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Should You Buy a New or Used Car?

New vs Used CarIt used to be a no-brainer - when it came to buying a car, it was almost always better to buy used instead of new.

Not anymore.

Used car prices are the highest in years and will remain that way until 2013.

Currently there's a shortage of 2- to 5-year old used cars which makes them hard to find � and expensive.

Leasing hit a low point, which means lease returns will decrease over the next few years. Dealers depend on lease returns and trades for their used-car inventory.

While used car prices are higher, new car prices are lower.

Manufacturers are offering huge incentives (rebates, low-interest loans, special lease deals, etc.) on last year's models as well as brand new 2011 models. In many cases, these incentives actually make a new car cheaper than its previous year used model.

Still, if you're buying an older used car in good condition, the old rules still apply.

But if looking for a relatively new used-car, compare the price with the deal you can get on a brand new model. Even if the used model is cheaper, consider the full new-car warranty, lemon law protection, and updated features of the brand new car.






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About The Author

Gregg Fidan Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

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March 2024

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I welcome your car buying questions. Email Me and I'll be glad to answer them!





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