When it comes to deciding on a new or used car, it all boils down to what kind of financial situation you’re in. Both options have their benefits and drawbacks but when it comes to finances, used cars usually take the cake. New cars may come with a warranty but a used car can provide peace of mind as well.
When you first head to a car lot, odds are you’ll notice the price difference between used and new cars. The price on a used car may even be low enough that you can step up to the next trim level. That can lead to more features, better safety equipment, and an overall better car.
Unlike new cars, used cars don’t go through depreciation the second they leave the lot under new ownership. Some models take a 40% hit to their value as a result of depreciation. Used cars have already undergone depreciation so the car is worth the exact same as you leave the lot.
New cars are limited to a single model year. Used cars are the exact opposite. When you’re searching for a used car, you can check out models no longer in production, features no longer on the market, and more. There’s no limit to what car you can check out. That can ultimately lead to more satisfaction with your purchase.