| Even in this down market, is it still a good idea to buy a | | | | addition to the warranty, you will also get Lemon Law |
| new car instead of a pre-owned one? What are | | | | protection. |
| some of the advantages to doing so, and do they | | | | 4. New cars generally come with a lower financing |
| outweigh the disadvantages? Here are a few pros | | | | rate. |
| and cons to consider when deciding to buy a new car. | | | | 5. You get to enjoy the feel of driving a new car and |
| Pros of Buying New | | | | that new car smell |
| 1. You have the ability to customize your vehicle from | | | | Cons of Buying New |
| the beginning. If you like having the most control over | | | | 1. It will cost more. A higher price means higher monthly |
| your car, buying new allows you to get and order | | | | payments. |
| exactly what you are looking for. | | | | 2. The value of a new car depreciates rapidly in the |
| 2. The car is equipped with the latest style and | | | | first few years of ownership. Some figures estimate |
| technology, including the latest safety equipment. | | | | that the value of a car depreciates between $5,000 |
| Because the car has not been through anything it is in | | | | and $8,000 the minute you drive it off the lot. New car |
| optimal condition, which will give you peace of mind. | | | | buyers absorb the bulk of a vehicle's depreciation. |
| 3. You receive a full manufacturer's warranty. | | | | 3. Insurance rates tend to be higher. |
| Warranties rarely come with used vehicles, so that | | | | 4. With used cars, there is less price variation between |
| might be something to consider if it is a concern for | | | | the same make and model. |
| you. Plus, a new vehicle technically lasts longer since | | | | 5. Unless the price reaches a certain cut-off point, tax |
| there is no threat of potential abuse of surprises. In | | | | rates are also higher. |