Buying New vs. Buying Used - Boone, NC
“Should I buy new or used?” is the age-old question every car buyer has asked themselves at least once. It’s a difficult question to answer, but easier to tackle once you split it into three other questions—and all have almost everything to do with cost.
How Good is Your Credit?
Financing a used car almost always requires money down in either cash or a trade-in with equity. But if your credit is good, you may be able to buy new with little or no down payment, thanks to the numerous incentives manufacturers offer to new car buyers like cash incentives, discounted financing, and rebates.
Do You Want to Take the Deprecation Hit?
A new car loses anywhere around 20% to 30% of its value as soon as it leaves the dealership, and most go on to lose up to 50% of their original value in the first three years. It’s almost like throwing money away. If you see your car as an investment and don’t intend to drive it until the wheels fall off, you’ll find much better value in buying used.
Can You Afford Used Car Repairs?
Even a car that has received the best treatment from its owner will have worn out parts after thousands of miles of use. A used vehicle may have expired warranties and may need maintenance and repairs soon after you buy it. Factor those in before you make your decision.
Furthermore, repairs don’t just cost money—they also cost time. A used car will spend more time in the shop than a new car. Figure out first if you can deal with the downtime.
Everett Nissan has a vast variety of New and Used vehicles for you to look at.