5 Smart Financial Reasons to Buy New, and Not Used

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Megan Foukes is a recent graduate from Indiana University who graduated with a bachelor’s in journalism. Megan works as a content writer for Auto Credit Express and contributes to several automotive and finance blogs.


, - October 31, 2018

Buying a new car is exciting. You get that new car smell, and the pride of owning an untouched vehicle. But new cars can come with a big price tag, and you may be wondering if you should buy a new vehicle, or opt for something used. Although many consider buying a slightly used car to be a better value, new vehicles do come with some financial benefits that used cars aren’t able to match, and may be worth considering if you value these features.

Is Buying a New Car Really a Bad Deal?

While it does cost more to buy a new car, what you get out of a new vehicle can be worth the extra cash. If you’re looking for cars with the latest advanced safety features and technology, and love the new car feel, buying a new vehicle can be a great option. Ultimately, it depends on what you’re looking for, and if you can afford a brand new car.

New cars have some benefits you don’t find when buying used:

  1. Fuel efficiency – Newer cars have better fuel economy. With gas prices changing often, you save money with a new vehicle with improved fuel efficiency.
  2. Fewer repairs needed – Newer cars typically have a higher reliability rating than used vehicles. Plus, new cars rarely need major repairs. You simply need to keep up with regular maintenance.
  3. Warranty coverage – New cars come with a manufacturer-backed warranty that covers the first few years or a certain number of miles of ownership. So, if your vehicle does break down or needs extensive repairs, you can expect the coverage to cover the cost.
  4. More deals and offers – New cars sometimes come with better interest rate offers, and other incentives such as cash rebates, that you can’t get with used vehicles.
  5. Resale value – Depreciation kicks in right away, but if you plan on trading it in down the road, its resale value should be better than an older used car with multiple owners.

Remember, other than the cost to finance, new cars are relatively inexpensive to own. Make sure you weigh all options – new and used – before moving forward with the car buying process. You can explore this month’s latest new car deals and get an estimate of what your monthly car payment can buy.

Looking to Buy a New Car?

If you’re in the market for a new vehicle, but worry your credit is in the way, let CarsDirect help. We work with a nationwide network of dealers across the country that specialize in helping borrowers get the financing they need. Get started today by submitting our free, easy, and secure car loan request form.

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Megan Foukes is a recent graduate from Indiana University who graduated with a bachelor’s in journalism. Megan works as a content writer for Auto Credit Express and contributes to several automotive and finance blogs.


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