New Vs Pre Owned vehicle, which one is right for you?
Often times when we search for our next vehicle it usually begins with a simple question. New or used (pre owned)? There are many different factors to consider, and unfortunately there is an overwhelming amount of opinions on the topic and those opinions can be very confusing. Such as "you lose (x)% of value as soon as you leave the lot" or " I always buy vehicles a couple years older so that I don't have to take the hit on depreciation" There are many more but I will save you the time. While these notions come from helpful sources with good intentions they often times end up being nothing more than hindrances and headaches in your quest to put you dream in your driveway. So as "America's friendliest car salesman" I am going to set the record straight!
Updated features and Facelifts
Possibly the #1 reason to get a new car is, that the current generation of the vehicle you want is so far ahead of the previous generation of that vehicle that you would be missing out on too many upgrades. Let me give you an example: The Chevrolet Corvette has had many drastic changes over the years and ,recently has had the entire drive-train configuration changed. This is one of the many changes that has been made to the Corvette. What I am referring to as drive-train is the engine and transmission. For years the Corvette has had the engine in the front and the transmission right behind it. With the current generation the engine and the transmission"drive-train" are located to the rear of the vehicle. That is important to know because if you are in the market for a Corvette, the previous generation although just a few years old is a drastically different experience than the current generation. That holds true for every vehicle. Make sure you do your research on these things before you visit the lot!
Same features/generation
Piggy backing off of the previous paragraph. If the vehicle you are looking for has had a generation change a couple of years prior, then it is probably a good Idea to get a pre-owned one. Example: The Gmc Sierra has undergone a facelift/generation change in 2019. It is now the middle of 2021. There are currently no plans for a generational change in the near future. If you can buy a slightly used vehicle in the same generation for a Significantly lower price, then congratulations you win! However it is rarely that simple
Incentives!
What if you can get a brand new vehicle for the same money or even less than a pre-owned one? But Julius how? It's simple it's called incentives. I know we have all seen commercials for cars that talk about some sort of bonus cash, rebates,etc etc. Those are incentives and the automotive industry likes to occasionally "incentivise" new vehicle ownership. Usually it is anywhere from $500 to $1,000 from the manufacturer and then an additional $500 to $1,000 from the dealership. Example: I remember one of the first vehicles I sold was the 2018 Buick Encore it was a $24,000 vehicle going for $14,500 after rebates and incentives. At the time if you wanted a pre-owned one you would have to pay $18k+ because the preowned one didn't have incentives attached to it. This is a special case. Usually a new vehicle in the same generation will either be the same price or slightly higher. The pre-owned vehicle in these cases is often the better buy, because it is less money and usually has a better warranty(certified).
Recap!
When it comes to New vs Pre-owned the choice is rarely simple. Pre- owned vehicles can be great buys if you can get them for significantly less and if it has the features you want. When compared to the New one. New cars can be great buys if there is a generational change or/and if there is are incentives! In closing ,find the right vehicle with the features you want, be open to the thought of new vehicle ownership at a competitive price. Be open to a pre-owned vehicle of the same generation with a lower cost and in most cases (certified) warranty!
As always if you have any questions comments or concerns please feel free to leave them below or reach out to us directly at sales@drivewithjulius.com God bless you and have a wonderful day!