When it’s time to purchase a vehicle at the Kia dealership, choosing between a new or used car can be a challenge. Here are a few points that might help you decide.
1. Depreciation
New cars depreciate quickly, and most vehicles lose a significant part of their value within the first few years. While you’re getting the latest model with all the newest features, you also have to absorb the largest loss in value.
Used Kias have already undergone the largest part of their depreciation. A used car depreciates more slowly, meaning it keeps its value better over time. This is useful if you plan to sell your car someday.
2. Cost
The sticker price for a new car will be higher than its used counterpart. However, new cars often come with dealer incentives, warranties, and sometimes even lower financing rates, which might help defray the higher price tag.
Used cars generally cost less upfront. However, older vehicles can cost more to maintain and repair. This is especially true if they’re old enough that the warranty has expired. Carefully consider the car’s age and condition to estimate what it will cost you to maintain.
3. Warranty
New Kias come with a manufacturer’s warranty, which covers multiple components for a certain number of years or miles driven. Under the warranty, major defects or issues are typically repaired at no cost to you.
What type of warranty remains on a used Kia will depend on its age and mileage. If the car is out of warranty, you’ll be responsible for all repair costs. However, certified pre-owned (CPO) Kias usually include a warranty extension after a thorough inspection.
4. Features and Technology
A new car will come equipped with the latest in safety features and technology. It may even have improved fuel efficiency compared to older models. While a used car may not have the latest features, many recent-year models still offer modern conveniences and safety technologies.
5. Insurance Costs
Insurance premiums for new cars are generally higher. This is due to the higher value of the vehicle and the cost to repair or replace it. Check insurance rates for the specific model you are considering before you choose to buy. Insuring a used car usually costs less. The vehicle has a lower value, so it costs less for the insurance company to repair or replace it in the event of an accident.
Deciding Between a New or Used Car at the Kia Dealership
No one can tell you which choice is right for you. It depends on your budget, lifestyle, and long-term goals. No matter what you choose, Kia has a range of options to suit your needs.
Ready to get behind the wheel of a new or new-to-you car? Swing by Superior Kia and take a test drive.
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Warranties include 10-year/100,000-mile powertrain and 5-year/60,000-mile basic. All warranties and roadside assistance are limited. See retailer for warranty details.