Saturday, March 24, 2018

New Car vs Used Car

"The value of a new car drops like a rock the minute you drive it off the lot!"

"Buying a used car is one scary thing to do!"

The age-old debate carries on.  But the times they are a changing.

Cars are no longer loosely screwed together buckets of bolts, and car dealers no longer wear plaid suits. Fact is, cars last longer than they used to; there's better materials, safer designs. And the "information age" has led to a more transparent car buying experience too.

If you spend enough time looking, you can find great deals on both new and used cars. But what really differentiates the two?
  • Is it the price?
  • That 'new car smell' perhaps?
In truth, there are many differences. The most obvious place to start is the mileage and condition of a used car vs. the never-used-plus-warranty condition of a new ride. Granted, you can save some coin by getting a slightly used version of the new car that you want. But you're not going to be able to pick the options, and you might not qualify for the complimentary maintenance programs that many car companies are now offering.

We could go back and forth on this all day, so let's just examine a few of the key arguments, and see if we can find a winner.