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Buying Used vs. Buying New

While there are tons of brand new models on the roads of Hillsboro, more and more Logan and American Fork drivers are turning to the used lot. So, why buy used? Value. You can get a phenomenal deal when you shop for a used vehicle, and at Truck Ranch, you can rest assured that you’ll get premium quality for a discounted price point. In fact, you could save thousands of dollars simply by opting for last year’s model instead of the newest truck available. Take a look at the differences between buying used vs. buying new – and see why savvy shoppers choose used cars every time!

Used vs. New Cars: Depreciation

One of the biggest differences between used vs. new cars is the price. But to understand the price differences, you need to understand depreciation. Did you know that a new car loses 20% of its value the second it drives off the lot? That means in mere minutes, your $30,000 investment loses $6,000 when you turn out of the dealership! After a full year of driving, that 20% could jump to 30%! New vehicles simply do not hold their value enough to be worth the high price tag to many drivers. If the luxury of a new car is worth it to you, then the benefits outperform the drawbacks. But for many Logan drivers, buying used is simply the better financial option.

Used Vehicle Advantages

You may have heard the old excuses for buying a new car, like “New cars are more reliable” and “New cars need less maintenance.” But today’s vehicles are safer, tougher, and more reliable than ever before – even with high mileage. Here are some other benefits to consider:

  • Insurance: Insurance is calculated by your car’s value and when you pay less for your car, you pay less for insurance. You also have more flexibility in your options, like collision and comprehensive coverage, which can save you even more.
  • Registration: Just like your insurance cost, your registration fees are also lower – and usually, your costs just go down with every year!
  • Flexibility: When you save 30% off the price of a new car, you have more flexibility in your budget. You could check out our vehicles under 20k or opt for our pre-owned vehicle specials to save even more. But then again, you could also use the extra money to upgrade to a premium trim or add new accessories!

Find Your Next Vehicle at Truck Ranch

You’ve seen the advantages of buying used vs. buying new, now let’s find your next vehicle. Curious if you can trade in a financed car or want to know how to sell your truck?  Contact us at Truck Ranch with any questions and start shopping!

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