Are you ready to upgrade your daily travels around Central Kentucky, including Elizabethtown, Louisville, Fort Knox, Lexington, Bowling Green, and more? Before acquiring your next vehicle, it’s important to consider several factors. One of the initial questions you might face is whether to buy a new or used car. At Herb Jones Chevrolet, we aim to help you make a smart decision by comparing the advantages of new vs. used cars. Read on to learn more.
New Car Benefits
- Modern Technology: Bringing home a new vehicle from Herb Jones Chevrolet means you’ll enjoy the very latest technology. If you’ve been driving an older model and desire a modern driving experience with touchscreen functionality, wireless device integration, and other conveniences, a brand-new model is the way to go.
- Improved Fuel Economy: Efficiency is crucial, and new vehicles offer the best fuel economy ratings. Manufacturers strive to compete and meet the expectations of drivers like yourself, ensuring you get the most out of every gallon.
- Complete Warranty Coverage: Investing in a new vehicle means you’ll receive the entirety of the new vehicle limited warranty offered by the manufacturer, providing peace of mind and protection.
Potential Setbacks of New Cars
- Costlier: Comparatively, new vehicles come with a higher price tag. Along with the purchase price, you need to consider taxes, higher insurance rates, and annual registration costs.
Used Car Benefits
- Budget-Friendly: When you choose a used or certified pre-owned vehicle from Herb Jones Chevrolet, you’ll enjoy significant cost savings. The sticker price is lower, resulting in lower monthly payments. Additionally, insurance rates for used vehicles are typically more affordable.
- Slower Depreciation: Used vehicles have already experienced most of their depreciation, meaning they lose value at a slower rate moving forward.
- Lower Risk of Negative Equity: With slower depreciation and lower borrowing amounts, used vehicles come with a lower risk of negative equity, ensuring you’re in a more favorable financial position.
Potential Setbacks of Used Cars
- Higher Interest Rates: While you’ll borrow less money for a used car due to the reduced price tag, it’s important to note that lenders often charge higher interest rates on used car loans. Consider this when setting your price range.
Compare New vs. Used Car Options at Herb Jones Chevrolet
So, is it better to buy a new or used car? Hopefully, this new vs. used car comparison has helped you make a confident decision. The team at Herb Jones Chevrolet is here to assist you with more car-buying tips and insights. Feel free to reach out or visit our dealership in Elizabethtown, KY to make a confident upgrade.