Buying New vs. Used Cars Guide
Whether you’re in Springfield or Roseburg, car shopping is exciting, but what if you’re still in the early stages, such as figuring out how a new car vs. used car fits into your lifestyle. So should you buy a new or used car? While one isn’t necessarily better than the other, you’ll find one to be a better choice for your needs and budget. The team at Mercedes-Benz of Eugene has listed out new car vs. used car pros and cons below to help you decide which is right for you!
New Car vs. Used Car Pros & Cons
New Car Advantages
- Newest Technology: When you’re buying or leasing a new car, you can find the latest and greatest technology no matter which brand you go with.
- Improved Fuel-Efficiency: If you’re serious about being fuel-efficient, you might want to consider new models as current models have new motors that are designed for greater fuel economy. For example, if you’re thinking of a Mercedes-Benz vehicle, you’ll see that the new EQS is an all-electric vehicle that will offer top-of-the-line fuel economy.
- Full Warranty Coverage: Most new vehicles come with bumper-to-bumper and powertrain warranties that cover most of the car’s components for a certain amount of years and miles.
New Car Disadvantages
- More Expensive: New cars cost more to purchase than used and certified pre-owned vehicles. You’ll also likely find that your car’s new technology is expensive to repair and maintain once the manufacturer warranty expires.
Used Car Advantages
- More Cost-Effective: Most Corvallis drivers who are trying to save money will buy pre-owned instead. Not only is it cheaper to buy, but it’s also cheaper to buy auto insurance and to pay taxes. This is one of the main edges to pre-owned models when it comes to buying new vs. used cars. it’s also the main advantage that impacts the rest of the advantages.
- Slower Depreciation: The value of a new car begins to depreciate the moment you leave the dealership. In fact, a large portion of a vehicle’s value is lost in the first few years of its lifespan. However, pre-owned cars have already taken this initial depreciation hit, so they will lose value much more slowly as they continue to age.
- Less Chance for Negative Equity: Negative equity is when you owe more on your car loan than what the car’s worth. If the vehicle is lost or irreparably damaged, you may get stuck paying on the auto loan despite not being able to drive it anymore. When you finance a used model, you’re likely to have a smaller car loan, so it’s less likely that you’ll end up “upside down” on the loan.
Used Car Disadvantages
- Higher-Priced Financing: While pre-owned models are cheaper, lenders tend to charge higher interest rates on used-car loans, which means higher monthly payments.
Should You Buy a New or Used Car?
It depends on what your priorities are, but if you’re looking for an amazing deal, you’ll lend towards a pre-owned model. However, if you still want relatively new features, you can go for certified pre-owned models instead. At Mercedes-Benz of Eugene, we have certified Mercedes-Benz models as well as next-to-new models.
Find Your Next Vehicle at Mercedes-Benz of Eugene Today
After seeing new car vs. used car pros and cons, which one are you thinking of getting in Eugene? Regardless of what you end up choosing, you can find new and used cars at Mercedes-Benz of Eugene! Discover our selection and contact us for a test drive in your favorite model.
More from Mercedes-Benz of Eugene
With its distinctive styling, well-appointed cabin, and versatile performance capabilities, the 2023 Mercedes-Benz GLB could be the ideal choice to upgrade your Corvallis commute. This compact luxury SUV will be available in the new vehicle inventory at Mercedes-Benz of Eugene near the end of 2022, but if you want to reserve your new Mercedes-Benz GLB, consider placing…
We’re loving this video about the women of Mercedes and our history.
The Mercedes-Benz GLA returns for 2023 with powerful and efficient performance, innovative tech features, and a comfortable cabin space decked out with premium materials. Sporty and elegant, this smallest SUV in the Mercedes-Benz lineup provides agile handling on busy Springfield streets, while offering a surprisingly spacious and versatile interior. Learn more about what the…