Is It Better to Purchase a New or Used Ford?
When you decide to purchase a Ford car, you have plenty of options available. You may select any Ford model or make, and even whether you want to buy a used or new car. This latter decision is the most important one because it will impact your finances for the next few years.
You have to learn about the benefits of both types of vehicles before making a final decision.
Here are a few advantages and disadvantages of buying a new Ford:
New Car: Advantages
All the new Ford models are equipped with a warranty. In addition, new vehicles generally don’t need major repairs in the few years, except for the maintenance. When purchasing a Ford, the dealer may offer financing options at very low-interest rates, which can significantly reduce the interest amount you have to pay over the course of the loan. Apart from these basic advantages, new Ford vehicles are equipped with the latest technology specs. There are cars with excellent gas mileage, infotainment systems, low emissions, and even hybrid vehicles that reduce transportation costs. You may also access the Internet in your car!
New Car: Disadvantages
Perhaps the biggest disadvantage of purchasing a new Ford is that you begin to lose money as soon as it’s driven off the lot. The largest depreciation on a new vehicle occurs within the first two to three years. This is like throwing away thousands of dollars. If you’re strapped for cash, then this financial hit may affect you significantly.
Another disadvantage of getting a new model is that there may be problems with the design or engine. These issues will not come to light until you’ve driven off the lot.
Used Car: Advantages
When you purchase a used Ford, someone else is taking the depreciation hit on the vehicle. You’ll be able to sell this vehicle for almost the same amount of money that you paid in the next couple of years. You also have access to great financing options through a credit union or local bank. Since you’re not losing anything on depreciation, you may be able to get a zero-interest loan.
When you purchase a used car, you can easily save up for it and pay for it in cash. By reading the Consumer Reports, you can easily select a model that has good performance. Another important benefit of buying used vehicles is that your insurance rates will be lower, helping you save more money.
Used Car: Disadvantages
Buying a used vehicle doesn’t guarantee that it won’t need repairs, unless you purchase a certified pre-owned car. Another drawback to purchasing a used Ford is that you may not get the color or options you want. You will also have to exercise a lot of patience and flexibility because you won’t necessarily get everything you’re looking for. Lastly, even though most vehicles today are built to last and don’t require repairs until they’ve crossed the 100,000 mark, you will still face repairs a lot faster than with new cars.
Ultimately, the decision to purchase a new or an old car is a personal one, based on factors like savings, costs, mileage, etc.
To shop for a Ford Miami FL, visit our Gus Machado Ford Hialeah dealership in Hialeah, FL. We also serve the residents of Medley, West Little River, and Miami Springs.