If you are looking to buy a new car, look no further! We’ve outlined everything you need to know when buying a new or used vehicle
There are many decisions and factors that go into buying a new car.
Should you be buying it new or used? What kind of car should you be buying? Is it going to be long-term or short-term?
Buying a car should be exciting, not stressful. Here is insight on some pros and cons about buying a new or used vehicle.
Buying New
- New Safety Features – Every year car companies are inventing new and improved ways to keep us safe on the road. If you are buying the newest model on the market you will benefit from such features like blind spot systems, cameras, and vehicle stability control.
- Fuel-Efficiency – If you want to save money in the long run on gas, buying a brand new fuel efficient car can help.
- Government Incentives – Many people buy a new car because of the incentives offered by the government. Some provincial governments offer rebates to those who buy electric vehicles.
Buying Used
- Save Money – Buying a used vehicle allows you to save money upfront. If you are on a specific budget, this can be a good way to stay within that budget.
- Slower Depreciation – If you buy a brand-new car, the minute you drive it off the lot it’s depreciating. However, if you buy a used vehicle, you can minimize the amount of depreciation.
- Lower Insurance Rate – Sometimes used vehicles can see lower insurance costs, however, it depends on the make, model, and other factors.
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