New or Used Car: Which is Right for You?
When considering buying a car, you have many choices - black vs. red, sport vs. utility, new vs. used. Your finances and what you're looking for usually dictate whether your best choice is new or used. Before you go shopping, know the major differences between new and used cars.
- You can customize a new car to meet your preferences. You can pick the features and options you want – just about anything from the color to features like heated seats and a moon roof.
- A new car usually requires less maintenance. You'll likely not need to perform any major maintenance - replacing brakes, new tires, etc. - in the first few years of ownership.
- New cars have a manufacturer warranty. A manufacturer's warranty is a great safety net during the first few years. Also known as factory warranties, they usually include "bumper to bumper" protection – meaning they cover the costs of most parts and systems with some exceptions of course. Routine maintenance and "wear" are common exclusions for items such as oil changes, brakes, tires, etc.
- Get the latest safety features. Is safety concern? Many new models offer such up-to-date safety features as blind spot detection, rear-view cameras and built-in emergency response systems.
- Take advantage of new technology. If you're interested in a car with advanced technologies, such as a built-in GPS or advanced audio system, consider buying new.
- You could spend less money. Used cars are less expensive than new. If you're interested in a particular make and model, investigate used car ads online and in your local newspaper to find one to fit your budget.
- Used cars depreciate less than new cars. Since the greatest depreciation happens during the first few years of a car's life, a used car's value will diminish less than a new car's.
- Certified car programs are available. If you prefer to have your car under warranty, consider a used vehicle that is "certified" – meaning it has undergone a safety inspection. Check online to compare certified pre-owned vehicles. Used car warranties differ based on the automaker, so make sure to read the warranty carefully.
Whether you decide to buy a new or used car, you'll likely be busy setting up a loan or lease, taking care of registration/title changes and other important paperwork. Just don't forget to also update your auto insurance policy to include your new vehicle. Review affordable car insurance companies such as Titan Insurance to learn about the different types of insurance coverage you may need for your new or used car.
The provided information and safety suggestions were obtained from sources believed to be reliable and is intended for informational purposes only. Titan and its affiliates assume no liability in connection with providing it or your use of it. Your circumstances may not warrant or require some or all of the safety suggestions, and there may be additional available safety procedures that are not referenced on this webpage.