New or Used: Which is Better?
Perhaps the biggest question to people ask themselves when buying a vehicle is “new or used?” Both have their pros and cons, but they’re aren’t quite equal. We’ve listed a few reasons below why one option is superior to the other.
Today we answer:
Should I buy a new or used car?
New Car Depreciation
You may have heard people say that “new cars lose half their value as soon as you drive them off the lot.” While the value lost isn’t quite that drastic, it is certainly sizeable. Technically, when you leave the dealership as the owner of a vehicle, that vehicle is now used, even if you’ve only gone to the nearest traffic light. As for resale value, very few hold a decent one. Even fewer appreciate value. Estimates put value depreciation at something like 46% over 4 years. Most stats suggest that car owners keep their cars for around 6 years. That means your new vehicle will be worth less than half of what you paid for it by the time you’re likely to sell it.
Used Cars are Cheaper
As a result of cars losing value pretty quickly after they’ve become used, you can get a mint-condition vehicle for thousands of dollars of less than their never-owned counterparts. Due to this, you can get higher trim levels on a model that’s only a couple of years older for the same amount or cheaper than new models at lower trims. If you don’t mind a car that’s seen some miles, then you can get a used vehicle for dirt cheap.
Warranties and Reliability
One of the things that new vehicles have always had over used ones is their superior warranties. Many new vehicles offer a 5-year/60,000-mile warranty, and the tiny or nonexistent warranties offered on used vehicle just can’t compare. That’s we decided to change that. Eligible vehicles that CrossPointe Motor Cars sells have the Pro-Certified Lifetime Warranty, which covers your engine, transmission, and drivetrain for as long as you own that CrossPointe car. There’s no time or mileage limit. Just coverage.
Come check out our expansive selection of high-quality, used vehicles.