So, you’re in the market for a new (or at least a ‘new-to-you’) vehicle but are unsure as to which option is the best one for you. Ultimately it comes down to understanding the pros and cons, acknowledging if you don’t and, if needed, finding a resource to help.
But that’s probably why you’re here. The simple fact is that we’re big fans of buying pre-owned vehicles, simply because it’s a smart investment for so many people, regardless of budget or geography. When shopping for used cars, drivers tend to explore the same benefits as drivers from Cambridge.
Enable customers to get more car for their money. This is due to the previous owner shouldering the majority of the vehicle’s depreciation within the first 3-5 years. This depreciation means that you might afford a make, model or trim level that would otherwise be outside of your budget.
- Increased selection of makes, models and trim levels to choose from.
- Lower front-end and incremental costs, such as Tax, Title, and Insurance.
- Availability of Certified Pre-Owned (CPO) programs that provide added assurances.
- That said, these are just bullet points worth taking into consideration.
While I wouldn’t normally rely on a video infographic prepared by a financial institution, the following link (offered by Bank of America) is actually a very straight-forward comparison of buying used versus new.
As it was wise to do, the video acknowledges the overwhelming amount of variables that could influence your decision one way or another. It recognizes that no two lifestyles, budgets or combination of the two are identical.
With that in mind, take the time to explore the unique demands of YOUR life, and of YOUR budget; explore the options that are available to you. And while you can always solicit the advice of others, remember that (ultimately) the most important voice to follow is your own.