New vs Used: Which Makes Sense for You?
The decision goes beyond price. Depreciation, warranty, reliability and how long you plan to keep it all matter.
The decision between new and used goes well beyond the sticker price. Depreciation, warranty, reliability and how long you plan to keep the vehicle all shape the real cost.
The Case for New
A new vehicle offers predictable history and full warranty coverage, but loses a significant share of its value in the first few years.
The Case for Used
A used vehicle lets someone else absorb that early depreciation, but carries more unknowns about how it was driven and maintained.
- Depreciation is steepest in the first three years
- Warranty coverage favours new vehicles
- A used car's history is a known unknown — verify it
Think about how long you plan to keep the vehicle. A longer ownership horizon makes the depreciation hit of a new car easier to justify.
Whatever you choose, set a total budget — not just a monthly payment — and compare the true cost of ownership, not just the sticker price.