How do i decide between buying a certified pre-owned car, new, or a used one?

Question

How do i decide between buying a certified pre-owned car, new, or a used one?

Answer 1

First, toss a coin to decide whether you are going to buy a new, or an 'old' car.

If it comes to buying an 'old' one, then toss coin again, to decide between buying a certified pre-owned car, or a used one. [Both are old !]

End of all problems !

Answer 2

OK - I've done car advertising for 10 years and the answer to this question depends on what you can afford and what fits your needs. Here's the short version of what I know.



New - All vehicles will depreciate as soon as you drive it off the lot. The rate of depreciation depends on what brand you buy. For example, a Toyota or Lexus retain their value better than most cars in the market. A Kia has possibly the fastest rate of depreciation. Look in Kelly Blue Book for older cars that are the same make & model that you are concidering, and you'll get the idea. When you finance the car, make sure you will not owe more than what the car is worth. My Corolla is worth $5900 and I owe $3900.



Certified Pre-Owned - This is a used car that has passed a maintenance check, been through reconditioning, and comes with a warranty. The certification is not free, like some people want you to believe. A certified car will have $500 to $2000 added to the sell price for the reconditioning and the warranty. If you are shopping the car ads...It is illegal in most states for a dealer to advertise something that comes with the car (or certification) as being free b/c it never is.



Used - Get a vehicle history report such as carfax. Know the NADA and Kelly Blue Book values. Your bank can also tell you what it's worth. Some credit unions will protect their members by inspecting the car before they approve the loan.

Answer 3

To decide on buying between a new, used or certified pre-owned, Know this much to begin with... once you drive it off the lot, it automatically becomes used and loses about 2000-3000 dollars in value instantly. However, certified pre-owned means they usually go through a rigorous safety check and condition check and may be able to get a fairly descent warranty with it. Used cars don't usually come with much of a warranty. The other consideration is what you have for trade in, down payment, interest rates, and dealer incentives. Insurance companies and finance companies now offer gap insurance making it possible to not owe anything should you get in a wreck with a new vehicle so that shouldn't really be an issue... Payments, and finances, safety and insurance rates are the primary concerns.

Answer 4

Don't get the new one, it will drop in value as soon as it is off the lot. If you get the certified, you get a warranty, but a cheaper car. I'd go certified pre-owned. Save your money and have the security of a warranty.

Answer 5

Depends on your budget. The cheapest would be a used car, then a certified pre-owned car, then a new car.

Answer 6

Being a student, you possibly do not qualify to finance. want reliable credit, an finished time job & income of a minimum of $1500 in step with month. qualified can recommend many stuff to many diverse motor vehicle a lot. it continually skill a a lot more advantageous cost although. id purchase from a private party and performance the motorized vehicle appeared at & keep one thousand or 2. only significant to no longer purchase with any paint or body artwork except you're saving so a lot more advantageous than some thousand.

Answer 7

Depends on the type of vehicle your looking for?.I personally wouldn't buy a "new" Toyota because they tend to drive fine up to 200,000 miles. What can you afford as your monthly "allowance" on a car? If I were you I would buy a "moderately" used Toyota, Subaru ,or Chevy. Just make sure you "carfax" whatever used vehicle you decide to purchase. Good Luck!

Answer 8

get a used car from a private party, make sure they seem to love the car, and have all documentation on services. dont but new, you lose too much value when you drive it off the lot.