Purchasing a Vehicle New
When it comes to car buying you want to work with people you can trust, so here at TriState Auto Champs we are breaking down the car buying process one blog at a time. Buying a car is a major investment, one that will be heavily influenced by the age of the car. Today we will be talking about the benefits of buying a new car over a used model.
Considering how much you will be spending on a car, it is easy to understand why people continue to look into buying used. The biggest reason most look to used cars over new is the cost. The initial payments on a used car are typically lower than buying new, the car cost less, however if you are financing a used car the interest rates are more than three times that of a new car. The average interest rate on a used car is 6.04 percent; compare that to the new car average rate of 1.64 percent. While the overall price is lower, it fails to take into account the cost of maintenance and upkeep on an older car.
Furthermore, a buyer with a good credit history can get a new car with little to no down payment. Manufacturers can afford to offer greater incentives on new cars that simply aren’t available with used models. Although you may be paying more for a new car it is entirely possible you’ll be getting a better car, at a better overall price, especially if you’re using TriState to negotiate the price on the new car.
The typical used car is, at least, three years old when sold. There is no way to know how the past owner has driven the car, maintained it, and generally cared for the vehicle. It is fairly certain a used car will require more regular maintenance and possibly expensive repairs far sooner than a new one. These repairs are rarely covered by the car’s warranty. New cars won’t need maintenance for the first several thousand miles. Even after that, a new car will realistically only require oil changes and a tune-up within the first year. It’s unlikely a new car would need major mechanical work. In the rare cases this happens, the manufacturer’s warranty protects new vehicles for at least three years, covering most if not all the expenses of any and all issues.
Generally, people who buy cars used, do so with the intention of driving a car “until the wheels fall off.” While owning a car for the entirety of its lifetime is certainly not a bad idea, new cars offer the owner a far greater selection when it comes to features. Aside from choosing the color and upholstery of a new car, you can select what technical and safety accessories the car has. These features may not seem like the most important part of your vehicle but when you take into consideration how long you plan to drive it, the little features definitely matter.
The initial cost of a new car may be greater than a used model, but the freedom and ease of ownership that comes with newer vehicles continues to persuade customers. For any and all advice about buying new, reach out to the professionals at Tristate Auto Champs today.