Deciding To Buy A New Vs Used Car In Utah
Last Updated on Wednesday, 31 December 1969 15:59 Written by Mike Ansel Friday, 01 January 2010 09:44
People buying Utah cars are often unsure about whether to buy used or new. Some people don't have any difficulty at all with such decisions, given that they can't afford to buy new, or their credit score isn't good enough to get the loan they would need. But if it's not clear-cut for you (and you could buy new if you decided to) maybe you should ask yourself the following questions. This might help you make the decision that's right for you.People buying Utah cars are often unsure about whether to buy used or new. Some people don't have any difficulty at all with such decisions, given that they can't afford to buy new, or their credit score isn't good enough to get the loan they would need. But if it's not clear-cut for you (and you could buy new if you decided to) maybe you should ask yourself the following questions. This might help you make the decision that's right for you.
The primary question to ask yourself is how seriously you perceive buying a car as making an investment. If your answer is, "None at all," you could very well be a used-car sort of person. On the other hand, if you think the other way around-that buying a car is mostly about making an investment-you should probably buy new from Utah car dealers.
If you don't fit either of these opposites (you're in the middle somewhere) you should answer a few other vehicle-related questions. You should ask yourself how crucial is driving a new car; how important is it to have the options you want, including color; how much would it bother you to lose lots of value in depreciation the first year or two of new-car ownership; how much would the higher monthly payments bother you; how capable and tolerant are you in handling vehicle repairs; how crucial is having a mechanical warrantee; how important is it for you to have the latest in safety and other features; how long do you plan to own the car; and how many miles do you drive in a year? When you answer these questions, pay attention to which way you lean and to what degree (towards buying used or new). With all leanings put together, you should see which way to go.
If you're stressing over financial considerations, and you're not sure how they apply to you, there are real-live bankers, online resources, and Utah car dealership financial managers to educate you. Here are a few general points: new-car loans typically have lower interest rates than used-car loans do-from one to three percent lower; longer loans usually come with higher interest rates than shorter ones do; and people who have excellent credit histories can often get zero-percent loans from Utah car dealers.
A few more points to consider: higher-priced, Utah new cars are likely to cost more in insurance than lower-priced Utah used cars; the more aged the used car, the greater its chance of having a breakdown that you can't afford or that it doesn't pay to fix; many Utah used cars in the one-to-four-year old category have full factory warrantees, and many older ones qualify for extended-warrantee purchases; and purchasing a one-year-old car can allow you to buy a much fancier car for the same price as a less-fancy, new one for the same price.
Utah car dealerships can help you look at all of your viable options for Utah used cars or Utah new cars.