Is it Better to Buy a New or Used Car?

Is buying a new vs. certified pre-owned car better if you’re a Queens driver? That depends on your situation. The decision to buy new vs. CPO depends on several factors that can sway your decision one way or the other. In the next section, we’ll compare if it’s better to buy a new vs. certified pre-owned car and demonstrate the advantages and disadvantages of each to give you a better idea of which decision better fits your budget and lifestyle. 

New vs. Certified Pre-Owned: What’s the Difference? 

Advantages of Buying New

• Newest Technology: Financing or leasing a new car means you have access to the latest technology on the market. If you want the best navigation, entertainment, and safety features and don’t mind paying for the latest updates, buying new cars probably suits you best. 
• Greater Fuel-Efficiency: As technology advances, typically, every model year gets a little better in every category. Fuel economy is one of those categories as the battle to save at the fuel pumps and become more environmentally friendly rages on. 
• Full Warranty Coverage: Most new vehicles you purchase have an extended warranty. However, buying used doesn’t include a warranty (unless it’s a certified pre-owned). You must check to make sure you’re CPO still has warranty coverage. 

New Car Disadvantages

• More Expensive: One of the pitfalls of purchasing a new car is that it will significantly strain your budget. In many cases, you can expect to pay almost double for a new car as opposed to a used or certified pre-owned, depending on the year and other factors. 

Used Car Advantages

• More Cost-Effective: When you choose a used car instead of a new model, you set yourself up for possible savings. This money could be spent on upgrades or other additions to purchasing a used or certified pre-owned car. 
• Slower Depreciation: Did you know that most of a car’s depreciation occurs during the first five years of its existence? You stand to lose much less of a car’s value if you purchase a certified pre-owned or a used car in good condition. This means the price you pay could hold until you decide to sell or upgrade. 
• Less Chance for Negative Equity: Negative equity is the term used to describe a situation where you owe more than a vehicle is worth. 

Used Car Disadvantages

• Higher-Priced Financing: When you purchase a used car, your interest rates are higher than when you choose something brand-new. This could have a significant effect on the final price, depending on what your interest rate looks like. 

Shop New or Certified Pre-Owned Cars at Bay Ridge Volkswagen

If you’re in the Staten Island or Bronx area, we invite you to shop from our selection of new and certified pre-owned models. We have options in our inventory to accommodate just about any type of driver, and we’re confident we can help find something that suits you. Our finance department works tirelessly to ensure our customers get an interest rate that works for them, and we won’t stop until we get you into the vehicle you want. Contact us online for more information on inventory or our buying process!