86% of Americans believe that a car is a necessity. Most start driving in their teenage years, and so by the time they reach adulthood, they are already more or less no stranger to the entire deal of selling their old car to get a new one.
When deciding to buy a car from leading car dealerships in Covington, LA, you'll have to answer a question: buy a new car or a used car? Well, the answer isn't that simple.
In the recent years, used cars have become increasingly reliable, so both options are equally viable. According to CNN Money, the choice ultimately comes down to finances.
New Car Pros and Cons
The advantage of a brand new car is that it's all yours--it hasn't been abused, you can have it equipped according to your preferences, and you get the full warranty, which may even be extended by the dealer. You also get low interest rates, which the Federal Reserve has continually set. Then, you also get the latest technologies like navigation systems, satellite radio, music player, and internet access.
For the cons, you have depreciation. In fact, the moment you drive that car out of the shop, it already begins losing value. You will also be carrying the full coverage of the car until you have paid it in full. The newer it is, the higher is its premium. Also, you can't expect a car to be an investment.
Used Car Pros and Cons
On the other hand, if you have a relatively tight budget, you still have a good chance of finding great value in buying a used car. With the fast depreciation, you can get a good-quality car for a much lower price. The insurance, registration, and taxes are also lower more often than not. Moreover, when you buy a used car still within its original warranty period, it's likely that it can be transferred to you.
The cons for a used car are mostly hinged on the uncertainty and unfamiliarity with the unit. You can't really know whether the previous owner followed manufacturer guidelines. You'd also probably have to settle for one that doesn't fit your preference (e.g. color), and the technology in the car is most likely outdated.
Making a Choice
At the end of the day, it's up to you to weigh all the pros and cons and make a decision whether to buy a new or used car from credible Covington, LA car dealerships. Dealers like Baldwin Subaru have large inventories so you have a wide selection either way.
(Source: Buy a new car or a used car?, CNN Money, undated)
