Should I Buy a New or Used Car?

Many Round Rock drivers ask themselves, “Should I buy a new or used car?” There are plenty of arguments to be made about buying new vs. used car models, so it’s important to think about your personal priorities. In this guide, we’ll walk you through the new car vs. used car pros and cons to help you determine your best option.

New vs. Used Car: Pros and Cons

New Car Pros

• Newest Technology: One of the biggest differences between buying new vs. used car models is the technology. New cars have access to the very latest technology in Cedar Park, and older cars can become outdated quickly.
• Greater Fuel Efficiency: Newer models also prioritize fuel efficiency, including many EV and hybrid options.
• Full Warranty Coverage: Another major advantage between buying new vs. used car models is the warranty package. New cars include a bumper-to-bumper and powertrain warranty, so you can protect your investment.

New Car Cons

• More Expensive: New cars are more expensive up front, but also the high-tech features and subscriptions can be more expensive to maintain.

Used Car Pros

• More Cost-Effective: Budget-minded customers in Georgetown will appreciate the lower price on both used and certified pre-owned models. This price saving extends to everything from auto insurance to taxes to fees.
• Slower Depreciation: New cars depreciate very quickly, so you’ll enjoy much slower depreciation from your used model.
• Less Chance for Negative Equity: Negative equity, or being “upside down” on your loan, occurs more frequently on expensive purchases. If your car is lost or irreparably damaged, you have far less likelihood of falling into these categories.

Used Car Cons

• Higher-Priced Financing Used cars have trade-offs when it comes to financing. Your overall price is lower, which means lower monthly payments, but the interest rate is often higher on used models.

Explore New Car vs. Used Car Pros and Cons with Nyle Maxwell Chrysler Dodge Jeep Ram

So, should I buy a new or used car? The answer is up to you, but the team at Nyle Maxwell Chrysler Dodge Jeep Ram is happy to help you through the process. Contact us with questions about our new vs. used inventory, and feel free to stop by our dealership in Austin. We can take you on a few test drives and introduce you to our financing experts, so get in touch today!