Getting a car loan doesn't have to be a nightmare, even with bad credit.

What’s Better? New or Used?

last updated September 26, 2014 by

Purchasing a used car has always been known as the more economical choice. New cars come with not only a higher price tag but the extreme depreciation of driving a new car off the dealer’s lot. In the past, if you were looking to save money the best option was used. This may not hold as true anymore. With the increase in demand and the increase in used car prices buying new may now be the better way to go.

With the change in economy, shoppers who would have been in the market for a new car before are now looking to the used market. This increase in used car sales has strained used car inventories, which in turn raises the prices of previously affordable cars. Although, the prices of used cars has decreased in recent months, they are still high compared to historical standards.

get a car loan

Cost may not be the only advantage of buying new car, here are some advantage of buying a new car:

  • With the warranty coverage associated with a new car, maintenance costs are reduced.
  • Many new cars come with free roadside assistance.
  • Finance charges are usually lower and can come with more term options.
  • Purchasing a new car gives the owner peace of mind knowing they are the first owner of the vehicle.

On the other hand, there are also advantages of choosing used over new:

  • Affordability, you can often purchase a nicer, more luxurious car used then you could have afforded new.
  • Someone else already paid the major depreciation.
  • Some used car come with leftover warranty coverage or some dealerships offer used car warranty programs.

Whether you choose to purchase a new or used car, do your research and find the best option for you.

Original Article: http://www.journalstandard.com/article/20140922/NEWS/140929987/1994/NEWS/?Start=1