Most of us enjoy the wonderful feeling of going out the door on a beautiful Saturday morning knowing on THIS day; a new (to you) vehicle is more than likely coming home today. The question often lies within each of us “Do I buy new or do I buy pre-owned”. Although this statement resembles something Shakespeare would have written if only there were cars in his day; the subject is reasonable…especially in 2016. At Perkins Motors we offer consumers wonderful new and pre-owned car choices, and want you to be the best equipped consumer. Here is some information to consider when it is YOUR time to buy a vehicle but are not quite sure if you are going the new or pre-owned route.
Reliability, updated ‘look’, low mileage and perceived safety are some topics JD Power & Associates outlined recently as reason for a new car. Here are some other reasons to consider when you are in the market for a brand-new vehicle:
Though consumer interest in efficient vehicles is directly correlated to the price of gasoline, car companies must strive to meet federal regulations lest they face significant penalties. That means that a new car will almost always be more fuel-efficient than a used car. In turn, that means a new car will make its owner happier when gasoline prices spike again (which could be any day now some experts suggest).
This applies to safety technology, too. Collision avoidance technologies are proving to reduce accidents, and they are becoming more widely available in mainstream models. Ask if your car-to-be has this kind of advancements!
Yes, often, the payments for a new vehicle are higher than the payments for a used vehicle, and it takes longer to pay off a new vehicle loan. However, for as long as buyers can obtain no-interest and exceptionally low-interest car loans, a new car could be within the grasp of someone who might otherwise have no choice but to buy a used car.
When you sign the paperwork for a brand-new car, drive it off the lot, take a ride around town, and then return the car to the dealership…it isn’t a new car anymore. It is a used car. And because it is a used car, it is worth substantially less than you paid for it just an hour prior. After three years, Consumer Reports says your new car will be worth just 54 percent of what you paid for it, on average. This is something to consider during the buying process.
Beyond the issue of depreciation, you’ll pay less sales tax on a pre-owned car, insurance for a pre-owned car costs less, and in Colorado it is cheaper to register a pre-owned car than it is a new car. The thing to remember is that these savings could be spent on a used car’s higher maintenance requirements. Decisions decisions!
While a vehicle history report cannot identify every possible cause for concern associated with a particular used car, easy access to them certainly adds significant peace of mind when buying one.
Buying a pre-owned vehicle can be much riskier than buying a new car, because you don’t know with 100-percent certainty where that car has been and how it was treated, and there are no guarantees that significant problems won’t arise before you’ve got it paid off. That’s true when you decide to save thousands by choosing a used rather than a new car in exchange for a healthier bank account, you assume some risk, and perhaps lose a little peace-of-mind.
The good news is that today’s vehicles are manufactured better than ever in the automotive industries history and vehicle history reports can reveal important details about a car’s past.
As you can see there are benefits to both a new or pre-owned car. The reality is you must evaluate your needs, budget and lifestyle before making this very important decision. However, as you know, our expert team of sales associates at Perkins Motors are always going to be there for you to assist not only your decision in the ‘style’ of vehicle you purchase but whether pre-owned or new is best for you and your wallet. Good luck choosing and happy driving!