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March 25, 2014

4 Questions to Help You Decide on a New or Used car

When looking to buy a car, you should think about your options. In fact, you should consider buying new or used. Both these options are great for a buyer. However, this will largely depend on your income, needs and wants. With that being said, you cannot go wrong with used or new. Here are four questions to help you decide on a new or used car.

Will I finance? If you want to finance a car, you should consider buying new. Think about it, when you see the really low financing rates available for buyers, they are usually for new cars and not used. In fact, some American automakers will offer zero percent financing for the life of the car. This is hard to beat and can make it easy for a buyer to justify investing in a new car. On the other hand, if you plan to pay cash, you should look at pre-owned options as you can find a great deal from either a dealer or private party seller. Without a doubt, before taking this step, you should check your credit score as this will allow you to go ahead as needed.

How long do I want to keep the car? If you plan to buy a vehicle and keep it for five or more years, you should consider new. Remember, new vehicles now have so many safety features and will last well beyond five years. Of course, if you buy slightly used, you can get a great deal and still see your car last a long time. Either way you look at it, you should proceed only once you know how long you want to keep the automobile.

How much do I have? Let’s face it, if you plan to buy a new or used automobile, you will spend some serious cash. Of course, if you buy an older model car, you can get away with spending a few grand. With this though, you will have to spend more money on maintenance and repairs. When financing and buying new, you can enjoy low monthly payments; however, with a new car, you will still have to make payments for years. Finally, when thinking about how much you have and how much you want to spend, you should think of other costs like insurance, gas and maintenance.

What will I use the vehicle for? Now, if you want to drive to and from work on a short commute, you should look at a pre-owned car. If you plan to take your family on vacations and want to ensure their safety, you must look at new cars. Without a doubt, this is a huge step to take as you will want to find the best vehicle for your unique needs.

When looking to buy a new or used vehicle, you can find the perfect balance. But, with that being said, it is wise for you to think of your wants and needs both in the short and long run as this will help you make the best decision.

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