Purchasing a vehicle is a major expense, and often the primary consideration is whether to purchase new car or used car.
Buying a new vehicle is more expensive, of course. But there are many reasons the increased price can more beneficial than opting to buy an older model.Perhaps the two biggest benefits of purchasing a new vehicle instead of a used vehicle are the warranty and a greater selection of available cars.
Considering the latter first: You still may not get the exact car of your dreams, but when buying new, more often than not the purchaser has vast choices in engine sizes and transmissions, interior and exterior colors, upholstery fabric and various high-tech options, satellite radio, multi-functioning sound systems, entertainment centers to navigation devices.
Many manufacturers’ most popular cars are available in multiple configurations, but not every dealership has every model in every style. Nevertheless, most dealers have relationships with other regional dealers of the same brands and dealerships often trade vehicles. Such selection options aren’t available when buying a used car
Like the car itself, new car warranties are new. Carandriver.com notes that while certified pre-owned vehicle warranties can be purchased, the best warranties, some as extensive as 10 years and 100,00 miles, are included in the purchase price of a new car.
With vast competition among manufacturers, new car buyers can benefit from lower interest rates, including several manufacturers’ zero percent financing. For some new car buyers, cash rebates may be a better deal than low or zero percent financing. Neither option is available when purchasing a used car.
According to Cars.com, another good benefit of purchasing a new car is ever-advancing safety and technology. Some early generations of airbags, for instance, caused injuries to children when deployed. New cars will include the newest safety-tested airbags and other more recent safety features — tire pressure sensors to stability control.
If a car buyer is interested in a top-of-line audio system, new cars most likely have the best available options. The same is true for other technology options like Bluetooth, rear-view cameras and GPS systems.
One automotive industry accepted detriment to purchasing a new car is that buyer loses money as soon as the vehicle leaves the showroom or dealer parking lot. But Cars.com reports that in some instances, high-demand, high-end vehicles that sell for more than the dealer’s list price have less depreciation and better resale values. Likewise, the industry’s most popular brands have lower depreciation and stronger resale values
The benefits of not knowing a used car’s specific history is a major justification for buying a new car. If, for example, the full service records of a used car isn’t available, the buyer doesn’t know for sure know how often the owner changed the oil and other routine but important maintenance.
A new car’s history, of course, begins with its new owner — a benefit with great value.