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Should I Buy a New or Used Car?
01/29/2021
You’re ready for a new set of wheels! Should you buy new or used?
The pros of new cars:
- Instant status symbol
- Fewer repairs
- Easier shopping
- More financing options
- Automaker’s warranty on the first three years or 36,000 miles
The cons of new cars:
- Higher price
- Instant depreciation
- Higher insurance premiums
The pros of used cars:
- More affordable
- Less depreciation
- Lower insurance premiums
- Lower total interest paid over the loan terms
Cons of used cars:
- Complicated purchase, including a mechanical inspection
- Fewer choices of colors and features
- Risk of a defective purchase
Whichever choice you go with, let Coastline finance your next ride!
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