Chevy, Kia, Ford, Honda….you’ve been reading lots of reviews lately on blogs…including here on Champagne Living. Just last week I reviewed the Kia Sorento, and next week you’ll be reading my take on the Kia Optima hybrid. But, is buying new ALWAYS the right choice?
If you’ve been following here for a while, you know that I grew up in the wholesale automobile business. My dad was a wholesale dealer and after my husband and I sold our restaurants, he joined my father. I’ve owned both new and used and choosing one over the other is not always a black and white situation.
When choosing between the two you have to take a lot into consideration. Do you want your car to have a warranty? It can be a pretty expensive proposition if you buy a used car and have to do repairs on it soon after purchasing. Having grown up on the used car end I can tell you that by checking out the used car reviews, you’ll have a better shot at knowing which cars will not give you a headache and which you should pass on. For example: a used Honda, Toyota or Mercedes may be a better deal than a new Hyundai. Buying a used car that’s been certified might be the way to pay LESS for a car and still have a warranty.
There are times however, when buying new might be a better deal financially. Not only will you have a more comprehensive warranty, but you may also find some GREAT deals for new cars – including lower financing rates (and sometimes even 0% financing) that can make a new car actually cost less than a used model. Add to the fact that in this economy, more people think that they’ll save money buying used, and the prices of used cars have gone UP. Dealers, looking to turn over their inventory may very well offer promotions along with the lower rates.
Don’t forget that now is a great time to pick up those 2011’s that have been sitting on the dealers lot. Think brand new cars at used car prices!
The bottom line is that you shouldn’t rule out used or new, simply do your homework and you should be able to score a great car at a great price.
Featured post for Ipin, all opinions are my own