Is it Better to Buy a New or Used Car?
Is it better to buy a new or used car for your future travels? When comparing new vs. used car models at Klamath Falls Honda, there’s no right or wrong choice. However, there are advantages and disadvantages that are well worth your research – and we’re here to help. Get to know the key differences between the new vs. used car inventory, and get one step closer to your next vehicle at Klamath Falls!
New vs. Used Cars: What are the Differences?
New Car Advantages
- Newest Technology: Want the latest and greatest automotive technology? Buying the newest model ensures that your car is state-of-the-art, so no need to worry about out-of-date software.
- Greater Fuel-Efficiency: Modern automakers have moved away from V6 and V8 engines and toward turbocharged motors, which deliver better fuel economy without sacrificing power.
- Full Warranty Coverage: New vehicles come with a full warranty plan, which includes bumper-to-bumper and powertrain warranties that cover most of the car’s components. That means you can travel Grants Pass with peace of mind.
New Car Disadvantages
- More Expensive: Newer cars are more expensive to purchase, and that higher sticker price leads to higher registration fees and sales tax as well. The premium technology in new cars can also be more expensive to maintain after the warranty period than a lower-tech used model.
Used Car Advantages
- More Cost-Effective: Used cars are one of the best options for the budget-minded shopper. Not only will you save money on the sticker price, but also everything from insurance to taxes.
- Slower Depreciation: New cars start depreciating the moment they leave the lot, but used cars depreciate slower. That means your car retains its value much better over the years.
- Less Chance for Negative Equity: There’s a term called “negative equity”, which means you owe more on the car than it is worth. This can happen in the case of a lost or damaged car. Because used cars are less expensive, you’re far less likely to deal with negative equity than a new model.
Used Car Disadvantages
- Higher-Priced Financing: Sometimes lenders charge higher interest rates for used car loans, which can drive up the price of your monthly payments. But since the loan amount is lower, the loan term is usually shorter – so it’s still a good deal.
Start Shopping with Klamath Falls Honda Today!
Still have questions about new vs. used car models? Contact us, and we’ll help you determine “Is it better to buy a new or used car?” You can also stop by our showroom in Klamath Falls to see models up close and get behind the wheel, and learn more car buying tips from our experts!
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