If it’s time to replace your current car, you might be asking yourself, “Is it better to buy a new or used car?” It depends on your budget and your driving goals. A lot of Morrisville drivers love that “new car smell.” On the other hand, some drivers want a reliable car for less — and that means going the used car route. What are the differences between new and used cars? Hendrick Cadillac Cary delves into their advantages, as well as what you should consider before buying new or used.
What’s the Difference Between New & Used Cars?
New Car Benefits
- Newest Technology: New cars boast the latest and greatest technology from whatever brand made the vehicle. Automotive technology updates constantly. While you can find a lot of exciting technology features in a used car, there’s a good chance that a brand-new car will offer more in terms of infotainment and safety.
- Greater Fuel-Efficiency: Fuel efficiency is a must-have feature for many car buyers. A newer car will likely be more fuel-efficient than a vehicle from 10 years ago, due to the growing popularity of mild hybrid systems, turbo engines, and CVTs.
- Full Warranty Coverage: New cars come with full warranty coverage. Certified pre-owned vehicles are special used cars that do offer warranty coverage, but they’re typically more expensive than standard used cars.
What to Consider About New Cars
- More Expensive: Naturally, new cars are more expensive than used and certified pre-owned cars, because they have no previous owners. Plus, once the new car’s warranty coverage runs out, many drivers find their vehicles wih the latest technologies are pricey to maintain.
Used Car Benefits
- More Cost-Effective: If you need a new car, but want to save money in the process, buying a pre-owned car might be a smart option. Used vehicles have lower asking prices and cost less to insure, because their overall values are lower.
- Slower Depreciation: After a new car is purchased and leaves the dealership, its value begins to diminish immediately. The value of a car depreciates considerably within the first few years of its lifespan. Used cars have already taken their initial depreciation hit, so their values depreciate much more slowly.
- Less Chance for Negative Equity: When you owe more on your car than what it’s worth, you have “negative equity.” If the car is totaled, for example, you’ll get stuck paying on an auto loan for a car you can no longer drive. This is less likely to happen with used cars. They’re less expensive, resulting in smaller car loans that are easier to repay.
What to Consider About Used Cars
- Higher-Priced Financing: Used car loans tend to have higher interest rates, leading to a higher monthly payment than you might expect. Still, the cost of the car will be lower compared to a new car. And, with larger payments, the loan term will also be shorter.
What is Good Mileage for Used Cars?
There are tons of used vehicles to explore in the Morrisville-area market. To ensure you make a smart choice, consider these factors:
- How was it used?: If a vehicle’s driving history includes 75,000 miles of stop-and-go traffic, it will probably have more wear and tear than a car that was driven 75,000 miles on open highways.
- Where was it driven?: A used car in Apex might have only recently made its way there. Always find out if a used car was owned and driven in any other region. Why? Climate can take a toll on a vehicle’s condition; cold, wet climates tend to be harder on a vehicle than dry, warm climates.
- What is the overall condition?: If you’re serious about a used vehicle, always bring it to a mechanic you trust before buying it. Your mechanic will let you know if there are budding mechanical problems, rust, etc. that need to be addressed. If you still want to move forward, you need to figure the cost of repairs into your budget.
- Maintenance record: Always request a service record and review it carefully before purchasing a used car. A spotty maintenance history can lead to serious problems in the future.
How to Determine Good Mileage for a Used Car
Since there’s no blanket answer to, “What is good mileage on a used car?”, how are you to determine whether a used car has acceptable mileage? We always suggest that you consider how many future miles you expect a car to offer.
Keep in mind, that the average driver clocks about 12,000 miles per year. With that in mind, you could buy a used car with anywhere from 50,000 to 100,000 miles logged, and still expect to see at least five to ten more years on the road. Of course, this also depends on your adherence to a routine maintenance schedule. These days, how long a car lasts is really up to the owner and how much time and money they want to spend on long-term upkeep.
Debating Mileage vs. Age
Good mileage for a used car is also partially dependent on how many miles the car has in comparison to its age. Sometimes, a newer car with higher mileage is a better purchase than an older car with lower mileage. Here are some things to consider if you’re debating mileage vs. age:
- A car that isn’t driven very often and also hasn’t been given routine maintenance is likely to garner loftier repair costs. A car that sits for long periods can get mechanical problems, as well as issues with rubber seals and gaskets.
- A used car with a proven maintenance record should always take precedence over a used car with no record or spotty service history.
- Low-mileage used cars are often certified pre-owned cars that come with special benefits like modern features, warranty coverage, and more. Thus, they also tend to be pricier than standard used cars.
What to Look for When Buying a Used Car
When you’re searching for a used or certified pre-owned vehicle, you may feel overwhelmed by the amount of options that are available to you. Most dealerships have a used car section, where you can find models from all sorts of brands. If you’re a first-time buyer, you probably have some questions and concerns about what you should be searching for. Here’s some steps for how to buy a used car from a Cary, NC used car dealer like us here at Hendrick Cadillac Cary:
- Set Your Budget: How much can you put down on a used car? How much can you pay every month? Set a car-buying budget that makes sense for your finances.
- Find the Right Used Car: In addition to budget, you’ll want to think about make, model, body style, and features. Narrow down your used car options, based on your needs and preferences. Used sites like Edmunds or KelleyBlueBook to browse reviews, browse ownership costs, and compare selling prices in your area.
- Test Drive & Inspect the Models: Finding the right used car for you can take some determination. Have the car inspected by a mechanic you trust, then take it for a test drive to get a feel for how it handles on Cary roads.
- Used Car Financing and Other Fees: After you’ve found the right used car for you, explore your loan options. Factor in other fees like state sales tax and registration fees. You’ll also want to factor in the trade-in value for your current car.
What to Ask When Buying a Used Car
One of the benefits of used-car shopping is the variety. It can also be a disadvantage, though, because you’ll need to weed out a lot of cars that simply don’t fit your finances or lifestyle. That said, it’s important to ask questions about any car you have in mind, so you can feel confident that you’re getting the vehicle you want.
- Are there any current recalls on the vehicle?
- How was the vehicle priced?
- Can I take the car to a mechanic for an inspection?
- Do you have the title in hand?
- Is the car as is, or is it under warranty?
- Does this vehicle affect your insurance premiums?
- Is there a history of maintenance?
- Is the vehicle history report available?
- Do the amenities and features work like they’re supposed to?
- What is the ownership history?
- What is the vehicle’s mileage?
Steps After Buying a Used Car
Even after you sign on the dotted, there are still steps you’ll need to take to ensure the most hassle-free ownership experience possible:
- Get Insurance: You can’t leave the lot in a car that isn’t insured. Make sure you get insured before you arrive at the dealership.
- Transfer the Title & Register the Car: When you buy from a dealership like Hendrick Cadillac Cary, we’ll handle the title transfer and registration for you.
- Choose a Mechanic You Trust: Finding a mechanic you trust can be difficult. Hendrick dealerships like Hendrick Cadillac Cary have state-of-the-art service centers that can keep your car running at its best.
- Schedule Service: Even if your new-to-you car has a documented service history, it may still need a few small repairs. Schedule a service visit for any necessary repairs!
- Review the Owner’s Manual: Take some time to learn more about your car by reading the owner’s manual. Learn how to use the cruise control and keyfob system, as well as what kind of oil your car takes.
- Check for Recalls: Keep an eye out for any recalls that might affect you. Service centers that specialize in your car’s make can perform the necessary recall repairs at no cost to you.
- Consider an Extended Warranty: Extended warranties come in many different varieties. Some warranties are only usable at certain service centers, so make sure you’re getting coverage that you can actually utilize.
Start Shopping for a Used Car with Hendrick Cadillac Cary Today!
If you’ve decided that a dependable used or certified pre-owned vehicle is the right choice for you, Hendrick Cadillac Cary has you covered. Browse our wide selection of used cars for sale in Cary, NC. Contact us online or call us at (919) 342-8209 to schedule a test drive near Durham. For more great used-car offers, browse our pre-owned vehicle specials today!
