Used Car Buyer's Guide

 
Are you ready to replace your current car? If so, you might be wondering, “Is it better to buy a new or a used car?” The right choice for you depends on your finances and what you’re looking from your ownership experience. While a lot of drivers prefer new cars, many Raleigh car shoppers go for used cars because they’re more affordable. How do new and used cars compare? Hendrick Chevrolet Cary compares new and pre-owned cars below!

What’s the Difference Between New & Used Cars?

New Car Benefits

• Newest Technology: New cars come with the latest technology from their respective brands. If you’re a tech enthusiast, you might be more satisfied with a new car. Still, you can go for a late-model used car with comparable technology features, although you’ll pay more than you would for an older car.
• Greater Fuel-Efficiency: For many car shoppers in the Apex area, good fuel efficiency is a requirement. Compared to new cars, many pre-owned cars aren’t as fuel-efficient, but that doesn’t mean fuel-friendly used cars are available.
• Full Warranty Coverage: New cars are backed by warranty coverage. Certified pre-owned cars are also backed by warranty coverage, but they usually cost more than regular used cars.

What to Consider About New Cars

• More Expensive: New cars are more expensive than used and certified pre-owned vehicles. And, when the warranty coverage expires, you’ll be responsible for paying for any repairs or maintenance your car needs.

Used Car Benefits

• More Cost-Effective: If you’re ready to buy your next car, buying a pre-owned vehicle might be a good option if you want to save money. Used cars are less expensive than new vehicles.
• Slower Depreciation: As soon as a car leaves the dealership, it begins to depreciate in value. It’s different with use cars; used cars have already depreciated in value. They continue to depreciate, but at a much slower rate.
• Less Chance for Negative Equity: If you have “negative equity,” you owe more on your car than what it’s worth. So, if the car ever becomes undriveable, you’ll still owe money on a car you can’t drive.

What to Consider About Used Cars

• Higher-Priced Financing: While used cars are less expensive than new cars, they tend to come with higher interest rates. This leads to higher monthly payments that what one might expect for a used car. On the positive side, those higher payments can shorten your loan term.

What is Good Mileage for Used Cars?

When drivers in Raleigh think of “low mileage used cars for sale,” they generally picture a vehicle with under 100,000 miles on the odometer. However, there are many factors to keep in mind when sorting through your pre-owned options.

• Miles vs. Age: Most drivers travel 10,000 to 12,000 miles per year. So a 1-year-old car with 40,000 miles has been driven much more frequently than a 5-year-old car with 60,000 miles on it.
• Year of Manufacture: Newer models from the last decade are more dependable than ever before, and you might get well over 200,000 miles out of a well-maintained model!
• Maintenance: Maintenance plays a huge role in a car’s longevity, so a neglected vehicle with 15,000 miles might actually be a riskier buy than a 30,000-mile car that has never missed an oil change. Consider asking for proof of maintenance to be safe!

Other Tips and Tricks for Buying Used

• Model Generation: Some model generations are successful, and others are not. Be sure to check reputable sites like Kelley Blue Book or Edmunds.com for reviews on your particular model year.
• Vehicle History Report: Vehicle history reports disclose any repair reports, collisions, police records, and DMV records. These reports can reveal a lot about the car’s wear and tear.
• Location: A mild climate is easier on a vehicle than extreme heat or cold. When you get the Vehicle History Report, see where the car has been driven previously. This can give you a clue of any other potential issues to consider, like rusting.
• Foreign Luxury Car Brands: Foreign luxury vehicles might be fun to drive around Apex, but they can also be challenging when it comes to repairs. Consider buying Certified Pre-Owned to ensure that the vehicle is under a warranty.

What to Look for When Buying a Used Car

When it comes to used-car buying, the amount of options that are available to you can be overwhelming. Hendrick Chevrolet Cary is a new and used car dealer in the Apex area, and you can browse a wide selection of used vehicles that have been vetted for quality. When you’re ready to buy a used car, take the following steps to make sure you get the best possible model for you at a price that makes sense:

• Set Your Budget: Create a budget that allows you to get the car you need without breaking the bank. Determine how much you can put down as a down payment, and how much you can pay on a monthly basis.
• Find the Right Used Car: Figure out what you’re looking for in terms of body style and features. Explore your used car options at Hendrick Chevrolet Cary and determine your needs. You can use websites like Edmunds or KelleyBlueBook to compare ownership costs and reviews.
• Test Drive & Inspect the Models: It can take some time to find the pre-owned vehicle that makes sense for your driving goals and budget. If possible, take the car to a mechanic you trust to make sure it’s in good condition before buying.
• Used Car Financing and Other Fees: After you’ve chosen your preferred used vehicle, apply for financing. You’ll need to factor other costs, such as sales tax and registration fees, into your budget. If you have a car to trade in, factor that into your budget as well, but as a credit.

What to Ask When Buying a Used Car

When you’re ready to start shopping for a used car, you’ll likely have a wide variety of options in front of you. You’ll need to narrow down your choices and find a model that fits for your budget and lifestyle. When you have a model in mind, ask yourself and/or the dealership the following questions:

• Do the amenities and features work like they’re supposed to?
• What is the ownership history?
• What is the vehicle’s mileage?
• Are there any current recalls on the vehicle?
• How was the vehicle priced?
• Can I take the car to a mechanic for an inspection?
• Do you have the title in hand?
• Is the car as is, or is it under warranty?
• Does this vehicle affect your insurance premiums?
• Is there a history of maintenance?
• Is the vehicle history report available?

Steps After Buying a Used Car

After you purchase a pre-owned car, you’ll still have a few steps to take before you’re free and clear to enjoy your car. Keep the following in mind before, during, and after the vehicle purchase:

• Insure Your Car: If your car isn’t insured, you can’t drive it off the lot. You can reduce the amount of time you’ll spend at the dealership by getting insurance ahead of time, though.
• Transfer the Title & Register the Car: If you buy from a dealership like us, the finance department will handle the title transfer and registration for you.
• Choose a Mechanic You Trust: While finding a reliable mechanic can be tough, it’s certainly worth it. Hendrick Chevrolet Cary is a proud Hendrick dealership, and you can rely on us for expert service and OEM parts.
• Schedule Service: Ideally, your new-to-you vehicle has a well-documented service history. But, it may need a few small repairs, such as an oil change. Schedule a service visit to have it looked over.
• Review the Owner’s Manual: Read your owner’s manual to learn more about the different features your car offers and how to operate them.
• Check for Recalls: Watch for recalls that might affect your vehicle. If your car has an open recall, an authorized service center will complete the necessary repairs at no added cost to you.
• Consider an Extended Warranty: If you plan to hold onto your car for a while, an extended warranty might worth it. Make sure that you can use the extended warranty you choose at your preferred service center.

Find a Used Car for Sale at Hendrick Chevrolet Cary Today!

Are you ready to find your new-to-you car at a price you’ll love? Hendrick Chevrolet Cary is a premier new and used car dealer in the Raleigh area. Contact us online or call us at (919) 342-8649 to schedule a test drive with a used car near Holly Springs. Browse our pre-owned vehicle specials for even more opportunities to save on a high-quality used car that meets your needs.