Cars - New Vs. Used

Cars - New Vs. Used

By Shannon Bowen

Pros to buying a new car

• If you buy a brand new car, you know that it has NEVER been in an accident.

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• New cars come with warranties. If anything breaks, the car company will usually fix it for you.

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• Newer cars have better options and new technology (like back-up cameras and push button start.)

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• It is easier to finance a new car so you can get a payment plan more easily.

Open Ended

In YOUR opinion, what are the two best 'Pros' about buying a new car.

COns to buying a new car

• It can be very overwhelming to go into a dealership and go through the car buying/loan process. It can take HOURS and there is A LOT of paperwork to fill out.

• If you don't have good credit or a high paying job, you might get turned down even after all that time spent.

• Getting a car loan means your credit score goes down. In fact, just ASKING for a car loan can lower your credit score, even if you don't get it.

• A new car is IMMEDIATELY worth less than you paid for it. ​As soon as you drive it off the lot.

Open Ended

In YOUR opinion, what are the two worst 'Cons' about buying a new car.

PRos to buying a used car

• Used/older cars are​ usually MUCH cheaper than new cars.

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• If you save enough money, you can buy them outright or for a much lower monthly payment.

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• You can purchase an extended warranty just in case anything breaks during that time.

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• If you don't buy it from a dealership, the process is much easier.​

Open Ended

In YOUR opinion, what are the two best 'Pros' about buying a used car.

cons to buying a used car

• Used cars can have 1 or MANY previous owners, depending on the age of the car. You do not always know how those owners treated the car or if there were accidents. (There are ways to make this less of a problem.)

• Used cars are much more likely to break down. If you can't afford an extended warranty, you have to pay your own money to fix it. That can get very expensive.

• Financing can be more difficult to get on used vehicles. Things like vehicle year, mileage, and condition can make it harder to get a loan. ​

Open Ended

In YOUR opinion, what are the two worst 'Cons' about buying a used car.

Open Ended

Based ONLY on this information, would you buy a New Car or a Used Car?

What is the main reason you chose what you did? (reference one of the Pros or Cons we talked about.)