Is it Better to Buy a New or Pre-Owned Car?

2022 Mercedes-Benz GLA SUV with Woman Locking Car

Is it time to enhance your Kettering commute with a new or pre-owned car? To help with your tough decision, we’re comparing new vs. pre-owned cars so you can decide which is better suited for your driving needs and budget. At Mercedes-Benz of Centerville, we’ll help you find your next luxury vehicle in a stress- and hassle-free environment.

 


New vs. Pre-Owned Cars: How Do They Differ?

New Car Advantages

  • Greater Fuel-Efficiency: Newer vehicles are getting replaced with turbocharged motors designed for more impressive fuel economy ratings.
  • Newest Technology: Buying or leasing a new vehicle gives you access to the latest features and technologies from the Mercedes-Benz brand.
  • Full Warranty Coverage: Your new vehicle is protected by bumper-to-bumper and powertrain warranties covering most of its components for a certain amount of years and miles.

New Car Disadvantages

  • More Expensive: New cars will cost more than pre-owned and certified pre-owned vehicles. And once the warranty ends, repairing the car or replacing parts can get expensive.

Pre-Owned Car Advantages

  • More Cost-Effective: Buying a pre-owned car is excellent for shoppers looking to save while still getting a top-tier vehicle the Mercedes-Benz brand is known for.
  • Slower Depreciation: A new car’s value diminishes once you leave the dealership. Since pre-owned vehicles have already taken this initial depreciation hit, it loses value more slowly as it continues to age.
  • Less Chance for Negative Equity: This is when you owe more on your car loan than the vehicle is worth. So, if it’s lost or totaled, you can end up paying for a car that isn’t driveable.

Pre-Owned Car Disadvantages

  • Higher-Priced Financing: Lenders typically charge higher interest rates for pre-owned-car loans, which increases your monthly payments. However, the price of the vehicle is lower so your loan term can be shorter.

Find Your New or Pre-Owned Car in Centerville

Once you have compared your options, take a look at our new and pre-owned inventories to see if we have the vehicle that’s better suited for your Springboro commute and family vacations. Apply for financing today, then give us a call to schedule your test drive.

 

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