Should you buy a new car or opt for a used car? It's a question that countless car buyers ask themselves when it's time to buy another ride. For such a straightforward question, there isn't a single, simple answer. The decision to buy new or used depends on a broad range of factors, including your day-to-day needs, personal preferences and, of course, your budget. Consider the following as you shop for your next vehicle.

Upfront Cost

The decision to buy a new or used car has plenty to do with your budget. Used cars are the obvious choice for anyone in search of a quality ride, but at a more affordable price. But that doesn't mean used cars are always the answer for buyers on a tight budget.

Look at any dealership lot and you'll discover there are plenty of deals to be had on the latest new vehicles. Factory rebates and incentives can easily knock hundreds or even thousands of dollars off a new vehicle's MSRP. If you're a college student, servicemember or a member of a pre-approved affinity group such as a business organization, club, fraternity or sorority, you could receive additional discounts and rebates.

Warranty

Another major advantage of buying a new car over buying used is the warranty coverage. Bumper-to-bumper and drivetrain warranties are standard for new cars, with most manufacturers offering anywhere from 3 years/36,000 miles to 10 years/100,000 miles or more of factory coverage, whichever comes first. You can expect your new car warranty to cover the cost of repairs or replacement stemming from defects or unexpected wear, so long as it falls within the bounds of your warranty coverage.

By the time a used car hits the dealership lot, chances are its factory warranty has already expired. Some dealers may offer a limited warranty that covers a limited number of components for a short amount of time - sometimes as short as 30 days from the date of purchase. Aftermarket warranties are another option, but in addition to the yearly costs, the warranty itself may be more restrictive in what it covers compared to a factory warranty.

Features

Whether you're a tech junkie or just someone who likes having the latest in modern features, buying a new car is a surefire way to enjoy the latest that automotive technology has to offer. Driver-assistive features like adaptive cruise control, collision avoidance and lane departure warning are now commonplace on nearly every modern vehicle. You'll also find convenience features like wireless charging, smartphone connectivity and heads-up displays on the latest vehicles.

The number of features you'll get from a used car is highly dependent on the make, model, trim level and, most importantly, age. While a year-old used car may have all of the modern features you want, the same can't be said of a 10-year-old car. Even if you find one that's loaded to the gills, it still may be missing a few features that can only be found on new vehicles.

Reliability

For the most part, buying a new car also guarantees that you'll have a reliable ride. This doesn't mean that new cars are completely immune to unexpected repairs, but you'll have greater peace of mind for as long as you own and maintain it, especially when buying from brands with a strong reliability track record like Honda. 

If worries about reliability scare you from buying a used car, don't worry. Used Hondas are some of the most dependable vehicles on the used market with plenty of examples going well over 200,000 miles with regularly scheduled maintenance. You can also buy a low-mileage certified pre-owned car that's been put through a rigorous inspection process and backed by a comprehensive warranty of its own.

Depreciation

Here's the elephant in the room you just can't ignore. Cars start losing their value the moment they roll off the showroom floor, with the average new vehicle losing 19 percent of its value in the first year of ownership. Depreciation can be a bitter pill to swallow, depending on the type of vehicle you purchase. Some vehicles do a better job of holding their value year after year than others, especially if they're reliable and/or high-demand vehicles.

Depreciation matters if you plan on trading in your newly-purchased car within the next 3 to 5 years, but less so if long-term ownership appeals to you more. By the fifth year of ownership, most cars would have lost upwards to 60 percent of their initial market value. The longer you own your car, however, the less likely you'll be worried about the effects of depreciation. Its trade-in value may be low, depending on the type of car and its level of demand, but you'll still be able to recoup some of that value by selling it to a private owner.

Buying used largely takes depreciation out of the picture, as the previous owner has already taken the initial hit. As a result, a lightly used vehicle often costs thousands less than a brand-new vehicle, even of the same model year. 

Contact

Glockner Honda

2867 US Route 23
Directions Portsmouth, OH 45662

  • Sales: (888) 325-8223
  • Service: (740) 354-3255
  • Parts: (740) 355-2639

Hours

  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 5:00pm
  • Sunday Closed