Shopping for the perfect ride for your budget and lifestyle can be daunting. To help make your decision process easier, Champaign Ford City offers a few quick car-buying tips to help you decide on your next ride.
Both a lease and financing have benefits, but they depend on your own personal circumstances. Financing a car can be more expensive upfront than a lease, but worth it in the long run. Why? Because at the end of the financing terms, you own the vehicle outright.
Leasing has great benefits, too. Your initial payments will most likely be lower and because of the shorter terms of the lease, you’ll be unlikely to incur large repair fees typical of owning a vehicle. Plus, there’s the flexibility that comes with a lease. When the term is up, you can make a plan to keep driving your current ride, upgrade to a newer model with a new lease or simply turn in the car.
A new car comes with several benefits, such as full warranty coverage, no prior wear and tear, and the latest technology and features that can be an attractive option for some buyers.
Used cars come with benefits, too. A lower purchase price is the first thing that most people think of but there are other benefits like lower insurance costs, less depreciation and potentially more options available in the market.
Ultimately, it comes down to your specific situation: budget, preferences, how long you plan to keep the car, and your tolerance for risk (in terms of reliability and repairs).
One of the biggest advantages of certified pre-owned vehicles over pre-owned vehicles is the warranty. Certified pre-owned vehicles typically come with a manufacturer-backed warranty that extends beyond the original factory warranty. Most certified pre-owned cars also go through a thorough inspection and refurbishment process by the manufacturer or a certified dealership.
Pre-owned cars offer flexibility and lower costs when compared to certified pre-owned. You aren’t limited to vehicles that meet certain requirements for certified pre-owned vehicles, so your selection of potential vehicles is higher. Certified pre-owned cars often come with a premium for their certification, which includes inspection fees, reconditioning costs, and additional dealer markup. With pre-owned cars, you can avoid those extra costs.
An internal combustion engine is the name for the typical gasoline-powered engine that most vehicles operate with. It’s familiar to most drivers and has many different options so you can more easily select the one needed for your specific needs. There is also large, nationwide support and infrastructure for fuel that allows for travel virtually anywhere without too much planning.
A hybrid engine is a combination of both an internal combustion engine and an electric motor. The vehicle is powered primarily by the internal combustion engine but the electric motor helps in some situations, such as slow driving or waiting at red lights, to improve efficiency. Hybrids are a great option for drivers who don’t want to jump into a fully electric vehicle right away. You can take advantage of the fuel savings without having to change to a completely electric vehicle.
Electric vehicles are completely powered by electricity and can be an attractive option for those looking for an environmentally efficient ride. There is a battery and an electric motor that sends power to the wheels. Electric vehicle batteries are much larger than those in hybrids and must be plugged into a charging station or home charging setup. This can be a big deterrent for some because your traveling ability can be limited by the availability of charging stations. If this is true, a hybrid might be a better option.
Ultimately, what type of car you buy and how you choose to buy comes down to your specific situation: budget, preferences, how long you plan to keep the car, and your tolerance for risk (in terms of reliability and repairs). We hope that these car-buying tips have helped you make your next purchasing decision a little easier.
If you have more questions about buying your next car, feel free to contact us or visit Champaign Ford City in person. We’d love to hear from you and answer any questions you may have!
