Considerations When Buying a New Car: Robins Financial Credit Union

When you’re thinking of buying a new car,
one of the biggest decisions is: Used or New? It’s a big question, and there are
pros and cons to both. You may have heard that a typical new car loses about 10% of its value when you drive it off the lot. This is called depreciation, and it’s true – it’s one of the main reasons some buyers opt for used cars. But why consider new at all? Why pay this premium? There are a few reasons to consider a
new car despite the depreciation. The first is the reliability of a new car. Not only can you be confident that the car has
no hidden problems from a previous owner, but you will often have the backing of a robust manufacturer warranty… So if anything does go wrong, the
problem may well be covered. Another reason to consider a new car: your car will be more likely to have the latest
safety and technological features. Car makers are constantly making
improvements, and if you buy new you should benefit
from these innovations. And finally, there may also be a
cost advantage to buying new. Of course, the sticker price is higher than a used car, and you have the depreciation factor, but lenders will often give you a better
interest rate for a new car. So be sure to factor that into your calculation as you grapple with the big question of whether to buy used,
or new. And be sure to reach out to our Robins Financial auto loan experts if we can help with any other questions. For more information, call, click, or
visit any of our branch locations.

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