If you’re shopping for a Hyundai but can’t make up your mind whether you want to buy a new or used vehicle, you can consult our chart below that outlines the advantages and disadvantages of each:
Advantages of a New Hyundai
- You don’t have to worry about the car’s history, such as if it’s been in any accidents or suffered excessive wear and tear.
- You get the safest, most fuel-efficient and technologically up-to-date version of the car you want.
- It will come with a manufacturer’s warranty, and you can always purchase an extended warranty for prolonged peace of mind.
- Hyundai is offering better financing programs with little to no interest rates, so it is relatively affordable compared to financing a used car.
- You can pick the exact model, trim, and options to customize the perfect car for your needs.
Disadvantages of a New Hyundai
- A new car will always be more expensive than a used car of the same model.
- A car’s biggest depreciation in value comes within the first couple of years after being driven off of the lot, so you will lose more of its value compared to having a used car for the same period of time.
- The insurance rates will be higher.
- The car won’t stay ‘new’ for very long, as it will quickly accumulate stains, dents, scratches, breakdowns, and so on.
Advantages of a Used Hyundai
- For around the same price as a new car, you can get a higher class model of a used car.
- A used car will have a lower cost, and therefore lower monthly payments, than getting the new version of the same model.
- Hyundai has a Certified Pre-Owned program that offers great value, quality, and peace of mind compared to other used car shopping.
- A used car that is only a few years old will still have avoided the biggest hit of depreciation, so you can resell it again in a few years for closer to the same price as you paid.
- Cars have their greatest period of reliability during the first 150,000 km or so, whereas used cars that are only a few years old means they won’t be anywhere close to having been used that much.
Disadvantages of a Used Hyundai
- If you do not do your research, you can still get bit by the car’s unknown history such as poorly repaired accidents, excessive wear and tear, and so on.
- Many people who lease a car or resell it after only a few years do not bother to rustproof the vehicle, or take other protective measures, to save themselves the cost and let the next owners deal with it.
- Even though used cars can be very reliable, you are still getting a car that is not brand new and will most likely require more servicing, maintenance and repairs than a new car.
Whether you’re buying a new or used car, it will still be a big financial investment on your part. You should always do a proper amount of research and due diligence to make sure you’re getting the right car that makes the most sense for your needs.