Talking about cars this week and the next logical topic that comes to mind is to buy – new or used?
There are merits to both; and there are drawbacks, too. I don’t think that there is a right answer.
I’ve done both. Regrets and satisfaction, depending on the car…
While new cars are fabulous, they cost more money and they depreciate really quickly. That amazing new car smell…it goes quickly, too; especially when your kids decide they want to live in the car ’cause it’s so cool. (Yes, even though it is a mini-van.) Plus, the haggle, the debate over the price and features included are beyond annoying. But… there is nothing like knowing that no one else has driven it farther than a test drive.
Used, or “pre-owned” as I should say…can be fabulous, too. You can find that model that was discontinued by the manufacturer, save some money and if you do it right, still get a great warranty to protect you in case it has a major part failure. It’s also already been depreciated, so – theoretically – you pay what it is worth.
But there is always a doubt on some aspect of the purchase: will the car have unforeseen problems? will the warranty be enough? (Arguably both of these could happen with new…) How about – will it smell funny in the summer heat? will it leak when it rains or you go through the car wash? And – above all – why do I have to pay a higher interest rate on a used (ahem, pre-owned) auto loan???
Then…if you do go pre-owned, dealer or independent seller???
I wish you the best, when you think of all the pros and cons, for you – new or used – there is no right answer, because the worth, the value, is in the eye and the mind of the buyer. I think I know my next one will be…oh, I’ll let you know, because right now, there are no plans for something “new” (to us.)
~ Dawn aka Hat Girl