Vehicles are a crucial part of most of our daily lives. Having one to get to work, pick up the kids from school, and have some fun on the weekend is essential.
But there are quite a few options out there, and everybody’s needs and wants are different.
Finances, location, and lifestyle all play into the process of purchasing any vehicle.
Then, there is the question of whether to buy a new one or a used one.
Financial gurus, money-savvy publications, and even a lot of automotive journalists will scream, “Treason!” at the very thought of buying a new car.
But… why?
Though it is quite possible that a used car is generally a better buy for the average consumer, there are a surprising amount of perks that a new vehicle can provide that may just make it a smarter purchase.
Here are a few reasons why buying a new vehicle is the way to go:
Everything about it is new:
Well duh… This is a no-brainer.
The fact that a new car is, well… new, doesn’t really help anybody besides the person who prefers a new vehicle to one that has seen other people’s use.
But, if you are the kind of person who values knowing where your vehicle has been, this is a pretty strong case to buy new, even if you do have to spend a little more.
The Flip Side: Your new vehicle won’t be new for long, especially if you try to keep it clean and scratch-free.
It has always been and will always be yours:
An advantage that piggybacks off the aforementioned reason is that you have a complete history of the vehicle from the moment you drive it off the lot.
This takes all the guesswork out of where that dent came from, if it actually had an oil change 5000 miles ago, and what exactly its former owner did for a living.
Again, this may not add any physical value or an increased discount when actually paying for the vehicle, but it does offer peace of mind. To those who value the fact that they know their vehicle’s history, the extra cost might be very worthwhile.
The Flip Side: Peace of mind is great, but you can’t trade piece of mind for any monetary value. Additionally, any future owners of the vehicle will miss out on this benefit.
New vehicles often come with some kind of warranty:
Most car manufacturers offer some kind of warranty on their vehicles when you buy them new. There are often additional warranties you can buy on top of the factory one, but you can also get those for used vehicles as well.
Buying a used vehicle may come with a remainder of the factory warranty, but that is also dependent on how old the vehicle is.
Even a new vehicle known to be unreliable will still have some kind of warranty.
Some of the most common powertrain warranties out there are 3 year/36,000 miles, 4 year/48,000 miles, 5 year/60,000 miles, and even 10 year/100,000 miles.
The Flip Side: A 10 year/100,000 mile warranty isn’t usually a complete, bumper-to-bumper warranty. While many new vehicles are covered fully for a short amount of time, advertised warranties are most often powertrain warranties, which only include the engine and transmission.
There are usually better interest rates and better deals offered:
I’m sure you’ve seen the commercials for a year end blowout sale or the “Great Memorial Day Savings Event” where you can get 0% financing or $5000 cash back on a new vehicle.
That doesn’t happen for used vehicles very often.
It is almost impossible to receive 0% interest financing for a used vehicle, with higher interest rates for longer financing terms being the norm.
On top of that, even if 0% financing isn’t in your future, you can often find much better deals on new vehicles.
Only the hottest, most popular new vehicles actually go for sticker price in the wonderful world of cars, while used vehicle pricing is often much more firm. In fact, it isn’t unheard of for $10,000-$15,000 to be knocked off a new vehicle depending on the make and model.
You have to admit that isn’t bad for a new car or truck.
Financing isn’t for everyone, but if you have to get it, a new car will offer better financing, even if the initial price is higher.
The Flip Side: 0% financing is slowly becoming a thing of the past while leasing, and even subscription services, are becoming popular.
You can choose almost everything that you want:
Want it your way?
Even if you require a specific type of car with specific options, you can often order one to be delivered to the dealership nearest you. The worst case scenario is that you have to wait for it to be shipped.
If you don’t like waiting, there are far more new vehicle choices with potential option packages than you would be able to find in a used vehicle.
So yeah… you can get it your way!
The Flip Side: Vehicles are getting more package-focused and decreasing their single options lists. You may still be able to “build your car” on a manufacturer website, but you still may not be able to get every single option combination you want.
There is generally more up-to-date technology:
Vehicles are becoming more and more like the latest cell phones. The newest options are always available on the latest models, and technology is increasing so much that technological features have been dramatically improved on an almost yearly basis.
If safety and technology are a top priority for you, even a used luxury car or SUV won’t be able to compete with some of the new vehicle options available right now.
Active safety features and options don’t even encompass the whole picture. Better materials, build quality, and structure design passively protect drivers better than ever before.
The Flip Side: Do you really need all the bells and whistles in a car? As for safety, you can often get a slightly used vehicle that is known for its safety at a lower price than a new vehicle with only one or two extra safety features.
You may have heard the advice against purchasing a new vehicle over a used for a long time.
Times are changing, and undoubtedly, the prospect of buying a newer vehicle will continue to be harder and harder to justify.
Despite this, purchasing a new vehicle in favor of an older one isn’t nearly the financial and ethical disaster that some make it out to be. Though the purely physical advantages of buying a new car rarely outweigh the intangible ones, this isn’t always the case. Depending on what kind of vehicle you are searching for, some case could be made that a new vehicle purchase can provide better overall results than a used vehicle purchase.
