New vs. Pre-Owned - which one to choose?

Torn between a shiny new 2014 model versus a pre-owned 2013? Here are three points to consider, courtesy of Joe Gray, general manager at Northstar Chevrolet in Pittsburgh, Pennsylvania.

• Look at the upgrades. How do the technology, safety and design improvements in capability in the 2014 model compare to the 2013?
• Consider the operating costs. Does the new model offer better fuel economy or a free service contract that translates to significant savings? (Keep in mind that a relatively “young” (a 2013) pre-owned vehicle will most likely offer some type of a warranty, making it typically risk-free, says Gray. A one-year-old pre-owned vehicle purchased at a Chevrolet dealer will most likely be certified, and have undergone a stringent checklist that is kept on file for auditing purposes. Add in a CarFax report and possibly even a return or swap guarantee within a few days and being the second owner can be more than satisfactory.
• Decide between purchase and lease. “Manufacturers make leasing very desirable so that the average consumer can afford to keep a cycle of new cars/trucks in the household and enjoy all of the advances that are so quickly materializing in the vehicle market,” said Gray. However, if you prefer to keep your vehicles, that “used” status can save you big bucks on the purchase price—often many thousands of dollars compared to a new car.

The bottom line? “There is no wrong answer when due diligence is done with the consumer’s research,” said Gray. “In today’s highly competitive and dynamic car market, the consumer really is in the driver’s seat when purchasing a vehicle. With a little research and a dealer willing to listen to the consumer’s needs, it is difficult to make a bad decision.”