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New car or pre-owned vehicle?

You know the moment has come to replace your vehicle. It may not drive as well as it once did, maybe there’s a host of problems that keep coming back, or maybe your needs have simply changed. A question might arise then: should you turn to a new vehicle, or perhaps a pre-owned vehicle?

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This may seem like an odd question. In fact, many consumers already know what vehicle interests them, and usually, we start with a basic idea that determines whether our next vehicle is new or pre-owned. That said, there are some advantages to buying one or the other type of vehicle that we may have forgotten to consider.

For starters, the main advantage of a pre-owned vehicle is that it will be more affordable. This makes it possible in theory to buy a better equipped or more luxurious vehicle that will still be able to meet our budget. In return, the vehicle is not new and the warranty is already underway. So we’re a little less protected. There are however extended warranties offered by the majority of dealers that can add a little protection.

Another element to consider is depreciation. A new vehicle will lose a good portion of its value once you leave the dealership. With a pre-owned car, it’s not you who suffers this depreciation, but the previous owner. That said, one of the advantages of a new vehicle, besides the fact that you are the first owner, is that it can be leased. If you do not plan to keep your vehicle longer than three or four years, being able to lease it is interesting.

Ultimately, the decision will be made fairly quickly, but it can still be a good idea to evaluate all possibilities.

Thank you to Glenmore Audi for their help with this article.

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