There are many benefits and drawbacks to buying a new car. But there are also just as many pluses and minuses to leasing a vehicle. Then, to top it off, you can also finance a vehicle or buy one cash. And both those options apply to new and used vehicles? But which option is right for you? It can seem so overwhelming, especially if you're a new driver searching for their first car. Not to worry, here at Burnes Crossing Kia, we're here to help you make the decision that's right for you.
Pluses and Minuses of Buying a New Vehicle
A new vehicle hasn't been used by anyone yet, so that's a definite plus. Everyone aspires to one day have a brand new car. New cars come with factory warranties, and sometimes when we run specials here, you'll even get complimentary maintenance through our service department for a predetermined period. On the other hand, new cars do depreciate, so if you're not looking to keep yours for a while, a new car may not be the best option.
Pluses and Minuses of Leasing a New Vehicle
When you lease a new vehicle, you get a new car every 2-4 years, which everyone loves. Additionally, you'll likely never need to do much maintenance, except in certain circumstances. Most lessees find themselves bringing their vehicle to us for regular maintenance like oil changes, and possibly, if applicable, tire replacements and brake replacements. Often, when you lease, your monthly payment is lower. On the other hand, if you keep a used car a long time and are willing to put up with potential repair costs down the road, you could eventually wind up not having lease payments if you finance or buy your car outright as opposed to leasing.
Buying or Financing a Pre-Owned or Certified-Pre-Owned Car
The advantage of buying or financing a used car is that you'll probably spend less than if you were to buy or finance a new car. However, you don't necessarily know who owned it before you, and you also may not get the latest safety or technology features. Plus, you probably won't be covered under warranty, unless of course, you get a certified-pre owned vehicle which is often a good middle option between buying new and used.
