Some people prefer to buy new vehicles because they think that the quality is better. While this can be true in some cases, it is not universally accurate. Let’s take a look at why you may actually get a better car for less money buying a used Cadillac in Romeoville.
New Cars May Have Defects
If a model year is the start of a new generation for a vehicle, it is more likely that there will be problems with it. Therefore, you may have a better experience with a given vehicle if you choose an earlier model year. The good news is that vehicles made in the second or third year of a current generation tend to be more reliable. Furthermore, you get the remainder of any manufacturer warranty to help take care of any issues that do arise with a used vehicle.
Used Cars Depreciate Less
A used car will depreciate slower than a new car, and it will depreciate less compared to its sales price. This is because the sales price of a used vehicle is lower than the sale price of a new vehicle. To get the lowest rates of depreciation, aim to buy a used Cadillac in Romeoville that is in the current or previous model year.
Used Vehicles Come With Lower Monthly Payments
Since used vehicles cost less, they will generally come with lower monthly payments. Of course, the amount of your payment depends on many factors such as the loan term, interest rate and your down payment. If you can’t make a down payment in cash, you can turn in your current vehicle and get a credit toward your purchase. Dealers may accept a trade even if you have negative equity in your current car or truck.