(NC) When you’re in the market for a new car, the search can be overwhelming and the options endless. So, where do you start?
If you’re comparing new and lightly used vehicles, pricing tools like
those available on Autotrader.ca can help narrow down the search by
scanning hundreds of thousands of listings in real time to let you know
if a vehicle’s price is great, good or fair.
“The price of a vehicle is usually the first thing people look at
when looking to buy,” says Michael Bettencourt, managing editor of
Autotrader.ca. “But the price tag doesn’t tell you the whole story.
Buyers need to take into account the total cost of ownership.”
New and used cars offer different price breaks. With new vehicles,
you’ll have the added security of predictable monthly payments with
traditionally lower interest rates. Repairs will also be covered under
warranty, saving you additional dollars down the road. On the other
hand, buying used gives you access to savings up front, since
depreciation has already been covered by a previous owner. You also
won’t have to worry about new-car fees. Ultimately, consumers should
look at their budget and lifestyle to decide whether a new or used
vehicle is right for them.
You’ll also need to determine if financing or leasing is your best
option. Financing spreads the cost of a vehicle over a period of time
until the vehicle is owned outright, but usually these payments are
higher than typical leasing payments. On the flip side, leasing is a
great option for those who want the flexibility to trade in every few
years and want to enjoy the latest vehicle designs and technology. But
be aware, you’ll also be responsible for excessive mileage and any
damage that may occur.
To ensure you make the best decision for your driving needs and get a
great deal on your new ride, make sure to do your research and explore a
variety of vehicles and pricing options.