Think Long-Term: 4 Benefits of Buying a Newer Car Model

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When buying a car, one of the first decisions you will have to make is whether you should get a new or used car. While used cars are more affordable, there are four reasons why you should consider getting a new car.

More Long-Term Reliability

The first reason why you should consider getting a newer car from a dealer, like Bay Ridge Nissan, is that they will provide you with more long-term reliability. Cars today are built very well and can last a long time until major repairs are needed. Generally speaking, you can expect for the major mechanicals of the car to last for up to 75,000 miles until major repairs are needed. If you buy an older car with a lot of miles, much of the money that is saved on the purchase price will ultimately be spent on repairs and replacements. Furthermore, you could find yourself without your car for an extended period of time while it is in the shop.

Resale Value

The second reason to buy a newer model car is that it will have a higher resale value. While old cars can be more affordable, they tend to depreciate very quickly once they get past a certain point and can even be harder to sell. While brand new cars do depreciate once they are driven off the lot, those that are just 1-2 years old will hold their value very well for a few years in the event you want to sell.

Warranty Coverage

The third reason why buying a newer model car can be a good option is that it will provide you with more warranty coverage. Many new cars today come with warranties that will provide you with repair coverage for up to the first 60,000 miles that the car is driven. Even if you are the second owner of a relatively new car, the initial warranty will continue with the vehicle. This can reduce your maintenance costs over time.

Lower Borrowing Costs

The fourth benefit of getting a newer car is that your interest rate could be lower. Banks tend to view new cars as less risky lending options than used cars. Because of this, your interest rate on a loan could be lower. Furthermore, if you use dealer-financing options, you could get a great promotional rate that could be as low as 0% for the life of the loan.

In conclusion, buying a car is a big decision. When making the decision to buy a car, you will first need to decide whether to get a new or used vehicle. While used cars are cheaper, there are several advantages that come with getting a new car.

Carsurfer Admin

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