Buy New or Used? That is the Question

When it comes to buying a new or used vehicle, there are a lot of things to keep in mind. Some of them are completely logical, such as how far you drive in a year and how much you can afford. Some are completely illogical, including the thrill you get from that new car smell. Whether you decide you want a new or gently used vehicle, the Chapman Las Vegas dealerships have a huge inventory from which to choose.

Warranty a Big Consideration

Depending on the company, a new car generally has a limited bumper-to-bumper warranty that covers all major components for anywhere from 3 years and 36,000 miles to 5 years and 60,000 miles. If you like changing cars every few years, a 3-year lease will mean your vehicle is always under warranty and you won’t ever have to pay for major repairs. Conversely, for a couple of thousand dollars you can usually get an extended warranty on a used car that covers the same items. Just remember that today’s cars are a bag of complicated technology that can be expensive to repair.

Price and Depreciation Something to Think About

Used cars are naturally less expensive than new cars and the depreciation that happens when you drive off the lot has already happened to someone else. New car prices may vary, but you always have a window sticker with a manufacturer’s suggested retail price to use as a point of comparison. Dealerships can charge what the market will bear for a used vehicle, so make sure you do your research utilizing websites like edmunds.com and kbb.com to get a good starting point as to what a vehicle is worth.

Insurance is Not a Minor Point

Depending on your driving record and the vehicle in question, the monthly cost of insurance can cost as much as the car payment. If you buy a $60,000 luxury car, expect a luxuriously high insurance payment. Conversely, if you buy a used vehicle with 50 or 60,000 miles on it, the insurance will be much less expensive. If you don’t finance a vehicle, you always have the option of obtaining only liability insurance. That means you’ll pay for the other guy’s damage if the wreck is your fault, but you’ll be out of pocket for whatever damage is done to your vehicle.

Pick the Car That’s Right for You

Whether you decide to purchase a new or used vehicle, make sure you pick the vehicle that you want. You’ll probably be driving it for a minimum of 3 years, so to get something you’re not happy with doesn’t make sense. The Chapman Las Vegas dealerships have a huge inventory of new and used cars from which to select. Their finance wizards will help you get the best payment and give you all the information on extended warranties to protect your investment for a long time to come.

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