Are you having a hard time deciding on whether to get a new or used car? If you are, here are a few pros and cons to help you make a decision.
New Cars: Pros and Cons
Luxury
You are the first owner of the car and you get to experience the luxury of buying a brand new car. A new car also means that the car hasn’t been in any accidents and the quality of the car is exceptional. You don’t need to worry about wear and tear or any other mechanical repairs.
Safety
New cars come with modern safety features that used cars might not have. The improved safety features include AI and other computer technology that make your driving experience even more worthwhile. If you are looking for rear-view cameras, parking assist, cruise control and other monitoring systems, then a new car is a good choice for you.
Fuel-Efficiency
New cars also come with better fuel-efficiency technology that can help you save on your monthly fuel expenses. For example, new cars often have an ‘ecos’ function that lets you drive across cities without using a lot of fuel.
Environmentally-Friendly
Newer cars like hybrid models and electric vehicles help the environment by limiting carbon emission levels. This is a great reason to purchase a new car. In addition, purchasing environmentally-friendly cars comes with government incentives. Canadian buyers have the opportunity to earn back tax credit up to the value of almost $8,000.
Cost
One of the biggest cons of new cars is their price. New cars are a lot more expensive than used cars and this is a big reason why people tend to opt for used cars.
Used Cars: Pros and Cons
Cost
Used cars are a cheaper choice and they are often still in great condition. You also have a lot of car finance options available to you. If you are trying to stick to a budget, then a used car is a good choice for you.
Slower Depreciation
New cars depreciate at a faster rate than used cars – approximately 20% from the second it has been driven.
Reduced Costs
Used cars let you pay reduced insurance fees. This is because the value of your car plays a huge factor in determining how much your monthly insurance instalments will be. Your registration fees will also be lower because this fee is also determined by how much you paid for your car.
The type of car you choose to get depends on your financial situation, lifestyle and budget. You’ll need to think about the pros and cons and choose a car that best suits your current and future circumstances. If you are looking to a buy used car, then look no further! CRS Automotive offers great used car deals. We have a 13,500-foot dealership in Cambridge, ON and a great team of highly-skilled and professional dealers. If you want to drive home with your dream car, then contact us today!
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