New or Used Cars – What are the Major Differences?

One of the most important choices facing auto shoppers is whether to buy a new or used car. For some, the latest features in new vehicles can be a major pull factor, whereas others may not be able to resist the allure of “bargain” prices of used models.

For most people, the biggest difference between buying a used car and new models often comes down to cost. Certified pre-owned vehicles typically cost less than brand new cars.

But their lower sticker price does not necessarily mean they’re cheaper to maintain. Advances in auto tech like intelligent cruise control or continuously variable transmissions may mean a new car is cheaper to fuel than a previously used model.

Also, some used cars lack extended warranties, and as a result, may cost you more in maintenance than new models. That being said, used cars generally have less insurance rates than new cars because of their lower purchase price.

If you want to save money on car purchases without compromising the value you get, Spitzer Chevy North Canton in Ohio can be a good place to start your journey into buying a used car.

A Cheaper and Reliable Option

One of the top benefits of buying a used car is that doing so saves you money. On average, previously owned vehicles cost 50 percent lower than new models, meaning you’ll be able to clear your monthly payments sooner if you procure the car through our various financing options.

Buying a used car enables you to avoid depreciation, as new cars depreciate the minute you drive them off the lot. A new car will lose around 48 percent of its value over five years, according to Consumer Reports. By the time you acquire the vehicle, the bulk of depreciation might have already occurred. This means you would be able to sell the car for nearly the same amount you paid for it somewhere down the road.

Also, you can save a thousand dollars in annual registration fees when you buy a used car. This is because the registration rate is highest in the first three years of the car’s life. Another benefit of buying a used car is that you enjoy lower insurance rates.

Enjoy the best of Both Worlds with Certified Pre-Owned Vehicles

If you’re fortunate enough to get a certified pre-owned vehicle when buying a used car, you will get the best of both worlds – a manufacturer-backed warranty while still avoiding depreciation.

Certified pre-owned vehicles are gently used cars that have undergone a thorough inspection and reconditioning. These vehicles also come with a factory-backed guarantee, which makes them the closest thing you can get to a new vehicle.