Is it Better to Buy a New or Used Car?

salesman passing over new car key

Is it better to buy a new or used car? Drivers over Richmond and Winchester ask themselves this question daily. And between a new vs. used car, both options have plenty of benefits. So instead, think of your priorities for your next vehicle purchase. Are you more concerned about monthly spending or warranty coverage? Are you looking for the latest and greatest features or something tried and tested? No matter your wants and needs for the Danville roads ahead, Short Redmond SuperStore can lead you toward your perfect car at Lexington!



New vs. Used Cars: What are the Differences?

New Car Advantages

  • Newest Technology: Between a new vs. used car, new cars will always be on the cutting edge of technology. And given how rapidly technology changes, you’ll always stay up-to-date if you buy a brand-new car.
  • Greater Fuel-Efficiency: Modern cars are more concerned with fuel economy than ever before, which means modern cars are more focused on efficiency. This means more turbochargers and fewer V6 and V8s, as well as green options like EVs and hybrids.
  • Full Warranty Coverage: Most new vehicles have a generous bumper-to-bumper and powertrain warranty that covers the car’s major components while offering owners total peace of mind.

New Car Disadvantages

  • More Expensive: New cars are more expensive than used cars, and all that state-of-the-art technology can be costly to maintain. Once your warranty runs out, you might find that your maintenance will increase.

Used Car Advantages

  • More Cost-Effective: Between a new vs. used car, a used car will almost always be the more affordable choice. You will save on the sticker price and everything from insurance to registration to taxes.
  • Slower Depreciation: New cars start losing significant value the second that they leave the lot. Used cars have already taken that initial depreciation hit, keeping their remaining value much longer.
  • Less Chance for Negative Equity: Negative equity occurs when you owe more on your car loan than the car’s worth. You’re much less likely to get into a negative equity problem with a used car because your loan is smaller.

Used Car Disadvantages

  • Higher-Priced Financing: Used cars are cheaper than new cars, but some lenders charge higher interest rates on used models. But used cars are also less expensive overall, and loan terms are shorter.

Find Your Next Car with Short Redmond SuperStore

Want to enjoy rock-bottom prices on high-quality vehicles? Visit Short Redmond SuperStore in Lexington, and get behind the wheel of our used vehicles. We’d be happy to help you find your perfect car, so don’t hesitate to contact us for more information! Or, if you’re still researching your options, take a look at our car shopping tips.


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