When purchasing a vehicle, many customers tend to look towards newer models as they provide the most modern engine and latest technology. While purchasing a new vehicle does come with some great benefits, so does buying a used one. Used vehicles have less expensive price tags, and their value doesn’t depreciate as fast. Before Comanche, TX drivers go and buy the latest model vehicle - they should consider if potentially saving thousands on their purchase wouldn’t be the better option
The Good & Bad to Buying a New Vehicle
When it comes to new vehicles, there are plenty of benefits to be had. You get access to the latest technology, new models tend to be more fuel-efficient, and you have zero maintenance issues. While the benefits of a new vehicle are great, there are downsides worth considering.
New Models Means Bigger Price Tags
Since the latest models are equipped with newer features and technology, it only makes sense that the cost will be greater. Because manufacturers come out with new versions of the same vehicle yearly, typically, not a lot changes from one model year to the next. Therefore, it’s worth considering looking at a pre-owned model of the same vehicle and see if you can’t get similar if not the same benefits at a better cost.
Deprecation is a Concern
You may have heard that once you drive a new vehicle off a lot its value is cut in half. While that is an exaggeration, the sentiment is no less true. When a new automobile does depart from a dealership, the vehicle does begin to lose its value within the first two years. For example, the cost of a 2021 Lincoln Navigator starts at around $80,000, but a used 2019 Lincoln Navigator can sell for nearly $45,000.
If you think this one example is just a one-off, trust us, it’s not. Deprecation happens all the time, and it’s worth considering if you plan on getting a new ride. That’s why it’s worth looking into used vehicles with similar features as you could be saving thousands.
Why You Should & Shouldn’t Buy a Used Vehicle
Let’s get this out of the way first - used cars can have issues. When customers from Coleman, TX, buy a used car, they’re inheriting a previous owner’s problems if they buy from a person directly. By shopping for a used vehicle at a dealership, most of those problems aren’t an issue as dealerships inspect the vehicles they purchase to ensure a safe drive. While not every issue can be addressed, the major ones are at least, and that’s what matters in the long run.
Used Vehicles Great for First Time Drivers
If you are just starting out driving or buying your child their first ride, a used vehicle is a perfect option. When new drivers hit the road, they are not always the safest and accidents tend to happen more. Instead of paying through the nose when a new vehicle gets scratched or damaged, repairing a used vehicle will cost far less.
Used Vehicles Depreciate Much Less
While we’ve already discussed how new vehicles depreciate, it’s worth mentioning that used vehicles depreciate at a slower rate. Should a resident from Stephenville, TX, decide to purchase a 2017 or 2016 model from our dealership and turn around a year or two later and sell that same vehicle they’ll find that its value has not diminished nearly as much as it would have if the vehicle were new. Thus, buying a used vehicle can have merit if you want to save on cost and resale value.
There you have it, the advantages and disadvantages to buying both new and used vehicles. If you have the means, purchasing a new vehicle can provide a lot of benefits - it’s just worth considering the negatives that can accompany it. And if you want to save money and don’t mind a vehicle with some added miles, you can’t go wrong with a used purchase either.
Whichever option you go with, Big Country Lincoln is always here to help. Stop by our dealership in Brownwood, TX, where you’ll find quality new and pre-owned vehicles you’re sure to enjoy.