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Should you buy a brand new or pre-owned car?

September 29 2021 , Written by SEO Solution Expert Published on #Used Toyota for Sale in Modesto, CA, #used Nissan Nv200 Cargo Space

A brand new car would be attractive, but your know-it-all says buying a used car is a wiser choice in the long run. Here's how to decide what's right for you.

Benefits of buying a new car

A new vehicle is an undeniable status symbol that lets the world know that you've arrived in our consumer culture. Apart from the cosmetics, the new car has other advantages as well.

Reliability and warranty protection: Most Used Toyota for Sale in Modesto, CA have a good reliability record, and if something goes wrong, it is likely covered by the manufacturer's warranty. Buying a new one also means you don't have to worry about how the car was treated before you bought it.

Free roadside assistance: Many new vehicles come with a roadside assistance system. This will help you save on insurance coverage yourself or towing bills if your vehicle breaks down.

Latest features: The new cars will likely meet the latest fuel efficiency standards and the most advanced safety features.

Attractive financial offers:  Many car makers and dealers offer low-interest or no-interest financing programs as long as you have a good credit history. This can reduce the cost of purchasing a new car compared to purchasing a used car.

Disadvantages of buying a new car

Expensive to buy: Buying a new car takes a heavy toll on your wallet. If you use a car loan to finance your purchase, you are more likely to borrow more and will pay more interest over time.

It depreciates quickly: New cars depreciate faster than their pre-owned counterparts. The vehicle loses most value in the first few years of ownership - and much of that is lost in the first few seconds after leaving the batch. By some estimates, an instant loss could be 20% of the value of the car. This is because when you purchase a new car from a dealer, you pay the retail price. Once you leave the batch, the car will only cost a lower wholesale price. This is the amount the dealer would be willing to pay if you tried to sell it back.

It is more expensive to insure: New cars also have a higher auto insurance cost than used models because their replacement cost is higher.

Benefits of buying a used car

Reduced price: By the time a car enters the used car market, most of its depreciation has already occurred. So buying a used one is an opportunity to get more cars for your money.

Warranties available: Some vehicles now come with a warranty that covers the most expensive vehicle drive train components over 200,000 miles. If you buy a certified used vehicle from a dealer, you will likely receive a warranty extending the manufacturer's original warranty. (Certified used cars tend to be more expensive than other used cars, but they've also been thoroughly tested and upgraded as needed.) Of course, if you know how to handle a wrench, buy a car that takes a little time, and attention can significantly reduce your expenses.

Cheaper to insure: While a dealer may require you to provide full coverage for a new car you finance, you no need to spend extra on insurance if you pay cash for a used Nissan Nv200 Cargo Space.

Should you buy a brand new or pre-owned car?

When choosing a new or used car, consider both the original price and running costs. Some of the things you can pay for with a new or used car include:

  • An initial fee
  • Taxes, titles, and closing fees
  • Property tax
  • Car insurance
  • Service
  • Repair
  • Gas and oil

So if you decide to buy a used Toyota for Sale in Modesto, CA, visit Prestige Auto Sales. We have well knowledgeable staff that gives special attention towards the quality.

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