Is it Better to Buy a New or Used Car?

If you’re looking to upgrade your ride, you might be debating a new car vs. a used car. While neither type of car is better than the other, you’re probably wondering which would be an ideal fit. So, is it better to buy a new or used car? In the following guide, the experts at Dick Hannah Chrysler Dodge Jeep Ram explore which makes the most sense for your Portland drives. Learn about both the advantages and disadvantages and compare new vs. used car models!

New vs. Used Cars: What Are The Differences? 

New Car Advantages

• Newest Technology: Whether you buy or lease a new car, you gain access to the latest automotive technology from your Chrysler,Dodge,Jeep,Ram vehicle in Gresham. Automotive technology is continuously updating, and cars that are a few years older can be considered technologically obsolete. 
• Greater Fuel Efficiency: In the modern automotive market, impressive fuel-efficiency ratings are the goal of most automakers. Today’s models feature fewer V6 and V8 engines, as they’re replaced with turbocharged motors; designed for greater fuel economy. 
• Full Warranty Coverage: Many new vehicles are protected by bumper-to-bumper and powertrain warranties that cover most of your car’s components for a certain number of miles and years.

New Car Disadvantages

• More Expensive: Newer cars are much more expensive to purchase than used and certified pre-owned vehicles, and you can be taxed on the paid price. What’s more, once your vehicle’s warranty coverage expires, you will find the car’s latest technology will be expensive to maintain and repair. 

Used Car Advantages

• Most Cost-Effective: Buying a pre-owned vehicle is a great way to save money when you purchase from our dealership, buy auto insurance, and pay taxes. 
• Slower Depreciation: Once you drive off in your new car, its value will begin diminishing. A large part of a new car’s value is lost in the first few years of its lifespan. When you choose one of our used cars, they have already taken their initial deprecation and will lose their value more slowly as they age. 
• Less Chance For Negative Equity: Negative equity is when you owe more on your car loan than its actual worth. So, if the car is lost or wrecked in an accident, you may get stuck paying on the auto loan, even though you won’t be able to drive the car. When you finance a pre-owned car, you are likely to have a smaller loan, so it’s less likely that you will end up in a negative equity situation.

Used Car Disadvantages

• Higher-Priced Financing: Lenders will charge higher interest rates on used car loans, which can lead to higher monthly payments. On the other hand, your vehicle’s price will be lower, so the loan term will be much shorter.

Why Shop with Dick Hannah Chrysler Dodge Jeep Ram?

At Dick Hannah Chrysler Dodge Jeep Ram, you have a wide range of new Chrysler,Dodge,Jeep,Ram vehicles, as well as high-quality used cars. Whether you want a pre-owned or new car, our sales team will help you find the right option for your needs and budget. Our finance staff will work with you; whether you buy or lease your chosen vehicle. Start by applying for financing online and use our payment calculator to estimate your expected monthly payments.

Start Shopping with Dick Hannah Chrysler Dodge Jeep Ram Today! 

Is it better to buy a new or used vehicle? The choice is entirely up to you as you compare new vs. used car models with us! Dick Hannah Chrysler Dodge Jeep Ram is the Vancouver dealership to choose. Our staff will spotlight our extensive inventories to show the wide range of choices for your next drive around Beaverton. Also, browse our new car and pre-owned specials for great savings. Find your next car with Dick Hannah Chrysler Dodge Jeep Ram in Vancouver!