5 things to consider when deciding between a new or used car

Dec 15 2020, 4:45 pm

In many ways, your car is an extension of your personality and lifestyle. And buying a car — whether you’re a first-timer or car veteran — is an exciting milestone and the epitome of adulting.

If you’ve ever bought a car or are in the market for one, you’ve likely been presented with a common, albeit challenging dilemma: new vs used. Tbh, there’s no universal answer to this question. Rather, each option has its merits and depends entirely on your personal needs.

Assessing and catering to these individual preferences is precisely what Lower Mainland’s Regency Auto is all about; from students to growing families and working professionals, their dealerships feature a range of new and used cars to suit just about every walk of life.

That’s why we’ve enlisted their expertise and put together a helpful index of things to consider when deciding whether new or used is right for you.

Budget

Toyota 4Runner/Regency Toyota

A key element to take into consideration before beginning your search is, of course, your budget.

One of the biggest benefits of buying a pre-owned car is its depreciation, which makes it cheaper to buy used versus buying the same model new. An additional benefit is that there are typically fewer fees involved in buying a used vehicle.

On the flip side, new vehicles often have programs and incentives available from their manufacturers, including cash rebates and incredibly low-interest rates that can work to your benefit.

Model

Do you have your heart set on a particular model, colour, or brand? These are all questions worth pondering as you shop around.

There’s something satisfying about finding a pre-owned “hidden gem” in a make or colour that’s been discontinued. It can give a used car a sheen of sentimentality and make it feel one-of-a-kind.

That said, if what you’re looking for is the best and newest model, a used car probably won’t cut it. Plus, a brand new vehicle is something you can completely call your own and make your mark on.

Technology

Lexus NX/Regency Lexus

The level of technology you need access to is an important factor that varies from vehicle to vehicle. If listening to music while you cruise is of equal importance, you may want to prioritize a newer model that has Apple CarPlay and Android Auto features.

Do you have a growing family or often find yourself having to navigate rough terrain that requires All Wheel Drive? Safety technology and fuel economy tend to improve with each vehicle redesign and new model, so this is a central factor to consider in relation to your lifestyle and purchase.

On Toyota and Lexus models as of 2015, you’ll find a suite of safety innovations and technologies available at no extra cost, like the Pre-Collision System (PCS), Lane Departure Alert (LDA), and Automatic High Beam (AHB).

Warranty

Warranties are a great way to ensure peace of mind knowing you have a safety net to fall back on should anything happen to your vehicle.

Regardless of whether you’re buying new or used, having a warranty is something that should be on your radar. This crucial feature is available on used and new models alike but will cost extra on a used vehicle — something you may want to factor into your budget. Talking with an expert at Regency Auto will help you find the best value for your specific needs.

Usage

Lexus ES/Regency Lexus

How you intend to use your prospective vehicle is worth contemplating prior to making the jump. Will its primary function be getting you from Point A to Point B, or are you planning on taking long road trips on the regular?

A brand new vehicle may be better equipped for longer hauls, but might also have kilometre limits should you choose to lease.


There’s no such thing as one-size-fits-all when it comes to finding the right car, but the experts at Regency Auto can help steer you in the right direction when it comes to making an informed decision.

For anyone looking to upgrade their ride, Regency Lexus and Regency Toyota is offering a $1,000 top up trade-in bonus towards vehicle upgrades until January 31, 2021. Just mention the “$1,000 Daily Hive Trade-In Bonus” before the vehicle appraisal to redeem the offer.

During the month of December, both dealerships are also hosting a 2020 Clearout Event and Year-End Used Car sale. You can visit their website to learn more about the ongoing offers and explore the best vehicle options for your future.

It’s a great time to score impressive deals on an in-stock new or used vehicle and start the new year off on fresh wheels.

This content was created by Hive Labs in partnership with a sponsor
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