Buying a new car is fun! Buying a used car is awesome! Either way, you’re getting a new-to-you vehicle. So, what is the right choice for you?
The pros of buying used
• Used cars are usually more affordable
If you want a lower monthly payment, buying used is one way to make that happen. According to Experian, the average monthly loan payment on a new car in 2023 was $726, compared to $533 on used cars.*
• Car insurance can be cheaper on used cars
The cost to insure a used car is usually cheaper than the cost to insure a new car. The reasons include that a new car has the newest sensors and technology and a new car price tag. Whereas a used car has a lower price tag and the not-so-fancy bells and whistles, so if the used car gets totaled it costs less to replace.
• Used cars could come with a warranty
One of the most common questions about buying a used car is about warranty. Many used cars are still under factory warranty. Most people who lease a car, turn it back in after three years, and still have 2 years left on its 5 year warranty for example (warranty lengths differ by manufacturer). Plus, there’s an option to buy Certified Pre-Owned - that’s a manufacturer certification and comes with its own benefits, including a factory warranty.
• Less vehicle depreciation
Vehicles (like other products) depreciate in value over time. The good news is that a used car offers much less depreciation.
The pros of buying new
• Customize like crazy
You can pick your colors and choose your options; trim levels, engine sizes, technology and safety features. You can find exactly what you want. And at the Folsom Auto Mall you can choose from any new Ford, Toyota, Kia, Chrysler, Dodge, Jeep, Ram, Buick, GMC, Hyundai, Chevrolet and Nissan so the options are endless when buying new.
• Fewer early relationship problems
The honeymoon period is fantastic. New cars are far less likely to have any problems early on; you're the only owner a new car has ever known. Plus, with certain new vehicles scheduled maintenance is even included.
• Latest Features
A big reason why people choose to buy a new car in the first place is for all the fun and exciting new features of the most recent models. Technology changes all the time, and when you buy a new car you get all the fanciest safety, navigation, entertainment, and accessibility features that come with each new model year.
• Warranty
One of the top benefits of buying a new car is that your vehicle will be covered under the manufacturer’s warranty for several years. Extended warranty coverage can also be purchased from the dealer. Having a manufacturer warranty means almost any issue is covered. Engine, tech, fuel problems or any manufacturer defect would be covered.
To buy new or to buy used - that is the question! There is no right or wrong answer it just comes down to a matter of preference. But no matter what you choose. The Folsom Auto Mall has plenty of new and used Fords, Toyotas, Kias, Chryslers, Dodges, Jeeps, Rams, Buicks, GMCs, Hyundais, Chevrolets and Nissans to choose from. Find yours today!