Is it Better to Buy a New or Used Car?

If you’re looking for a quality luxury vehicle from Jaguar North Haven near New Haven, we have a few suggestions for you. You can look over our new vehicle inventory to see if a new F-PACE or F-TYPE speaks to your lifestyle in Wallingford. You might also love a certified pre-owned Jaguar that’s in like-new condition without paying a new vehicle price for your Branford jaunts. Or a used vehicle could be more budget-friendly for your drives in North Haven. 

Keep reading to learn whether it’s better to buy a new or used car from our dealership. If you have any questions, feel free to contact us or call 203-453-7060 to speak to our finance team.

Is It Better to Buy a New or Used Car From Jaguar North Haven?

Our team wants you to have the best vehicle for your lifestyle. If you don’t see something in our inventory, our vehicle finder service can locate the ideal car, truck, or SUV for you. Otherwise, you can look for a beautiful, high-performance luxury car or SUV from us after you decide if it’s better to buy a new or used car.

Advantages of a New Car in the New vs. Used Car Debate

• Newest Technology: Buying or leasing a new vehicle gives you the latest and greatest automotive technology. If you lease a new vehicle, you could have the best vehicle every two years.
• Greater Fuel-Efficiency: More and more automakers favor smaller turbocharged engines versus V6 or V8 powerplants. Smaller turbocharged engines have better fuel economy numbers. 
• Full Warranty Coverage: New vehicles give you better peace of mind because they come with bumper-to-bumper and powertrain warranties that cover most of the car’s components for a certain amount of years and miles. New Jaguar vehicles come with Jaguar EliteCare, the best-in-class, 5-year/60,000-mile coverage, which includes a new vehicle limited warranty, complimentary scheduled maintenance, roadside assistance, and Jaguar InControl® Remote & Protect™.

Disadvantages of a New Car With a New vs. Used Car

• More Expensive: New cars are much more expensive to purchase than used and certified pre-owned vehicles. You’ll pay more in sales tax. Your insurance premiums may also be higher because the insurance costs are based on the value of the new vehicle.

Advantages of a Used Car When Deciding on a New vs. Used Car

• More Cost-Effective: Purchasing a used car is more cost-effective, which is particularly good when you’re on a tighter budget.
• Slower Depreciation: A new car depreciates as soon as it leaves the lot. The average depreciation of a new car is 45% in the first five years! A used car has already depreciated a large amount of its value, so you’ll have slower depreciation. 
• Less Chance for Negative Equity: Negative equity is when you owe more on your car loan than what the car is worth. If your car becomes undrivable or totaled, you might still owe money on the car loan because the loan is a higher value than the insurance value of the vehicle. A used vehicle can lower your chances of this negative equity situation.

Disadvantages of a Used Car in the New vs. Used Car Debate 

• Higher-Priced Financing: You might see a higher interest rate on a used car versus a new car loan. However, your overall payments will likely be lower because the overall value of the vehicle is probably less than that of a new vehicle.  

Why Buy a Car at Jaguar North Haven?

We’re happy to help you find the car of your dreams. We have a wide selection of new, certified pre-owned, and quality used vehicles. Contact us or call 203-453-7060 to schedule a test drive with our team. If you have questions about car financing, ask to talk to our finance team! We’re happy to help in any way we can.