Is a New Car Worth it?

When you see all the car commercials on television, you may get the urge to go to a local dealership and look at the new models.  Every year the vehicles become more advanced, sleek in design, and have features that make it seem much better than your car sitting in the driveway.  When can you know if you should buy new or used vehicle?  Is it worth the price tag for a new car or should you try to find a used car with low mileage and a solid year and model?

One of the best tools you can use is the internet.  Research online what people are saying about the upcoming year models and if they compare to the older models.  You can also glean a lot of information by looking at the prices for the older models.  Most of the time you are not going to buy a used car with high mileage that is over five years old as there is no point to buying that type of car.  You may want to purchase a used car with lower mileage and one that is known to hold its value.  There are certain cars that will retain their value and others that will not.  If you are looking to buy a new or used vehicle, you may want to consider the fact that you may sell it down the road.  You can make the decision to buy a car that is a good deal right now but may not hold its value or buy a more expensive car that will be worth more in the long run.  You will need to consider whether you should buy new or used vehicle before you head to the dealership.

It comes down to whether or not you can afford the new car or the older car and the issues that can come with both options. The new car will have warranties, new features, but may also have a higher price tag, meaning a higher payment on your car loan in Toronto that will decrease quickly and the model may have deficiencies that are not yet known.  The used car may have some problems but the initial investment will be lower.  The question of should you buy new or used car in Toronto comes down to personal preference and budget.