New vs Used: Why a Used Car Will be Easier on Your Finances

Shopping for a car can be both exciting and stressful at the same time. Whether you are upgrading to next year’s model or putting the old car to rest, buying another car can be a tough experience when you don’t know what to look for.

There normally are two options: buying new, or buying used. Buying new usually involves taking out loans, getting credit approved, and signing a lease for the next several years. While this process works for some, there are several reasons why buying a used car is better and easier financially in the long run.

Used Cars Are More Expensive For No Reason

While the phrase "you get what you pay for", normally rings true, it is not always so when buying a new car. The price of a new car is inflated tremendously compared to used cars, even in just a few years difference. When looking at the cars side to side, there is hardly a difference to constitute thousands of dollars in price, so why buy new, other than to have the latest and greatest for show.

When comparing the features between model years, there usually are only minute differences in trim or design. It is a safe bet to say that used cars still contain these features, just without the flashy, extraneous options of a new car. A used car will run a fraction of the price for just as much car. Another factor to consider is insurance. The cost of insurance for a brand new car is more than any other comparably priced vehicle.

It is much cheaper to invest in a cheaper, used car, paying less money for the car itself and for insurance over the next several years. When looking for a vehicle, dealerships like Milton Ruben Toyota have a large selection of certified used vehicles fit to save you money and provide you with safe transportation.

Used Cars Have More Documentation

Most manufacturers guarantee their new cars to be almost flawless and lack problems in the warranty span, but a new model year vehicle with different options has a different formula for how the vehicle operates. It may undergo rigorous testing in the factory, but it is unknown what problems it will obtain in its span of life. Used cars have had their problems documented over time, and people have been trained in ways to recognize potential problems before they come.

Cars will eventually need servicing, whether it is new or used. It is safe to say a used car has more actual usage information on it than a new car. After the warranty runs out on a new car, the repairs are much more expensive than older cars, due to the new technology used on the car. It is wiser to invest in a less expensive, older vehicle, and spend the required money to bring the vehicle up to appropriate maintenance standards.

Used cars are an excellent way to save money in daily finances. The cost of insurance combined with new car payments can sometimes be overwhelming. Shopping used can save you money in the beginning and in the long run of your vehicle ownership.