Used vs New vehicle - Things to Consider
Are you considering buying a used vehicle? There are benefits to both new and used vehicles, so which choice is best for you?The obvious benefit to buying a used vehicle is the cost, but keep in mind the lower price tag comes with HIGHER risk. The key is to find the right balance of value and risk. Here are a few things you should consider before deciding whether a new or a used vehicle is right for you.
Reliability - Reliability is a huge concern for buyers and used cars are proving to be more reliable than ever before. Since 2005, used vehicles are reporting fewer problems and are easily surpassing 100,000 miles while many reach 200,000 without any major repairs.
Warranties/Repairs - Used vehicles will most likely need repairs, so consider the repair costs that may be associated with owning a used vehicle. New cars typically have very few problems within the first three years and if they do have problems, it is usually covered by the warranty. When you purchase a used car it is usually coming close to the end of its warranty or the warranty has already lapsed. Typically, any repairs that are needed on the vehicle are going to be out of pocket expenses for you. The cost of the repairs will probably be less than the savings of purchasing a new vehicle, however, you have to determine if you are prepared for the out-of-pocket expenses that may be needed to get you back on the road. 
Depreciation - We have all heard that the depreciation begins as soon as you leave the parking lot. There is a RAPID depreciation that takes place over the first few years of a cars life span. Generally 47 percent of their value depreciates in the first 3 years, while only 18 percent over the following 3 years.Insurance - A used car will have a lower replacement value, therefore, insurance rates will be cheaper on a used vehicle.
Safety - New cars will usually be equipped with the latest safety features available on the market, however, that does not mean that used cars are unsafe. Anti-lock brakes, traction control and side air bags have been common features for vehicles for some time. Features like Electronic Stability Control, Head-Protecting curtain bags and advanced air bag systems may not be installed in a used vehicle.
**Information gathered from Consumer Reports http://bit.ly/S4MEvy
These are just a few things to consider when deciding which vehicle is right for you. The Team at Hulett Chevrolet Buick GMC would be happy to assist you and show you some great new and used vehicles. Come on in and see the great inventory of both new and used vehicles at Lake of the Ozarks!!
We look forward to meeting you!!
photo credit: Caveman Chuck Coker via photo pin cc
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