Which Is the Wiser Buy: New or Used?

It's an age-old question in the American car culture, even for those seeking Delaware car loans: Should I buy a used car or a new one? We've all heard the story about a new car losing 20% of its value the moment you drive it off the lot. But there's much more to answering the question than that old saw. And most of it depends on you and your needs.

It's Not Used - It's Pre-Owned!

Some people would never buy a used car in a million years, but these vehicles, often with many serviceable years left, have their own unique benefits:

Lower sticker price: Pretty simple to understand, right? Used cars cost less up front. And if you are careful, you might find one that is still under its original factory warranty, most of which are transferable to subsequent owners like you. The drawback can be the term available for a car loan: Many lenders will not go beyond 48 months, and some no longer than 36 - and at higher interest rates than for new.
"Gently" used: Because it was owned by a little ol' lady? Not quite. There is recent proliferation of so-called certified pre-owned vehicle programs. The idea started with finer auto makers and has become a popular alternative for other quality middle-of-the-road makes as well.
Better reliability: As already mentioned, many used vehicles are not yet out of warranty. And many warranty programs extend to 100,000 miles or more, and as long as 6 years. The reason that this is possible isn't just marketing: recent makes are actually more reliable and for a longer time. For this reason, there is also an increasing number of quality, reliable used vehicles on the road. And with the availability of extended warranty programs for used car buyers, pre-owned autos are much less of a risk than they once were.

Ah, That New Car Smell

Breath deep. That's not just the scent of a new car, for many people that's what safety smells like. And to many car buyers "new" also equates to choice of color and appointments, but also pride of ownership, a sign of accomplishment. Some of the benefits of a new car are:

Reliability: New vehicles are virtually defect-free, depending on the make and model. And most new vehicles won't see major breakdowns or repairs for years and thousands of miles of use.
Reduced maintenance: Even after a car has been on the road for a while a new vehicle likely won't need tires, battery, exhaust system, or brakes during the first few years. Some models don't even need tuneups for tens of thousands of miles. And some manufacturers even cover the cost of those routine maintenance items on higher-end new cars.
Warranty coverage: Many manufacturers covers new vehicles under warranty for five years or more(!) and some warranties last even longer. And with a manufacturer warranties, if something goes wrong, it's up to the dealer and manufacturer to fix it.
Peace of mind: Really, all of the above adds up to peace of mind. Even if you are handy mechanically, today's autos are so complex with computerized everything that repairs for all but professionals are a nightmare. And with a new car, all 50 states have lemon laws on the books to protect consumers legally.
Roadside assistance: In addition to a comprehensive warranty, almost all new cars and light trucks come with free roadside assistance while the vehicle remains under warranty.

Whichever you choose, the wise route is to secure financing for new and late model used vehicles online before you start shopping. Learn how you can finance your car online to save cash.