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Vehicle Loans

NEW VERSUS USED

When it actually comes to purchasing, it is more of a personal preference if you buy new or used. The largest factor most people consider is if they can afford the price of a new vehicle. While all individuals want a new vehicle, not all can realistically afford one. There are several pros and cons for each. Listed below are just a few of the items to think about prior to purchasing a vehicle.

New:

● Price is normally the biggest factor and is almost always more expensive than purchasing a used vehicle.
● All new vehicles come with some type of manufacturer warranty. The specifics of each warranty will vary depending on make and model of vehicle.
● New autos also carry the option of purchasing extended warranties to further your coverage in the event of a mechanical breakdown.
● Easier to find specific model, color and options on a new vehcicle.
● The fact that everything on the vehicle is new (paint, interior, tires, etc…)
● Purchasing a new vehicle generates a certain amount of prestige within and can be a very powerful sales tool.

Used:

● Normally used autos are less expensive.
● Physical condition of vehicle must be taken into consideration. Review auto for paint condition, mileage, condition of interior, tire tread, etc…
● Can be more difficult to locate a specific make, model, color and option scheme of auto.
● Reliability of auto being purchased.
● Maintenance done to the auto by previous owner.
● Some dealers offer extended warranties through third party companies which can add piece of mind in the event of mechanical breakdowns.

 
 


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