Deciding between a new or used car at the Chevy dealership can be a tough decision. Both options have upsides and downsides that you should consider before making your choice.
1. Your Budget
Your budget is often the most important consideration. New Chevys come with the latest features, but also with higher price tags. Used Chevys are more affordable upfront, but might carry hidden costs in repairs down the road and lower fuel efficiency.
2. Vehicle History
With a new car, you get a clean slate: no wear and tear, no previous accidents, and a full warranty. When you buy a used car, you’ll have to research to find its maintenance history, accident records, and overall condition. Certified pre-owned (CPO) programs are an alternative that can offer peace of mind, providing manufacturer-backed warranties and thorough inspections.
3. Technology and Features
If having the latest technology, safety features, and modern fuel economy is important to you, a new Chevy might be the way to go. Used Chevys might lack the newest innovations, but you can still get the essentials at a more affordable price.
4. Insurance Costs
Insurance rates can be higher for new vehicles due to their higher value and repair costs. Used vehicles are usually cheaper to insure. Check your insurance rates for any car you want to buy before purchase.
5. Financing Options
New cars often come with attractive financing deals, including lower interest rates or cash-back offers. Used cars typically have higher interest rates, but the overall loan amount will be lower. Assess the total cost of financing when considering your options.
6. Depreciation and Resale Value
New cars depreciate quickly. They will lose a significant part of their value in the first few years. Used cars have already taken that depreciation hit, possibly offering a better deal if you plan to resell the car in the future.
7. Warranty and Maintenance
New Chevys come with comprehensive warranties, reducing the cost of maintenance in the initial years you own them. Used cars may have limited warranty coverage or none at all. That can lead to higher out-of-pocket costs for repairs.
Shop for New or Used Vehicles at Your Chevy Dealership
Whether you decide to purchase a brand-new car or prefer a used model, you can find what you’re looking for at your local dealership. We’d be happy to discuss your needs and help find an option that works for you. Visit Hank Graff Chevrolet in Davison, MI, to browse our inventory of new and used vehicles.
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