Is it Better to Buy a New or Used Car?

Car dealer giving car key to buyer

If you’re looking to upgrade your Xenia commute, you might wonder, “Is it better to buy a new or used car?” There is much to consider, and one is likely a better choice for you. Below, Key Chrysler Jeep Dodge Ram FIAT helps you compare new vs. used cars so you can make a wise purchasing decision. Read on as we answer the question, “is it better to buy a new or used car?” Contact us if you have any questions or want to start shopping.



New vs. Used Cars: What are the Differences?

New Car Advantages

  • Newest Technology: When you buy or lease a new car, you get the latest and greatest features and technology. Automotive technology advances rapidly, so even a vehicle just a few years old can already feel outdated.
  • Greater Fuel-Efficiency: The cost of gas feels out of control, and today’s new cars feature fewer V6 and V8 engines than in years past. Every year, fuel economy improves, which means more significant savings at Beavercreek gas pumps!
  • Full Warranty Coverage: New cars come protected with a bumper-to-bumper and powertrain warranty that covers most of the vehicle’s components for a limited amount of miles or years. That means greater peace of mind on your Springfield drives!

New Car Disadvantages

  • More Expensive: New cars cost more than used and certified pre-owned vehicles. You also have to pay sales tax in most states.
  • Faster Depreciation: When you drive a new car off the dealership lot, you immediately experience about 20 percent depreciation.

Used Car Advantages

  • More Cost-Effective: When considering new vs. used cars, the cost is a significant factor. Buying a pre-owned vehicle is an excellent way to save money.
  • Slower Depreciation: The value of a new car diminishes the moment you drive it off to your home in Wilmington. Used cars have already had this initial depreciation and lose their value much more slowly as they age.
  • Less Chance for Negative Equity: Negative equity is also called being “upside down” on your car. That is when you owe more on your car loan than what it’s worth. So, if the car is lost, stolen, or damaged, you may get stuck paying back the loan, even though you can’t even drive it. When you finance a used car, you’re less likely to end up “upside down” on your car loan.

Used Car Disadvantages

  • Higher-Priced Financing: Autolenders usually charge higher interest rates on used-car loans, which leads to higher monthly car payments than you might expect. Still, the price of the vehicle is lower, so the loan term should be shorter.

Start Shopping For Your Next Car at Key Chrysler Jeep Dodge Ram FIAT Today!

By now, you probably have a better idea of whether it’s better to buy a new or used car. Whatever you’ve decided, you have our support! We look forward to showing you our new Jeep models and our vast used car selection. You should also check out our offers and incentives for additional savings! Contact us and let us know how we can assist you or get started online by completing a finance application.


More from Key Chrysler Jeep Dodge Ram FIAT

  • 2024 RAM 1500 Towing Capacity

      The RAM 1500 has consistently held the affection of customers at Key Chrysler Jeep Dodge Ram FIAT, and drivers spanning from Beavercreek to Springfield have been enamored with the world-class capabilities of this best-selling truck. So, what’s the 2024 RAM 1500 towing capacity? The latest model boasts an impressive towing power of up to 12,750 pounds! Are you eager…

  • 2024 Jeep Compass MPG

      With its standard 4×4 capabilities and generous cargo space, the Jeep Compass is well-suited for your active lifestyle in Beavercreek. But what is the 2024 Jeep Compass fuel efficiency? The new Compass achieves an EPA-estimated 27 mpg combined city/highway, granting you the freedom to travel further without worrying about fuel consumption. Delve into the…

  • The Impressive 2024 Jeep Wrangler 4xe Towing Capacity

    The hybrid 2024 Jeep Wrangler 4xe looks like it could easily dominate our Beavercreek roads. But what about towing? How much can the new Jeep Wrangler 4xe tow? The 2024 Jeep 4xe towing capacity is a respectable 3,500 pounds. Let’s talk about that in more detail, as well as discuss specific trims, like the Jeep…

Key Chrysler Jeep Dodge Ram FIAT 39.7120915, -83.936812.