Should I Buy A New Car In Puslinch?
Should I Buy A New Car In Puslinch?
Posted on April 19, 2021
We want you to be completely happy with any new car you buy from us, whether that’s brand new or certified used. That’s why we offer so much help and advice around car loans, the car buying process and every aspect of buying a car.
A happy customer is a returning customer and who doesn’t want that? Our Puslinch car loan team have come up with a few pros and cons for buying brand new cars over used ones. Then, tomorrow, we’ll outline the pros and cons of buying a used car to even the score.
All so you can make informed decisions about what car to buy.
Why You SHOULD Buy A New Car In Puslinch
There are some definite upsides to buying a brand new car.
Latest features and technology – If you want the latest safety features or technology, new cars are where it’s at. Brand new models will have the latest in everything available at that price point.
Dealer incentives – Brand new cars can often come with manufacturer or dealer incentives. They can include free upgrades, free trim uplift, 0% finance, dealer contributions or something else entirely.
Lower car loan interest rates – Many brand new cars can come with lower car loan rates. The more you borrow, the lower the rate. As a new car comes at a premium, you may be paying more for the car but you’ll pay lower interest rates in return.
It’s brand new – A new car is straight off the line. Nobody else has driven it and you’re driving the very latest model. Whether you like to drive something brand new or be seen driving something brand new, it’s possible here.
Why You SHOULD NOT Buy A New Car In Puslinch
Buying a brand new car does have downsides though.
Depreciation – Depreciation is one of the main downsides to buying new. The most depreciation happens in the first year of ownership. As that’s you, you’ll see the most loss of value during the car’s lifetime.
High costs – New cars are steadily rising in cost. The rising cost of manufacturing, of technology, materials and everything to do with car manufacture has to be paid for somehow and you’re doing that here.
Larger Puslinch car loans – If the car costs more, if you’re using finance you’ll have to borrow more to pay for it. This is inescapable and is largely the same for used too, just at a lesser degree.
Depreciating asset – While we covered the rate of depreciation, the fact you’re buying an asset that loses value doesn’t sit well with some. Cars aren’t like property where the asset slowly increases in value. You’ll never make your money back on a brand new car.
There’s nothing quite like owning and driving a brand new car. Everyone should experience it at least once in their lives. However, there are pros and cons and it’s important everyone understands them fully before committing.
Contact Unique Chrysler for help, advice and competitive Puslinch car finance and leasing.
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