NEWS & INSIGHTS

Buying a New Car vs. a Used Car

Buying a New Car vs. a Used Car

As is the case for all major life purchases, selecting the right vehicle is an important process. Every prospective vehicle owner will come into a dealership with a number of questions, needs, budgets, and more. For some, a new car is the way to go, while others prefer to buy used. So what is the difference between the two and which one is right for you and your needs?

Buying New
There’s something special about that new car smell. Aside from being brand new and never driven, new cars come with a number of advantages.

  • Safety - No one else has owned it or driven it for more than a few minutes around the lot. Any concerns about wear and tear and damages are only applicable to used cars. This also leads to the shopping experience to be a bit easier because you don’t need to worry about its previous history or taking it to a mechanic right away.
  • Higher Fuel Efficiency - Cars are becoming more fuel efficient and powerful. Even if hybrid cars aren’t what you’re looking for, most new models are the most fuel-efficient vehicles on the market.
  • Advanced Technology - Modern features in performance, comfort, and safety are found in the newest models and are introduced every year.

Buying Used
New cars may sound like the best option to some, but others with a more strict budget, buying used may be the way to go.

  • Lower Prices - Buying something used is going to be much cheaper than new, so sticker price is the first advantage.
  • Depreciation - One disadvantage for buying new is that new cars depreciate in the first couple years of ownership, which means this is the responsibility of the vehicle’s original owner. This allows used car buyers to save thousands on the cost of the vehicle.
  • Larger Selection - If you’re looking for a particular make and model, it can be easier to locate it used. Also, if you like a certain type of wheel design or type of vehicle that’s no longer being made, it can be found used.

No matter if you prefer buying used cars over new cars and vice versa, it’s important to keep a vehicle service contract in mind. Omnisure works with retailers to help finance your vehicle service contract. No large down payments, 0% interest, and flexible payment terms over 12 to 24 months. Ask your retailer for more information on service contracts payment plan options!