Should I Buy New or Used? | Lafayette, IN

It's the question that comes up for almost all potential car buyers: Should I buy new or used? There are significant benefits and drawbacks to each option. Typically, one is better suited to your needs, lifestyle, and budget than the other. Here's a brief guide to help you decide whether to buy a new or used vehicle.

 

Benefits & Drawbacks of Buying New

There's nothing quite like buying a new vehicle and being able to call it your own. Here are a few benefits of buying new:

·         Brand-new equipment and interior - New vehicles feature the most up-to-date equipment and interiors that are clean and unused.

·         Latest vehicle technology - Typically, new vehicles come with state-of-the-art connectivity, convenience, and safety technology, taking your driving experience to the next level.

·         Customized specifically to you - You can customize a new vehicle exactly to your liking and according to your preferences, which you can't do with a used vehicle.

·         Reliable - Since new vehicles feature brand-new equipment, you don't have to worry about damaged equipment or vehicle systems.

However, buying a new vehicle is often more expensive than buying used, and new cars can lose up to 40% of their initial value in the first two years alone. New vehicles are also more expensive to insure.


Benefits & Drawbacks of Buying Used

Buying used is an option that many car shoppers pursue, as it's a smart option for a variety of drivers. Here are a few benefits of buying used:

·         Better value - Used cars are priced much more affordably than new vehicles and have already gone through the standard value-depreciation process that new vehicles go through in the first couple years. Therefore, you get more for your money when buying used.

·         Greater variety of cars in budget - Buying used may bring particular make/model that is otherwise unaffordable to you into your budget, granting you access to your dream car.

·         Same or similar equipment and features - Used vehicles from recent model years often offer the same or similar equipment and features as the current model year, but come at a better price.

For some drivers, however, buying used can feel risky and less comfortable than buying a new vehicle. It's true that you can't entirely anticipate how a used vehicle will perform, but used cars from dealerships generally come with a warranty to give you peace of mind that your investment is protected.

Come explore our lineup of new and used models here at Mike Raisor Auto Group.

Make an Inquiry

Contact

Mike Raisor Automotive Group

Hours

  • Monday 9:00am - 8:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 8:00pm
  • Thursday 9:00am - 8:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 6:00pm
  • Sunday Closed