A Fork in the Road: Weighing New vs. Used Cars

Consumers face a host of choices and decisions when shopping for a vehicle, and perhaps the largest one is if you want to buy it new or used. Each option has significant advantages and drawbacks. For example, buying a used car can save you thousands in upfront costs but may have more maintenance issues, while new cars are pristine but have much higher depreciation costs.

We’ve compiled a list of reasons to buy your next car new or used, so you can make the best decision for the long road ahead. Take a look:

New Vehicle

Included factory warranty
Less money spent on significant repairs in the first few years
Simple shopping process
Less need to evaluate its condition before buying
More incentives and low-interest financing options
Ability to purchase the exact make, model, color, and year desired
Access to advanced technological features
Often better gas mileage and lower emissions

Used Vehicle

Lower depreciation costs
Lower initial purchase price
Longer modern vehicle lifespans for increased usability
Typically reduced car insurance rates
Better decision-making with reviews on how the car has been performing
Wider range of vehicle options based on affordability, including luxury cars
Less stress and pressure to keep a new car pristine

Whether you decide to purchase your next car new or used, it is important to shop around and negotiate the best deal. Use our financing calculator to determine what you can afford to pay for your next vehicle, then visit our website or give us a call at 800-225-2555 to get started.

*All loans are subject to credit approval.

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A Fork in the Road: Weighing New vs. Used Cars

New Vehicle

Used Vehicle