Shopping For a New or Used Car: Which One is Right For You?
When shopping for a new vehicle, there are endless options out there. Many drivers sometimes wonder whether it’s best to buy something gently used or go all in on something brand new. The truth is both options will suit you well, depending on what you’re looking for. In this article, the team at Prince George Toyota will give you some pros and cons of buying either kind of vehicle to help you make an informed decision!
Buying New
Buying a new vehicle is always a fun process, especially with so many new Toyota models coming out every season. Here’s what you need to know about buying new!
Pros
- Shopping is easier: All new vehicles are considered perfect, so you don't need to evaluate the condition. It's also easier to determine how much the vehicle costs, even if you still need to negotiate.
- More financing options: Automakers have numerous incentives to entice buyers. New car loans oftentimes have better interest rates, so you might pay thousands of dollars less than the sticker price after you negotiate and apply incentives.
- Advanced technology: Your new vehicle might achieve better gas mileage and have lower emissions. Not to mention, you’ll get the most updated Connective Services and safety features currently available.
Cons
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Depreciation: For any new vehicle, it’s important to note that the biggest depreciation occurs in the first two or three years. This translates to throwing away several thousand dollars you will never get back.
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Higher debt: Newer cars come with higher insurance costs since replacement values are higher.
Buying Used
Buying a pre-owned vehicle is always great if you’re on a budget but still want many of the modern features currently available in new models. Here are the pros and cons of buying used.
Pros
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Best car for your money: It’s pretty common to find a late-model used car priced at half the cost of a new one. Oftentimes, modern features don’t change too much year after year, so you can still get many of the same features available in new models.
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Resale value: You might be able to sell the car for almost the same amount you paid in a few years. You can also benefit from obtaining solid financing options through a credit union or bank.
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Certified preowned: Buying a certified preowned vehicle from any Toyota dealer not only guarantees quality that meets the toughest standards but also comes with a plethora of benefits like warranties, complimentary oil changes, 24-hour roadside assistance, and more!
Cons
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Reliability: The biggest downside of buying a used car is that it might not be as reliable or that you need to do more repairs on it. You don't always know how the owner treated the car or why they traded it in. However, with CarFax reports on our certified used vehicles, this info is usually easy to track down.
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Lifespan: Used vehicles likely have a pretty high mileage depending on the price, which in turn lowers the lifespan. On a new vehicle, you can expect to keep it for years to come, whereas a used vehicle may not last you as long.
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Compromising: You might also have to compromise on the car's colour, features, and options to buy one with a better history or mileage.
Shop Quality Vehicles at Prince George Toyota
We hope we’ve given you some helpful information when it comes to purchasing your next vehicle. Here at Prince George Toyota, we have an extensive inventory of both new and used vehicles just begging to be taken out for a test drive. Browse our lineup today and contact us anytime for more information or to set up a test drive!
