New vs. Used: Which Car Is Right for You?

New Vs. Used

Of all the choices you'll face about your next car — brand, EV, or hybrid, color, size — the first decision will be whether you want new or preowned. Our team has thoughts on this. In fact, they're divided into two camps, so we've outlined their feedback in this post. 

Team New Car

1. The most obvious draw is that every mile on your perfect new car was put on by you. You'll enjoy years of bumper-to-bumper manufactuer's warranty, where covered repairs won't cost you. Some manufacturers include free scheduled maintenance during this period.

2. Get exactly what you want, and with the latest and greatest features. You won't have to settle for what's on the used car lot, and you can choose the options you want.

3. Depreciation hits new cars hard, so choose the make and model wisely to protect your resale value down the line. Popular models known for reliability, like Honda CRV and Toyota RAV4, depreciate slower than other cars, and are easier to resell or trade in when the time comes. Consumer Reports lets you quickly compare makes and models for reliability, and see how value holds up over time.
4. Plan on a long-term relationship with your new car. Cars last longer today, so if you're investing in new, plan on hanging on to it and taking care of it to offset the high depreciation in the long run.
5. New car owners should consider GAP protection to cover the difference between what insurance pays and the loan balance, just in case the new car is stolen or totaled.

Team Used Car

1. The clearest advantage to buying preowned is that you avoid massive depreciation that happens to every new car the minute you drive off the dealer lot. In fact, some models lose more than 60% in value within just a few years. Preowned cars have already taken the initial depreciation and should be priced much lower than a similar new model. Depending on mileage, the manufacturer's warranty may even be in effect when you buy used.

2. New cars cost more in sales tax, bring bigger insurance premiums, and result in higher registration fees because of the likely higher cost than used.

3. Today's used cars typically last longer if you choose a reliable model, but you should still set aside money in case unexpected repairs pop up. You can typically purchase extended warranty protection on preowned cars to give you peace of mind, but you should have a trusted mechanic inspect any car you're seriously considering, especially when buying from a private party.
4. Preowned gets you more car for your money. If your budget can only afford a base model new car, you can often get a nicer used model or trim level, if that's what you're looking for.

No need for speed

Something our whole team agrees on is that you should never rush into buying a car. Do your homework, write down your needs and priorities, and get your financing preapproved before even looking for a car to make sure it makes sense for you today and tomorrow.

We make the homework easier with free and unbiased resources:

• How Much Vehicle Can I Afford Calculator
  See how much a car will cost you each month. This helps you shop for a car that won't stress you or your budget.

• Getting Started with Buying a Car Guide
  Evaluate your car needs and how you actually use your car.

• Your Roadmap to Buying a Used Car Guide
  While new cars can be tempting with shiny features and "new car smell," buying used is often the more affordable route. However, used cars come with their own set of trade-offs. So it's important to understand the full picture before making a decision.

• Free CarFax Report
  Our members can request a CarFax vehicle history report (a $40 value) at no cost. It's one more important tool to have as you evaluate a used car.

Earn Up to $200 Cash Back

If after you do your resarch you decide it's time to buy a new or used car, check out this special offer. Members who fund an eligible auto loan of at least $15,000 can take advantage of this special offer on new purchases and qualifying refinances. Learn more here.

Offer ends August 31, 2026. All loans subject to approval. Restrictions apply.

Member-Only Special Pricing

Our members can take advantage of exclusive pricing at Kirby Auto Group in Ventura, including vehicles from Kirby Subary and Kirby Kia. Learn more here.