Buying New vs Used
When you come for a new ride at Leachman Buick GMC in Bowling Green, KY, you can choose from a large selection of new and pre-owned vehicles. Each type has its advantages and disadvantages.
Buying New
You won’t have to worry about the reliability of your purchase because it comes with warranties that last for years. If a problem develops, you take your car in for servicing, and it’s resolved for free. Both Buick and GMC even give you a complimentary maintenance visit within the first year.
The main disadvantage to buying something new is the price. Kelley Blue Book states that the average price of a new vehicle in 2021 is $40,768, which puts such a buy out of the reach of many consumers. This cost can be offset somewhat by dealer incentives, which also makes financing easier and at a lower interest rate.
Unfortunately, new cars depreciate by as much as 20 percent when driven off our facility and by an additional 10 percent after the first year. If you do not figure this loss into your financing with a large down payment or trade-in, your loan goes upside-down or underwater: the value of your car is worth less than the amount you owe on it. If it is totaled or stolen, the insurance compensation you receive will not be enough to pay off the loan. You’ll need to come up with the difference out of pocket.
Buying Used
The drop in the sticker rewards you with lower monthly installments, less total interest, and lower total cost. You’ll pay off the loan more quickly and you’re able to afford a higher trim level or more options. However, the interest rates for used vehicles tend to be higher, and you can’t take advantage of any dealer incentives.
You also don’t have to deal with your loan going upside-down, especially if the vehicle is already two or more years old. Much of the depreciation has already been absorbed by the previous owner. Used cars have cheaper registration, taxes, and insurance simply because they cost less.
Reliability can be a factor with a pre-owned car. You don’t know what the car has been through and the condition of its components. It could stop running the minute you take it on the road. However, if your vehicle is only one or two years old, it may still be under the manufacturer’s warranty. You could bring it in for free repairs for any covered problems.
If you’re concerned about how well a used vehicle can run, you can confine your buying to Certified Pre-Owned selections. At Leachman Buick GMC, those vehicles go through a 172-point inspection and reconditioning process. They also come with a Limited Bumper-to-Bumper warranty for 12 months or 12,000 miles, and an Extended Powertrain Limited Warranty for six years or 100,000 miles.
With a used car, you have to take what you can get. You cannot order a different color or include different factory-installed options. You can add aftermarket components, which you’ll find at our Parts Department.
Starting Your Buy
Buying New
For many buyers, there is nothing like the look, feel, and smell of a new car. You experience the excitement of driving something that hasn’t been owned by anyone before. A new vehicle rewards you with the latest advances in automotive engineering and high-tech amenities. You can take advantage of unique features and safety assists that won’t trickle down to used vehicles until after many years.
You won’t have to worry about the reliability of your purchase because it comes with warranties that last for years. If a problem develops, you take your car in for servicing, and it’s resolved for free. Both Buick and GMC even give you a complimentary maintenance visit within the first year.
The main disadvantage to buying something new is the price. Kelley Blue Book states that the average price of a new vehicle in 2021 is $40,768, which puts such a buy out of the reach of many consumers. This cost can be offset somewhat by dealer incentives, which also makes financing easier and at a lower interest rate.
Unfortunately, new cars depreciate by as much as 20 percent when driven off our facility and by an additional 10 percent after the first year. If you do not figure this loss into your financing with a large down payment or trade-in, your loan goes upside-down or underwater: the value of your car is worth less than the amount you owe on it. If it is totaled or stolen, the insurance compensation you receive will not be enough to pay off the loan. You’ll need to come up with the difference out of pocket.
Buying Used
One of the chief appeals of buying a used vehicle is the price. J.D. Power puts the average cost of a used car at $25,463, which is far more affordable than a new version. You can also find cars that are far cheaper, if you go with vehicles that are older or have more miles.
The drop in the sticker rewards you with lower monthly installments, less total interest, and lower total cost. You’ll pay off the loan more quickly and you’re able to afford a higher trim level or more options. However, the interest rates for used vehicles tend to be higher, and you can’t take advantage of any dealer incentives.
You also don’t have to deal with your loan going upside-down, especially if the vehicle is already two or more years old. Much of the depreciation has already been absorbed by the previous owner. Used cars have cheaper registration, taxes, and insurance simply because they cost less.
Reliability can be a factor with a pre-owned car. You don’t know what the car has been through and the condition of its components. It could stop running the minute you take it on the road. However, if your vehicle is only one or two years old, it may still be under the manufacturer’s warranty. You could bring it in for free repairs for any covered problems.
If you’re concerned about how well a used vehicle can run, you can confine your buying to Certified Pre-Owned selections. At Leachman Buick GMC, those vehicles go through a 172-point inspection and reconditioning process. They also come with a Limited Bumper-to-Bumper warranty for 12 months or 12,000 miles, and an Extended Powertrain Limited Warranty for six years or 100,000 miles.
With a used car, you have to take what you can get. You cannot order a different color or include different factory-installed options. You can add aftermarket components, which you’ll find at our Parts Department.
Starting Your Buy
If you have any questions or want to buy a new or pre-owned vehicle, please give our sales consultants a call at Leachman Buick GMC. They can schedule a test drive to help you choose a favorite. If you want to save some time, you can pre-qualify for a loan through our handy online form. We’ll be able to check your credit and let you know in advance how much you can afford. You can then browse for cars within your price range.
Leachman Buick GMC Cadillac in BOWLING GREEN is Your Trusted Buick and GMC Dealer
Leachman Buick GMC Cadillac is your trusted Buick and GMC dealership in BOWLING GREEN and the reason why our loyal customers keep coming back. From the time you enter our showroom when you service with us, you can expect to be treated like family, each and every visit. We offer an extensive inventory, as well as our competitive lease specials, finance options and expert auto service. We are dedicated to providing exceptional customer service and being an integral part of our community. We look forward to seeing you soon!
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