Why Buy a Used Car Vs. a New Car?

Once a customer decides its time to purchase a vehicle, often the first question is whether to purchase a new car or a used one? While there are many pro's and con's to both new and used vehicles, the biggest differentiator will often be price. In fact, you can save up to 50 percent of the new car price on a used vehicle that's only 2-3 years old.

Another factor to consider when shopping for both new and used vehicles is how long you'd like to own the vehicle. There are certain customers that like to drive a new car every 3-4 years, in these situations often leasing a new car is the best option. If you plan to keep your vehicle long-term, a low-mileage used vehicle could accomplish this goal while saving you money off the new car price.

Financing a Used Car

Most dealerships work with several banks to find the best financing options available to you. Many customers also choose to secure their own financing for a used car through a bank or credit union. The amount of money you're approved for, and the interest rate on your used car loan, will vary based on your credit history and ability to pay back the loan. Other factors a bank will consider are the type of used vehicle you are purchasing and how many miles it currently has.

It is possible the bank will require either a larger down payment or a co-signer to approve your loan. An experienced salesperson or Finance Manager will typically walk you through this process and answer any questions you may have.

To quickly find out if you can be pre-approved for a used car loan today, please visit our Soft-Pull credit form. Because this is a "soft-pull" of your credit, it does not require your Social Security Number AND WILL NOT negatively effect your credit score.






How to Research a Used Vehicle


Buying a used vehicle doesn't need to scary or stressful. Most dealerships can provide you with a vehicle history report that discloses the vehicles background. Here is what to look for in the vehicle history report:

How many owners has the car had?

A used vehicle with one-owner is preferable. This is because it's likely the vehicle received a consistent level of care for as long as the individual owned the vehicle. If a vehicle has had several owners, it is possible that one owner treated the vehicle very differently than another. Having said that, a vehicle with multiple owners may be a great deal. Often the price will be lower with multiple owners, and if the mechanics of the vehicle are in good shape there is very little reason to not purchase a used vehicle just because it's had multiple owners.

How many miles does the vehicle have?

Many customers have concerns purchasing a used car with high miles, and they are right to question the health of this vehicle. However, if the used car, truck or SUV has been properly maintained and had regular oil changes and inspections, it is very possible the high mileage vehicle will run well for many more years. If you have concerns about a specific vehicle with high mileage, it may make sense to have an independent mechanic inspect the vehicle before purchase.

Does the vehicle have a recall?

If the used car truck or SUV you are purchasing has an open recall, you will want to have a conversation about fixing the issue before purchasing the vehicle.

Does the vehicle have an accident history?

The history report will disclose every time a vehicle was in an accident and there was an insurance claim against it. Depending on what was damaged in the accident, it may still make sense to purchase the vehicle, but you may want to have a mechanic review the areas that were repaired.

How old are the vehicles brakes and tires?

If you are purchasing a used vehicle from a dealership, often it will have new tires and brake pads. The vehicle history report will confirm this. If the vehicle does not have new brakes and tires, it is important to know hold old these current parts are and when you'll likely need to replace them.

What is the Vehicles service History?

When researching a used vehicle, you can ask the dealership for a service history report. This will show every known time the vehicle was serviced either at the current dealership or elsewhere. This will show if the previous owners regularly had the vehicle monitored and inspected.

Have questions about purchasing a used vehicle? Call Dealership Owner, Michael Jensen, anytime at 716-286-9402. You can also text "AskMike" to 37483.

Ask Mike!

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Hours

  • Monday 09:00AM - 08:00PM
  • Tuesday 09:00AM - 08:00PM
  • Wednesday 09:00AM - 08:00PM
  • Thursday 09:00AM - 08:00PM
  • Friday 09:00AM - 08:00PM
  • Saturday 09:00AM - 06:00PM
  • Sunday Closed

Contact

Joe Cecconi's Chrysler Complex

2380 Military Rd
Directions Niagara Falls, NY 14304-1563

  • Sales: 716-286-9089
  • Service: 716-286-9090
  • Parts: 716-286-9085