Should You Buy a Used Ford or a New One? 4 Things to Consider

When looking at Ford vehicles for your next ride, you have to decide whether to go for a new or used one. Both options have great advantages, which can make the decision-making process difficult. So before you visit your local Ford dealer for a purchase, here are a few factors to help you choose wisely.

 

1. Budget and Financing

When deciding between a new and used car, you should consider your budget and ability to get financing. New cars are costly upfront, but they also come with financing offers and incentives from the dealer. If you have good credit, you can get vehicle financing with little or no down payment.

If you have no trade-in equity and are unable to get a good financing deal because of poor credit, you should consider getting a used Ford. Used Fords are cheaper upfront, which makes it easier to come up with a reasonable down payment. With the low initial cost, you will be able to pay off the used car faster than if you opted for a new one.

2. Lifestyle and Preferences

Do you want to experience the feel and excitement of driving a new Ford off the dealership lot? Are you big on the latest technology features and interior upgrades? If so, buying new allows you to experience the latest model and the newest tech features and upgrades Ford has to offer.

If you need a practical and reliable vehicle that gets the job done, a used Ford is a solid choice. The used car market has numerous models for you to explore. You can even opt for newer Ford models that are a few years old. For thousands less, you will enjoy advanced Ford technologies without incurring the huge cost of a new ride.

3. Depreciation Considerations

New vehicles undergo a rapid depreciation of up to 20% in the first year alone. If you are concerned about depreciation, you should opt for a used Ford. Once the initial buyer takes the hit on the initial depreciation, you will get the car for a lot less than if you bought it new. You can also sell the Ford at any time without worrying as much about taking a loss.

4. Reliability and Performance

Buying a new Ford guarantees excellent performance and reliability. The factory warranty offers further peace of mind and guarantees that any underlying defects will be fixed at no cost to you. However, this doesn’t mean that used cars aren’t reliable.

Well-maintained used Fords can still deliver years of solid reliability and performance. If you need assurance, you can opt for a certified pre-owned (CPO) model from your local dealer. Ford offers a 12-month extended warranty on certified preowned vehicles, ensuring you are covered if defects occur.

Consider these factors when deciding whether to buy a used or new Ford. Stop by Chestatee Ford and check out our extensive collection of new, used, and certified pre-owned vehicles.

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