Is it Better to Buy a New or Used Car?

Are you ready to take your Cedar City and Mesquite, NV drives to the next level? Choosing a vehicle can and should be exciting—but is it better to buy a new or used car? While neither option is better than the other, one of these paths may be a better fit for your lifestyle. In this article, we’ll compare new vs. used cars so you can decide which type of vehicle is best for you! Learn more with Stephen Wade Chrysler Jeep Dodge Ram FIAT today!

New vs Used: Pros and Cons

New Car Benefits

• Upgraded Technology: When you buy or lease a new car, you have the advantage of having all of the latest technologies, features, and amenities. This also includes software updates.
• Greater Fuel-Efficiency: Newer technology also means enhanced fuel economy. You’ll find that more powerful vehicles have turbocharged four-cylinder motors, rather than V6 and V8 engines.
• Full Warranty Coverage: The majority of newer vehicles are protected with a bumper-to-bumper and powertrain warranties that cover most of the car’s components for a certain amount of years and miles.

New Car Disadvantages

• More Expensive: Newer cars are generally more expensive than used cars because of the enhanced features and amenities that come with the vehicle. You can use our online payment calculator to see what your estimated monthly payment will be.

Used Car Advantages

• More Cost-Effective: If you’re looking for a way to save money, choosing a used RAM or a used Ford is a great way to work within a budget.
• Slower Depreciation: A new car’s value depreciates the minute it’s driven off of the lot, but with a used vehicle, the depreciation is much slower. The initial depreciation drop took place before you purchased the vehicle, so you won’t have to worry about fast depreciation.
• Less Chance for Negative Equity: Negative equity is when you owe more on your car loan than what the car is worth. When you finance a used vehicle, you’re likely to have a smaller loan than that of a brand new vehicle. You can apply for a loan online.

Used Car Disadvantages

• Higher-Priced Financing: In general, lenders will charge higher interest rates on used car loans. You can improve your chances of getting a good rate by paying off outstanding debts, improving your credit score, and demonstrating your ability to repay the loan.

Get Your New %%di_make%% with Stephen Wade Chrysler Jeep Dodge Ram FIAT Today!

Take a look at our inventory and test drive the vehicles that will fit your lifestyle! Contact our finance department for more information about the purchasing process for a new or used vehicle. We’re easy to reach from anywhere near Mesquite, NV, and we look forward to seeing you soon!