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Not sure what to do when in need of a new vehicle? The choice to buy a new vehicle or a pre-owned vehicle requires some research. Drivers know with a new vehicle, they can expect a longer shelf life versus a used vehicle. For those thinking about wanting to replace their current vehicle? We know there’s a choice to be made and soon. Let’s get into the entire discussion and highlight the pros and cons of either decision.
New Vehicle or Pre-Owned/Used Vehicle?
Older vehicles are often a mystery to figure out - usually new owners are curious about how the previous owner treated the vehicle and if they will have to account for any lack of care. That is not the case for a new vehicle, as the original driver will be able to make sure they are on top of any maintenance needed to keep the vehicle running well. Plus, nothing is more fun than being the first owner of a brand new ride. It’s quite a great feeling!
What Kind of Car Purchase Should I Make?
Paying for a car, new or used, is not a small decision. Unless a driver is going to put a big chunk of money down on the car, the payments that follow a purchase could certainly be more than most wish to pay when paying off a new vehicle. But don’t worry, when buying a new vehicle, car owners can find very low-interest loans (good credit withstanding). This way, paying for the purchase price value of a new car means interest will only increase the amount a small bit, and in some cases, giving up rebates for a low-interest loan can mean paying less in the long run.
Once the vehicle is paid off, drivers can sell a vehicle and put all that money in their pocket or toward another new car. Owning a car is the gift that keeps on giving. And what if someone wanted to lease a car? NowCar offers the flexibility to do so and has the option to gain a new vehicle much sooner than most drivers do when they own a vehicle. While purchasing a used car might cost less than buying or leasing a newer car, there’s no guarantee that the used vehicle won’t have its issues either disclosed or undisclosed in the case of a private party selling the vehicle.
How About A Pre-Owned Vehicle?
Those that have an older vehicle know the struggle to keep an older vehicle running. Many issues can arise and some can be expensive. Since buying or leasing new vehicles come with a great feeling of being the first driver, there’s also a smaller chance to avoid any expensive repairs early on. Driving a vehicle that is covered by a limited basic warranty and a limited powertrain warranty also helps, which most pre-owned vehicles, especially over 100,000 miles, won’t carry any reasonable coverage. That’s a huge negative for most drivers looking to get into a used vehicle.
Avoiding a used vehicle is simply easier for most in terms of practical decisions. Being the first owner, knowing the warranty is sound and getting all the latest amenities are huge reasons for getting a new vehicle. But what about those that don’t have thousands of dollars to buy a vehicle outright or put down a hefty amount for a down payment? Luckily, NowCar has options.
Buy or Lease New?
A large down payment is not required for many lease deals. While there is a requirement of some form of down payment, there are options that make leasing more attractive, and leasing a car can be the best way to go if a driver wants a low monthly payment. Hoping to stay in a current vehicle for a decade or more? Some have a preference for driving more modern vehicles. Lease contracts are typically only 24, 36 or 3948 months, so that means every two to four years, a lessee turns in the vehicle they’ve been leasing for an entirely new brand and a vehicle that has all of the latest vehicle upgrades and new technology.
Make the Choice That Makes The Most Sense
At the end of the day, we know drivers want to take pride in keeping their car in great shape. That’s the additional value in owning a new car versus an older vehicle that might come with some dents and dings. Maintaining a vehicle for a long time is hard, but starting with a new vehicle from the beginning helps make taking care of it easier since the driver will be able to keep track of all expenses. Those repairs are significantly less likely to come with a new vehicle.
Hoping to save money in the long run? Keeping a vehicle for longer than a decade or the amount a driver will spend on several leases in that same span can be less than repeatedly buying older vehicles and trying to maintain them. Of course, buying or leasing means new vehicles every so often and what’s so bad about paying a little over in the long run to have the newest technology and a modern ride versus always owning an older vehicle? The choice is not ours to make, but we know how to help those ready to drive a new vehicle at NowCar.
Side With NowCar Today
We offer a hassle-free car shopping experience for our customers. No dealership fees, always open to view and select the right model and no delivery fee with NowCar. This is the NowCar experience. Check out how we can help today.