New vs used car, or are you hearing about Certified Pre-Owned cars lately?
Deciding on your next car can feel like a monumental decision. Should you splurge on a brand-new model, save money with a used car, or explore the often-overlooked Certified Pre-Owned (CPO) market?
Each option has its own perks and drawbacks, but understanding them can help you make the best choice for your lifestyle and budget.
In this article, we break down the pros and cons of new, used, and Certified Pre-Owned cars, share some questions to ask yourself when looking for a trustworthy pre-owned dealer, and even reference a handy tool like State Farm’s new vs used car calculator to guide your decision.
New vs Used Cars, vs Certified Pre-Owned: The Basics
Let’s start by defining each option:
- New cars are fresh off the lot with zero mileage, the latest technology, and that unmistakable new-car smell.
- Used cars have had previous owners and may show wear but offer significant cost savings.
- Certified Pre-Owned vehicles are a unique blend, combining the affordability of used cars with the quality assurance of new ones.
Here’s a quick comparison table to summarize the pros and cons:
Why You Might Love It
New cars are all about cutting-edge features, complete reliability, and peace of mind.
You’re the first owner, so there’s no need to worry about hidden surprises or prior wear and tear. Plus, they often come with comprehensive warranties and financing incentives.
The Downsides of a New vs Used Car
The steep price tag is a given, but the biggest drawback?
Depreciation.
New cars lose up to 20% of their value within the first year alone. If budget and long-term value are priorities, you may want to think twice before committing to a brand-new ride.
The Upside of Buying Used vs New Cars
Why It’s a Smart Move
Used cars offer the biggest cost savings upfront. Many vehicles are still in great condition, especially if they’ve been well-maintained.
A good mechanic and some diligent research can help you snag a great deal.
The Catch
Buying used is not without risks. Without the right checks, you could end up with a car that has hidden issues or a murky history. That’s where careful inspection—and a trusted dealer—come into play.
Certified Pre-Owned: The Best of Both Worlds
What Makes It Different?
Certified Pre-Owned vehicles represent a perfect middle ground. These cars have been thoroughly inspected, refurbished, and certified by the manufacturer or dealership to meet high standards.
They often come with extended warranties and added benefits like roadside assistance.
Why CPO Might Be Your Best Bet
- Quality and Reliability: Inspections and certifications mean fewer surprises.
- Cost Savings: You’re paying less than new while avoiding the risks of traditional used cars.
- Warranty Perks: Extended warranties provide added peace of mind.
Where CPO Shines in New vs Used Car Buying Decisions
CPO vehicles are particularly appealing to buyers who want reliability without the sticker shock of a new car.
It’s a subtle yet significant advantage that could save you headaches—and money—in the long run.
State Farm’s New vs Used Car Calculator
Still undecided?
Tools like State Farm’s new vs used car calculator can provide clarity. This handy resource helps you compare costs, including purchase price, financing, insurance, and maintenance.
It’s a great way to crunch the numbers and ensure you’re making an informed decision.
Choosing a Pre-Owned Car Dealer You Can Trust
Ultimately, finding a pre-owned car isn’t the easiest thing either. Dealerships come in all shapes and sizes as well.
For instance, with so many used car dealers, are there dealers you can trust? Are big dealerships better?
Here at Premiere Motorsports, we let satisfied customers speak for us so we won’t toot our horn here. But, we do regularly carry a dynamic inventory of pre-owned cars.
From BMW, Lexus, Mercedes, Porsche, Range Rover, to Toyota and American makes and models (the list goes on…), we’re proud to be the home of low-priced luxury offering certified pre-owned cars for the Chicagoland area.
New vs Used Car: Key Takeaways
If you’re still on the fence, here are some tips:
- Choose New: If you want cutting-edge technology and don’t mind the cost of rapid depreciation.
- Opt for Used: If you’re working with a tight budget and can handle the uncertainty of prior wear and tear.
- Pick Certified Pre-Owned: If you want a balance of quality, reliability, and affordability.
At the end of the day, the right choice depends on your priorities.
Whether you’re drawn to the pristine allure of a new car, the affordability of a used car, or the peace of mind offered by a Certified Pre-Owned vehicle, the goal is to find a car that fits your needs—and makes you happy every time you get behind the wheel.
Happy car hunting!
