Buying Used vs. Buying New

October 5th, 2018 by

filling out finance form

McKinney drivers in the market for their next vehicle want to find a great vehicle at a great price. But you also need to consider what fits your budget and fulfills your automotive needs. The question becomes finding out what is right for you: buying used or buying new? Each car buying path has it’s ups and downs, so it benefits you to quickly go over what each entails. Here are some things to keep in mind when getting ready to purchase your next vehicle.

Buying New: Pros and Cons

  • Pros
    • More flexibility on options, trims, and specs
    • Will always have the newest and most advanced technology
    • No worries about prior ownership damage or neglect
    • More incentives when purchasing, and straight forward pricing
  • Cons
    • Higher outright cost
    • More sales tax
    • New vehicles depreciate more quickly
    • Any potential problems may be undocumented at time of purchase

Buying Used: Pros and Cons

  • Pros
    • Less cost up front
    • Initial depreciation period has passed
    • Sales tax, insurance, and interest will generally be lower than a new vehicle
    • More information available; issues and problems have been accounted for
  • Cons
    • Warranty coverage not guaranteed
    • Features, trims, and specs aren’t as flexible
    • You get what you pay for
    • Vehicle value differs for each model

The Bottom Line

The deciding factor when looking at buying new vs. buying used comes to down to you, the Dallas driver. You have to factor in your financing options, available budget, and needs. Though these general tips are great guidelines, every individual has different wants and needs when purchasing a vehicle. Find what works best for you!

Find Your Next Vehicle at Town North Mazda

When you’re ready to make the next step towards your next vehicle, come visit our dealership in Richardson. We’ll talk you through financing options and all of our available deals. If you have any questions before visiting, feel free to contact us today!

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