Is it Better to Buy a New or Used Car?

If you’re looking for a different vehicle for your Canton commute, you may wonder, “Is it better to buy a new or used car?” There is a lot to consider when comparing used vs. new cars, and neither one is inherently better than the other. Still, which one is a better fit for you depends on your needs. Below, the team at Kempthorn Motors discusses buying a used vs. new car so you can make an informed buying decision. Feel free to contact us with any questions. 

New Car Advantages

What are the advantages of buying a new vs. used car?

• The Latest Technology: When you buy or lease a new car in , you get access to the latest technological features. Auto technology changes quickly, and sometimes a vehicle that’s only a few years old can feel outdated. 
• Full Warranty Coverage: New vehicles almost always come with a comprehensive bumper-to-bumper and powertrain warranty to cover the car’s essential components for a specific amount of miles or years. 
• Greater Fuel-Efficiency: Fuel efficiency is getting better and better. If you want impressive fuel economy, many of today’s vehicles have turbocharged motors that deliver greater fuel economy than the V6 and V8 engines of years past. 

New Car Disadvantages

• Higher Costs: New vehicles cost more than used vehicles and certified pre-owned vehicles. You will also have to pay taxes on the price you paid, and when the vehicle’s warranty expires, you may find that all of that state-of-the-art technology is expensive to repair. 

Used Car Advantages

What are the benefits of buying a used vs. new car?

• Cost Less: Buying a used vs. new car is an excellent way to save money. Plus, you’ll pay less on car insurance!
• Less Likelihood of Negative Equity: Negative equity, or “getting upside down” on your loan, is when you owe more money on your car than it is worth. You could even get stuck having to pay off the car if it is totaled or stolen. But when you finance a used car, you’ll have a smaller auto loan and a reduced likelihood that you’ll get “upside down” on your car loan. 
• Slower Depreciation: The value of a new vehicle starts to diminish as soon as you drive away from the dealership. The most significant amount of a car’s value is reduced in the first few years of ownership. Pre-owned vehicles have already depreciated substantially, so you will lose value more slowly as the car ages. 

Used Car Disadvantages

• More Repairs: As a car ages, it typically requires more repairs.
• Higher Interest Rates on Financing: Lenders typically charge higher interest rates on used-car financing, which means a higher monthly payment. 

Why Buy Your Next Car From Kempthorn Motors?

There are lots of reasons to buy your next vehicle from Kempthorn Motors, such as:

• A wide selection of new and used vehicles
• Certified pre-owned vehicles
• It’s easy to apply for financing online
• Friendly team 
• Convenient location neat

Start Shopping at Kempthorn Motors Today! 

By now, you probably have a good idea if it’s better to buy a new or used car for your needs. We invite you to browse our new car specials and pre-owned inventory for savings. You can even get a value for your trade-in online, so contact us today!