It’s the dilemma that all drivers face: do I buy a new or used car?
Which is followed then by a second question: how can I determine which option is right for me?
Thankfully, we have the guide that breaks the pros and cons of each of these options. Let’s take a look at them now.
Buying a New Car
The Pros
- New features – The majority of new cars come with the latest technological and safety features, making your ride a breeze. Expect the likes of Bluetooth, rearview camera, emergency brakes, and much more!
- Awesome financing deals – With new cars, you can get access to a wealth of financing deals with low or no interest if you have good credit. In some cases, you might actually save money on a new car instead of spending it on a used car.
- Warranty – You’ll have anything covered in the next three to five years with a new car warranty, ensuring that if anything goes wrong, the manufacturer and/or dealership will handle the work for you. You’ll also save money on any repairs or maintenance.
- Reliability – You’ll experience peace of mind knowing that your new car is reliable, safe on the road and will require minimal hassles over the first decade or so.
The Cons
- More Expensive – The most obvious negative is that brand new cars cost more than used cars. Whether you’re using savings or a loan, it can be a hefty hit on your wallet.
- More Costly Insurance – The better the car, the more expensive your insurance. You’ll definitely end up paying more on insurance – and full insurance coverage at that – than a used car.
- Quick to Depreciate – New cars depreciate more quickly than their used counterparts once you drive them off the showroom. It can drop as much as 20%.
Buying a Used Car
The Pros
- Cheaper to Purchase – Anything used – from iPhones to clothing – is always going to be cheaper than brand new versions. The same applies with cars. You’ll save on the initial purchase when looking for a car.
- Cheaper Insurance – You’ll end up paying less on insurance with a used car. Insurance companies always price used vehicles lower than new cars, so expect to save in this aspect.
- Wide Range of Options – You’ll be able to find anything you want when it comes to used cars. There is so much out there that you’re bound to find something you love. Just use our car buying service to get ahead!
The Cons
- More Costly on Repairs & Maintenance – To maintain and ensure your used car is in good order, you’ll have to do your best to maintain it. You might end up paying more on repairs and maintenance than you expect.
- Higher Mileage – The longer the car has been on the road, the more mileage it has clocked up. That means one thing: it’s not going to last forever. Eventually, it will wear down, requiring you to upgrade or spend more on repairs.
Use Our Car Buying Service to Find Your Dream Car
As you can see above, there are pros and cons to both used and new cars in Canada. Ultimately, it’s up to two things: what car you want for your lifestyle and your budget. Thankfully, by using our online car buying service, you can find a car that works for you.
Carismo is the deal-finding car buying service bringing back the excitement of buying the right car at the right price. By combining the thrill of car finding with the ease of online shopping, we’ve made it easier, stress-free and more personalized to finding and buying a new car. Learn how buying a car is fun, simple and stress-free with Carismo – sign up today! Your new car awaits!
