Is it Better to Buy a New or Used Car?

Is it time to purchase a new vehicle to drive around Atlanta and the surrounding areas? Should you buy a new or new-to-you model? Is it better to buy a new or used car? The answer depends on factors such as your budget and what you are looking for in a vehicle. Review our new vs. used car guide today to get a better sense of what’s ideal for you right now. The team at Gwinnett Chrysler Dodge Jeep Ram is here whenever you decide to test-drive a new or used model in Stone Mountain!

New vs. Used Cars: What are the Differences? 

New Car Advantages

• Newest Technology: Buying or leasing a new car gets you access to the latest and greatest technology from whatever brand you choose. Automotive technology updates frequently, and a vehicle that’s even a few years old can be considered technologically outdated. 
• Greater Fuel-Efficiency: In today’s automotive market, achieving impressive fuel-efficiency ratings is a goal for most automakers. Today’s vehicles feature fewer V6 and V8 engines, as they’re being replaced with turbocharged motors that are designed for greater fuel economy. 
• Full Warranty Coverage: Most new vehicles come protected by bumper-to-bumper and powertrain warranties that cover most of the car’s components for a certain amount of years and miles. 

New Car Disadvantages

• More Expensive: New cars are much more expensive to purchase than used and certified pre-owned vehicles, and you can expect to be taxed on the price you pay. What’s more, once the vehicle’s warranty coverage expires, you’ll likely find that your car’s state-of-the-art technology is expensive to repair and maintain. 

Used Car Advantages

• More Cost-Effective: Buying a used car is a good way to save money; you’ll save money when you purchase from the dealer, buy auto insurance, and pay taxes. 
• Slower Depreciation: The value of a new car begins to diminish the moment you leave the dealership. In fact, a large portion of a car’s value is lost in the first few years of its lifespan. Used cars have already taken this initial depreciation hit, and lose value much more slowly as they continue to age. 
• Less Chance for Negative Equity: Negative equity is when you owe more on your car loan than what the car is worth. So, if the car is lost or irreparably damaged, you may get stuck paying on the auto loan, even though you can’t drive the car. When you finance a used car, you’re likely to have a smaller car loan, so it’s less likely that you’ll end up “upside down” on the loan. 

Used Car Disadvantages

• Higher-Priced Financing: Lenders tend to charge higher interest rates on used-car loans, which leads to higher monthly payments. On the flip side, the price of the vehicle will be lower, so the loan term will also be shorter. 

Why Shop with Gwinnett Chrysler Dodge Jeep Ram?

At Gwinnett Chrysler Dodge Jeep Ram near Alpharetta, you’ll find a wide selection of new Chrysler, Dodge, Jeep, Ram vehicles, as well as high-quality used cars. Whether you’re interested in a new or pre-owned vehicle, our sales team will help you find the ideal match for your budget and lifestyle. Our finance team will work side-by-side with you, whether you’re looking to buy or lease a brand-new car or secure a used-car loan with a shorter loan term. To get started, you can apply for financing online or use our payment calculator to estimate your monthly payments. 

Start Shopping with Gwinnett Chrysler Dodge Jeep Ram Today! 

Is it better to buy a new or used car? It depends on what you need! Contact us online or via (678) 566-5703 today to test drive the new, used, or certified pre-owned vehicle of your choice. If you have any questions about our new vs. used car guide, our team is here for you! We look forward to streamlining your buying experience and ensuring you drive off into the Snellville sunset happy. For more informative reads, review how car financing works and how to refinance a car loan!