Should You Buy a Used Car?
Buying your next car represents a significant financial investment for most people. You want to have a vehicle that can handle the rigors of your commute, will last you for a long time, and is worth the money. One of the first questions you should consider and answer revolves around the debate of getting a new or a used car.
Pro: The Price
It’s the age-old question—should you buy a used car? Compared to a new car, purchasing a used car has its perks. However, it’s essential to consider both the pros and cons when you consider buying a used car. Let’s take a look at some of the benefits and drawbacks that used cars offer.
Pro: The Price
One of the biggest obstacles when buying a new or used car comes down to the price. New vehicles tend to have larger price tags that require large loans and more significant down payments to get you behind the wheel. Used cars tend to come with lower prices. When you choose to buy a used car, the investment proves a definite money saver. The lower price point and the more manageable loan terms can help you better preserve your financial health and keep more money in your pocket.
Con: Past Wear and Tear
One of the most significant benefits of a new car is that no one else has used it, so you know that everything should be in good condition. With used cars, you have a higher degree of volatility when it comes to the car’s condition. Used cars are more likely to have increased wear and tear. You have to take a leap of faith that the previous owners took good care of the car, took it in for regular maintenance, and didn’t get into potentially compromising accidents. Knowing that a used car will come with a history and potential underlying problems, having a reputable dealership to work with becomes vitally important during the negotiations. At Faulkner, a whole section of our inventory is dedicated to Certified Pre-Owned vehicles, so you know that you can trust these used cars are up to the task.
Pro: More Negotiating Options
One of the biggest hurdles in any car purchase revolves around closing the deal. Usually, you only have so much wiggle room to haggle on the price and find more agreeable terms to get the best value. However, buying a used car usually gives you more options and room to negotiate. Due to the potential for a used car to have more damage or extensive accident history, you might be able to negotiate the price of your vehicle more effectively than if you were buying a new car. Using services like CarFax can help you learn more about the vehicle in question and strengthen your negotiating position.
Con: Expired or Non-Existent Warranties
Used cars usually don’t include warranties. Most used cars have this little sticker, meaning once you purchase the used car, the seller will not be held responsible for any problems or needed repairs after the fact. Chances are that the factory warranties have expired on the used car, but at Faulkner, we do offer extended warranties on certain vehicles, so even though we’ve listed it as a potential con, there’s a good chance you won’t have to worry about it when you shop here.
Pro: Smaller Loan Amounts
With new cars, the higher price tag usually means that you have taken out a larger auto loan to cover the cost of the vehicle. However, with used cars coming in at a lower price point, the loans you have to take out should be much more manageable. You can get pre-approved for an auto loan with us, and rest assured that you are getting the best possible rate.
There is no one-size-fits-all answer, and there are good reasons to buy used and good reasons to buy new! A leading auto sales company in Bucks County, the fantastic staff at Faulkner Buick GMC Trevose can help you with our GMC and Buick auto sales in Bucks County. Offering both used and new GMC cars in Bensalem, we can help you find the right choice for you. Give us a call today to learn more!