a car has low miles and isn't too old, you may be able to enjoy the benefits of the original warranty.

Drawbacks to Buying Used

There are so many options for buying a used car, but one thing's for certain-buying used is inherently risky. Buying from a licensed dealership will lower that risk, since it will have gone through a rigorous inspection and will have a vehicle history report.

Besides risk, the other main drawback to buying used is the cost of maintenance and repair. Used cars typically require more trips to the repair shop, due to their age. If you're willing to put in the time and money necessary to keeping a used car running for a long time, then you can most likely find the used vehicle that is right for you.

Ultimately, It Depends on Your Individual Situation

Buying a car is a big financial decision, and you should consider all angles when deciding whether to buy used or new.

At Ed Kenley Ford in Layton, UT, you can compare our complete inventory of new and used cars and trucks online. Don't forget to schedule a test drive-call 888-480-2945 today!

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