New Car vs. Used Car in 2024: Choosing Your Perfect Ride

Ready to cruise in a set of wheels, brand new or like-new? This guide will help you navigate the key factors in 2024’s car market and answer the question: Is it better to buy a new or used car in 2024? Whether you opt for a fresh-off-the-lot beauty or explore the diverse world of our pre-owned vehicles, we’ll equip you with the knowledge to make the smartest choice for you. Dive in as we explore the pros, cons, and what to consider for both new and used cars in today’s unique market. Head to Portsmouth Ford to view our current inventory or shop online today!

The Allure of New: Pros and Cons of Buying a New Car

Picking between new and used? Let’s weigh the pros and cons of driving off in a new car this year.

The Plus Side of New: Pros of Buying a New Car in 2024

There is nothing like getting behind the wheel of a new car that nobody has driven but you. Here are a few of the advantages of buying a new vehicle:

• The Latest and Greatest: Enjoy cutting-edge technology, up-to-date safety features, and fantastic fuel efficiency.
• Unblemished Beauty: Savor the pristine, factory-fresh condition and full warranty coverage.
• Peace of Mind: You’ll experience the comfort of knowing you’re the first owner, and potential problems are less likely.

The Downside of New: Challenges of Buying a New Car in 2024

While there’s a lot to love about a new car, there are also some roadblocks to consider in today’s market when considering if it is better to buy a new or used car in 2024.

• Sticker Shock: New cars can put a bigger dent in your wallet upfront compared to used options.
• Driving Down Value: Be prepared for new cars to depreciate quickly, meaning they lose a significant chunk of their worth as soon as you drive them off the lot.
• Slimmer Pickings: Supply chain issues might limit the availability of specific new models or features you desire in 2024.

The Pre-Owned Path: Pros and Cons of Buying a Used Car in 2024

New cars aren’t the only choice in town! Let’s explore the advantages and considerations of going the pre-owned route in 2024.

Upsides of Going Used

Is it better to buy a new or used car in 2024? Here are some of the positives to opting for a used vehicle:

• Budget-Friendly: Used cars offer significant savings compared to their new counterparts, stretching your dollar further.
• Slower Value Drop: Used cars have already taken the biggest hit on depreciation, meaning you lose less money over time.
• More Variety: With a wider selection of models, years, and features to choose from, you’re more likely to find the perfect fit for your needs and budget.

Downsides to Consider

While buying a used car opens a world of possibilities, there are also some things to take into account:

• More Research: It’s crucial to thoroughly research the car’s history to avoid any hidden problems.
• Warranty Options: Used cars may have limited warranties or none at all, so consider additional coverage options.
• Potential for Repairs: As with any used car, especially those with higher mileage, there’s a chance of needing more frequent repairs down the road. Luckily, our service technicians use state-of-the-art technology and are prepared with extensive industry knowledge!

The CPO Advantage: Why Consider a Certified Pre-Owned Vehicle

We offer a wide variety of Certified Pre-Owned vehicles, including a large selection of Ford Blue Advantage options. Plus, we’re a MotorTrend Certified Dealer! While new and used cars each have their pros and cons, there’s a middle ground worth exploring whether it is better to buy a new or used car in 2024. Each CPO car undergoes a rigorous multi-point inspection to ensure top quality and avoid any surprises. You can also expect additional warranty coverage beyond the original manufacturer’s warranty, providing protection for unexpected repairs. Other added benefits come from peace-of-mind roadside assistance programs, offering help in case of a flat tire, dead battery, or other unexpected hiccups on the road. In essence, CPO vehicles combine the affordability of a used car with the peace of mind and some of the security of a new car.

New Car vs. Used Car Interest Rates in 2024

When deciding if it is better to buy a new or used car in 2024, it’s important to consider interest rates. Traditionally, new car loans offered lower rates, but the gap has narrowed to 2-4 percentage points. The pandemic’s lingering impact might present opportunities for good deals on pre-owned vehicles. The key takeaway here is to weigh the pros and cons. Consider financing options, incentives, depreciation, and current car prices before making your decision.

Shop New or Used

Still unsure if it is better to buy a new or used car in 2024? At Portsmouth Ford, we’ve got you covered either way! Choose from our extensive selection of new Fords or explore our high-quality used inventory from other brands. Visit Portsmouth Ford today to take a test drive and discover your perfect new or used car!

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