When it comes time to replace your vehicle or buy your first car, everyone is faced with a crossroads. Should you buy new or used? It’s the age-old question and we’re here to help you find the right answer.
Some people are afraid of getting taken advantage of when buying a used car. Private sellers and shady dealerships have been known to pull one over on unsuspecting buyers.
However, that doesn’t mean there aren’t pros and cons of buying a new car. In fact, there’s a long list on either side of the debate.
Let’s clear a few things up to help you make a decision. Keep reading for everything you need to know about buying a new car.
Pro – Brand New
One of the best and most obvious advantages of buying a new car is that you’re getting a brand new vehicle that hasn’t had any other owners. If you’re a neat/clean freak, this really helps alleviate fears about previous drivers:
- Smoking in the car
- Chewing fingernails or picking their nose
- Sitting in the seat all sweaty on the way home from the gym
- Animals riding in the car
- Eating in the car
- And other poor hygiene issues
More importantly, you don’t have to worry about any damages to the car. A brand new vehicle is perfect – aesthetically, mechanically, electronically, and so on.
Pro – Customized Packages
Another fun perk of buying a brand new vehicle is being able to customize every aspect of the car. You can choose different trim packages that come with specific features like:
- High-end interiors
- Better sound systems
- Amped up infotainment units
- Higher performance engines
- Custom exteriors
- Better rims
- Advanced driver and comfort features
- And more
This is one of the most important distinctions in the pros and cons of buying a new car. When you buy used, what you see is what you get.
Pro – Warranties
Buying a new car means investing in a product that comes with a manufacturer’s warranty. In most cases, new cars come with a bumper to bumper warranty of 36 months or 36,000 miles and a power train warranty of 60 months or 60,000 miles.
However, when buying a new car, you can also opt for extended warranties, maintenance warranty plans, emission warranties, limited lifetime parts warranties, and more.
Finally, many new cars also come with extra perks, such as roadside assistance, satellite radio, etc.
Pro – Simplicity
When it comes to the pros and cons of buying a new car, an important pro to consider is simplicity. When buying a brand new vehicle, all you have to decide is whether or not you can afford the car and whether or not you like it. Beyond that, there’s nothing to it.
When buying used, on the other hand, there are several things you need to consider:
- Is the seller reputable or trustworthy?
- Can you get your hands on the vehicle history report?
- Can you take the car to a trusted mechanic to look it over?
While these issues aren’t a huge hassle, they certainly complicate the car-buying process.
Pro – New Technology
When buying brand new, you’re guaranteed to have the latest technology and features the manufacturer has to offer. It will have the newest infotainment unit with Blue Tooth, and some even serve as wifi hotspots. Furthermore, your car will have the latest driver assistance and safety features, which can provide incredible peace of mind.
Pro – Less Maintenance
Finally, because a new car hasn’t had years on the road with unknown drivers, you won’t need to worry about maintenance for the first few years. Regular wear and tear things, like oil changes and tire rotations, are always going to be necessary. However, you shouldn’t experience any other repair issues.
Con – More Expensive
We wouldn’t be unbiased if we didn’t cover the other side of the pros and cons of buying a new car. Let’s start with the obvious con – pricing. If you want that new car experience, you’re going to have to pay for it.
Brand new cars are thousands of dollars more expensive than there older counterparts. This means getting approved for higher loans and paying more in interest over time. Without excellent credit, you may not even be able to get approved for a brand new car loan.
Con – Depreciation
One of the biggest advantages of buying a used car is avoiding the depreciation costs of a new car. As noted above, brand new cars are thousands of dollars more expensive than their counterparts from even the previous year.
That’s because new cars lose as much as 30% of their value in the first year. If you buy a new car, you’re the one paying for that depreciation, and therefore, losing money.
Con – More Stress
Another negative in the pros and cons of buying a new car is the stress that comes with owning a brand new vehicle. You’re going to worry about every little possible ding and dent the car is vulnerable to. While it’s nice to have new things, you can’t control other people.
All it will take is one misguided shopping cart in the grocery store parking lot to ruin your day. You’re also going to be very picky about who and what comes into your car because you won’t want to ruin the interior.
While you wouldn’t want anything to happen to a used car either, it won’t cause you nearly as much stress.
Con – Higher Additional Costs
High price tags on vehicles aren’t the only increased costs you’ll suffer when buying a new car. You also need to think about insurance and registration fees.
In most states, registration fees are higher for brand new vehicles. They either charge based on the year of the car or based on the value of the car.
Additionally, you can expect to pay higher insurance costs. If they’re insuring a more expensive vehicle, they’re going to want more money from the owner.
Con – Fewer Options
In the pros and cons of buying a new car, you can’t exclude finances. We’ve already talked about how much more expensive new cars are, but let’s take a look at how that affects the buying process. If you’re working with a budget and want a new car, you’re going to have limited options.
However, if you’re buying a used car, you’re going to have a lot more viable choices because of the lower costs. You can opt for better trim packages, higher-end models, and more by buying a car that’s a few years older.
Did the Pros and Cons of Buying a New Car Help You Decide?
We hope our list of the pros and cons of buying a new car has helped you come to a decision. If not, we still have more to offer. Be sure to check out some of our other articles before you go for more advice and information.
Our blog was created to help people like you make decisions and find answers in everyday life.