Should I Buy a New or Used Car?
At some point in our lives, most of us are going to own a vehicle. Purchasing a vehicle is a major decision that can impact your life in a big way for years to come. Standard thought suggests a new vehicle is a way to go. After all, a new car is less likely to break down and often comes with a standard warranty from the manufacturer. Besides, who doesn’t like that new car smell? But, what about the plus of purchasing a NY pre-owned vehicle?
While it is undeniable that new cars have a certain appeal, there is some serious appeal to buying pre-owned. For one, pre-owned vehicles are more representative of their actual value, having already suffered depreciation by the time you encounter them. A new car can lose as much as 9% of its value the minute you drive it home. In the case of a $25,000 vehicle, that ride home costs you over $2000!
In addition to depreciation concerns, pre-owned vehicles have had time to develop a track record. This year’s new model might have stunning reviews and a laundry list of accolades, but in the end, it is still an untried product. Only after a vehicle has spent some time on the market can you determine if it’s a diamond in the rough, or just another lump of coal. Talk to your dealer when buying used and ask questions about the vehicle’s track record, along with any known maintenance problems particular to that brand. Spotting these financial potholes ahead will allow you to steer clear of them before it’s too late.
Last, but not least, is the question of warranty. New vehicles have an undeniable allure when they sport a manufacturer warranty, causing them to appear more attractive at first glance. While a warranty is always good to have, it’s important not to overlook the option of certification. Most dealers of pre-owned vehicles offer “Certified” cars that extend the original manufacturer warranty and sometimes exceed it. Don’t pay the price for the luxury of an original warranty when a certification will do the trick at a fraction of the cost.
No matter who you ask, you are likely to get a strong opinion on whether you should buy new or used. As a smart consumer, you should always weigh your options, but don’t forget to answer the most important question: Does this opinion have my best interest at heart?
If you find yourself in the market for a pre-owned vehicle, or even if you’re just considering one, we at Yonkers Automall would be happy to serve you. Contact us online anytime or come by our lot; we’re located at 1716 Central Park Ave in Yonkers. We look forward to serving you!