Purchasing a car is one of the most important decisions you’ll ever make. Indeed, cars represent the second biggest purchase you’ll ever make, second only to the purchase of a home, so you want to get it right. There are so many decisions to be made about make and model, color and options, safety features to look for, but perhaps the most important decision is whether to buy a new car or a used car. There are advantages to each, so let’s take a look at both to see if we can help you make the right choice.
New Car Advantages
The new car is made to order just for you and just the way you like it.
You can order a new car with all the bells and whistles you want, or you can ask your dealer to search for one that most closely aligns with what you’re looking for, with the right combination of options, color, trim levels, wheels, performance options, etc.
It’s pristine.
A new car hasn’t had any accidents, it won’t have a spotty maintenance or repair record, the paint will be perfect, it won’t smell funny, and it’s only been driven a few miles from the factory to the truck, then to the dealership.
Warranty.
Your new car will come with an unblemished warranty. Anything that goes wrong, even the slightest repair or defect, will be handled by the dealership at no cost to you.
Most up to date technology.
The newer the car, the more modern the technology that comes along with it. Multimedia and navigation interfaces are constantly evolving and improving, so if you want to have the latest and greatest gadgets, the selection will be better with a new car.
Higher fuel efficiency and lower emissions.
Cars are largely getting more fuel efficient, even while simultaneously getting more powerful. Diesel engines are cleaner than ever before, and choices in the hybrid and EV segment are growing.
Financing.
In most cases, you’ll qualify for a more attractive interest rate from your local lender if you’re purchasing a new car. This is because a new vehicle is worth more and hasn’t begun to depreciate, so the lender is more secure in making the loan.
Used Car Advantages
Price
Used cars cost less than new cars if you’re comparing apples to apples. The lower pricing can make it possible for a buyer to move up to a nicer model than he could afford if he was buying a new car.
Depreciation
Cars lose approximately 20% of their value during the first year, and for some models that figure can approach 40%. With a used car, you don’t lose value as quickly. The bulk of the depreciation for that car occurred before you took your first test drive.
Dings
With a new car, you’ll worry about every dent or ding you see on that beauty. A used car may already have a few battle scars from run ins with errant grocery carts or falling tree branches. As a result, you will likely be much more relaxed about such trivial matters.
Insurance rates
You may find that the rates you pay for insuring a used car are less than that for a new car. The reasons are simple. The used car is less expensive, so the insurance company has a lower risk. And whether you buy new or used, it’s a good idea to check the rates with your local agent before making a final decision. Insurance companies are fiercely competitive, and any time you’re purchasing a car is a good time to shop insurance rates with your local agent or even with a different company. And remember, you can realize significant discounts on your car insurance if the same company also insures your home, condo, or apartment.
Certified Preowned Vehicles
Certified Preowned Vehicles (CPOs) have been a game changer in recent years when it comes to purchasing a used vehicle. Ford has two types of CPO’s, Ford Gold, and Ford Blue, and they both offer peace of mind to buyers looking for high quality used vehicles at a more affordable price.
Gold Certified vehicles undergo a rigorous 172 point inspection, ensuring they meet Ford’s stringent quality standards. These vehicles come with a comprehensive limited warranty, 24/7 roadside assistance, and a vehicle history report
Blue Certified vehicles go through a 139 point inspection and offer a limited warranty and roadside assistance.
Choice
Although you can’t build a used car to order, you may want a car with options that are no longer available from the manufacturer in their new models.
Final Thought
The bottom line is this. You need to carefully consider all your options. Take the time, do some research, and you’ll make the right decision.
Yankee Ford is the premier Ford dealership in South Portland, Maine, offering a diverse inventory of both new and used vehicles to choose from. Our highly trained sales team is ready to help you select your next vehicle, and our certified factory trained service technicians are equipped to handle all your service needs. If you have any automotive needs in the Portland area, we hope you will stop by and let us serve you. For more information, visit our website or contact us. We hope to see you soon!