A vehicle is one of the biggest purchases you will make, aside from a home, in your life. That puts a lot of pressure on consumers to make the right choice, both about the vehicle they purchase, and whether it is new or used. There are advantages to both methods, and a lot of the issue depends on your lifestyle. The complexity of the issue can leave many buyers confused. Here are some things to keep in mind when thinking about how to buy a Ford Edge in Chicago.
Cost and Financing
A used Ford Edge in Chicago will be less expensive than buying one brand new. The difference in price can sometimes mean you can get a newer or nicer model than if you purchased a brand new Ford Edge. Chicago dealerships also offer financing for both new and used vehicles, which, in most cases, depends on a variety of factors including your credit rating, the age of the vehicle, and the overall cost of the car. While some places offer lower financing on new cars, there is often GAP coverage that is needed, to cover the difference between the cost of the loan, and the value of the car once it is hit with depreciation.
Maintenance
Some dealerships offer free scheduled maintenance for a certain period of time after a new Ford Edge is purchased, which is a luxury not often extended to those who purchase used. Depending on how often you drive your vehicle, and how hard you drive it, this can lead to significant savings, which should be factored in your decision of how to buy a Ford Edge in Chicago. Used vehicles often require more maintenance than newer ones, which should also be factored in to the final price when you make your decision.
Depreciation
New vehicles depreciate significantly in their first year, some by up to forty percent. While used vehicles also suffer from depreciation, the amount lost is not nearly the same. Used vehicle owners also find that they incur less mental depreciation as well. New cars are wonderful to have, but there is the stress and worry about each scratch and that first ding. When you purchase your Ford Edge in Chicago used, the dings have already happened, making driving a bit less worrisome.
Insurance
Insurance rates are also affected by the age and condition of the vehicle, as well as your credit rating and the manner in which you will use the Ford Edge in Chicago. Generally speaking, however, insurance rates tend to be lower for used vehicles that those extended to new ones.
For more information on how to buy a Ford Edge in Chicago, including if you should purchase the vehicle used or new, contact us and follow on Twitter.