Is it Better to Buy a New or Used Car?

No matter what kind of Costa Mesa car you need, you’re probably wondering: “Is now a good time to buy a new car?” or “Is now a good time to buy a used car?” It can be a challenging time to shop for your next ride, but Weir Canyon Acura is here to compare the difference when shopping for new vs. used cars. Learn more about whether used vs. new car shopping suits you best, and then get started on your vehicle search with our extensive new and pre-owned inventory at Weir Canyon Acura today!

Used vs. New Cars: What are the Differences? 

Used vs. new car shopping around Tustin and Costa Mesa require different approaches to ensure you find the right match. See below:

New Car Advantages

• Newest Technology: Buying or leasing a new car gets you access to the latest and greatest technology from whatever brand you choose. Automotive technology updates frequently and a vehicle that’s even a few years old can be considered technologically outdated. 
• Greater Fuel-Efficiency: In today’s automotive market, achieving impressive fuel-efficiency ratings is a goal for most automakers. Today’s vehicles feature fewer V6 and V8 engines, as they’re being replaced with turbocharged motors that are designed for greater fuel economy. 
• Full Warranty Coverage: Most new vehicles come protected by a bumper-to-bumper and powertrain warranties that cover most of the car’s components for a certain amount of years and miles. 

New Car Disadvantages

• More Expensive: New cars are much more expensive to purchase than a used or certified Acura for sale, and you can expect to be taxed on the price you pay. What’s more, once the vehicle’s warranty coverage expires, you’ll likely find that your car’s state-of-the-art technology is expensive to repair and maintain. 

Used Car Advantages

• More Cost-Effective: Buying a used car is a good way to save money; you’ll save money when you purchase from the dealer, buy auto insurance, and pay taxes. 
• Slower Depreciation: The value of a new car begins to diminish the moment you leave the dealership. In fact, a large portion of a car’s value is lost in the first few years of its lifespan. Used cars have already taken this initial depreciation hit, and lose value much more slowly as they continue to age. 
• Less Chance for Negative Equity: Negative equity is when you owe more on your car loan than what the car’s worth. So, if the car is lost or irreparably damaged, you may get stuck paying on the auto loan, even though you can’t drive the car. When you finance a used car, you’re likely to have a smaller car loan, so it’s less likely that you’ll end up “upside down” on the loan. 

Used Car Disadvantages

• Higher-Priced Financing: Lenders tend to charge higher interest rates on used-car loans, which leads to higher monthly payments. On the flip side, the price of the vehicle will be lower, so the loan term will also be shorter. 

Why Shop with Weir Canyon Acura?

Our dealership enables you to have a great selection of vehicles to choose from such as excellent new Acura vehicles, as well as high-quality used Acura prices and models. When it comes to pre-owned models, our team will inspect them for condition, reliability, and longevity, to ensure you can keep moving on Tustin and Montclair for years to come. 

Find Your Next Ride at Weir Canyon Acura Today 

Once you’ve had the opportunity to determine whether is now a good time to buy a new car or is now a good time to buy a used car, let our team help you seal the deal on your next Montclair ride. Explore more helpful car buying tips at Weir Canyon Acura and discover more ways to save on your next ride with our new vehicle specials or national offers and incentives. Speak with a member of our team if you have any questions or apply for financing and value your trade-in online at home to get started. Contact us today or stop by our dealership here in Anaheim!