Why Do People Buy Used Vehicles Instead of Buying New One?

There’s a reason why 86% of the population views a car as a necessity. For many people, the idea of a day without driving just isn’t feasible. If you’re gearing up as a car buyer you’re likely facing the age-old question: should you be buying a new car or a used one?

There’s no denying that pre-owned vehicles tend to be the more popular option. But, it can be hard to tell if it’s the right choice for your needs. That’s why we made this article.

In it, we’ll walk you through some of the pros and cons of buying used vs. new cars.

Regardless, of your decision, we’ll also show you some great deals on certified pre-owned, used, and new Toyotas. That way you can get on the road as soon as possible.

1. Used Cars Are Less Expensive

This is the main reason why people choose to buy used cars: they’re more affordable than new ones. It can depend on the vehicle in question. But, the average new car tends to be almost twice as expensive as the average used car.

It’s not hard to see why. These days new cars tend to be almost entirely composed of computer systems. And, a shortage of microchips is continuing to disrupt the industry which drives up prices.

Not only that but with a new vehicle your property tax and insurance will also be more expensive. So, you can stand to save a lot of money on monthly payments when you choose a used vehicle.

2. Pre-Owned Vehicles Avoid Depreciation

We’ve all heard the statistic that a new car loses a major percentage of its value the second you drive it off the lot. That’s because a new car is not an investment.

It starts depreciating the minute you get behind the wheel. Over the first few years of a car’s life, the vehicle depreciates at a rapid rate. Then, in its later years, this depreciation rate slows down.

That’s another reason why many buyers choose used ones over new ones. When you buy a relatively new used car, then you’re letting the original buyer absorb the massive amount of depreciation the car experienced in its first year.

Then, you get the benefit of driving a less expensive car that depreciates at a slower rate.

3. It’s Easy to Find Their Vehicle History

In the past, buying a used car could feel like a bit of a gamble. That’s because it was often hard to get the vehicle’s history report. And, when you did get it, there was potential for it to be altered.

However, that’s no longer the case. These days, there are a variety of free vehicle history services available on the internet. The report will show you things like:

• Title history
• Record of its maintenance
• Any accidents or collisions it was involved in
• The number of owners

This information allows you to avoid cars that have skeletons hidden in the closet. Keep in mind that a vehicle history report isn’t perfect. But, it can help you rule out some bad contenders from the get-go.

When Should You Consider a New One?

We’ve heard some of the benefits of used cars. But, there are also plenty of reasons why you might want to consider getting a new one. For one thing, they’re more fuel efficient.

Some hybrid or fully electric models can save you tons of money on gas. They also have the latest technology which makes driving both safer and more convenient.

You can usually get a much better deal on your financing when you buy a new car too. That’s because lenders tend to see used cars as a bit of a risk when it comes to auto loans.

However, since new cars are expected to last a lot longer they’ll give you more favorable conditions for things like your interest rate on the loan. Used cars also carry the risk of frequent breakdowns and expensive repairs.

With a new car that typically isn’t a problem during the first three years. Lastly, there’s that new car smell.

This might sound like a silly reason to buy a new car. But for some drivers, it represents the fact that they’re the first person driving the car.

Where’s the Best Place to Buy New or Pre-Owned Vehicles?

Regardless of whether you’re buying a used vehicle or a new one the most important thing is finding a good seller. Unfortunately, not all car sellers are made equal.

If you go with a private sale, there’s a good chance you’ll be getting a car with hidden problems. And sketchy dealers will send pushy salespeople to pressure you into a bad deal.

So, how do you avoid these types of dealerships? First, you want to find a local car dealership that offers a wide selection of both new and used cars. Ideally, they will also offer certified pre-owned vehicles.

These options are a good in-between for people that can’t decide on a new or used car. Next, you want to make sure that they price their vehicles fairly.

For example, here at Universal Toyota we price our car competitively and work with you for financing regardless of your credit history.

Interested in Used or New Toyotas? Look No Further Than Universal Toyota

We hope this article helped you learn more about buying a new car vs a used one. Ultimately, the right decision comes down to your wants and budget.

So, take both into account, then visit a fantastic dealer that offers pre-owned vehicles like Universal Toyota. We offer a variety of certified pre-owned, used, and new Toyotas.

We’ll even purchase your current car from you. If you have any questions at all about our used cars, then make sure to contact us or just come in for a visit.