When it’s time to upgrade your Indian Trail drives, you’ll have two main selections of vehicles: new and used. Buying a new car, while relatively straightforward, can be costly, meaning that many turn towards pre-owned vehicles for a more affordable price. That said, buying a used model can take a bit of extra research and time.
Hendrick Porsche is here to help you navigate your next pre-owned car purchase with our Used Car Buyer’s Guide! Learn everything you need to know, from whether it’s better to buy a new or used car to the additional steps after buying a used car you’ll need to take to ensure a smooth transition. Continue reading so you can shop with confidence when you stop by Hendrick Porsche to find your next used luxury model!
Is it Better to Buy a New or Used Car?
Before diving into details like what to look for when buying a used car or what’s considered good mileage for a used car, Pineville drivers will want to make sure that a pre-owned vehicle is the right choice for their lifestyle and budget. Compare new vs. used advantages and disadvantages below to see what kind of model best suits your transportation needs:
New Car Advantages
- Modern Technology: Buying or leasing a new vehicle will get you access to the most advanced in-vehicle technology from your favorite manufacturers. Drivers can enjoy enhanced comfort, convenience, and connectivity on all their Matthews drives.
- Better Fuel Efficiency: As electrified hybrids and EVs enter the market, achieving high fuel efficiency ratings is now a major goal for many manufacturers. This means that, in general, any new vehicle you buy or lease will have better fuel economy than an older model.
- Full Warranty Coverage: Nearly every new vehicle you buy or lease will come with a new vehicle warranty, typically including bumper-to-bumper and powertrain protection for a number of years or miles on the model.
New Car Disadvantages
- More Expensive: While new vehicles have great advantages, these perks come at a price. New cars are much more expensive to purchase than used or certified pre-owned models and, once the warranty runs out, you may find the advanced electronics can create hefty maintenance costs.
Used Car Advantages
- More Cost-Effective: One of the biggest advantages of buying a used car is that they come at significantly lower prices than new ones. In addition, a used car will also offer further savings on insurance and taxes, giving drivers more wiggle room in their budgets.
- Slower Depreciation: The moment a new car drives off a dealer’s lot, the value of that car begins to diminish. In the first few years of a vehicle’s life, this depreciation is steep, leading to a large portion of the car’s worth being lost. Buying a used car allows you to skip the steepest depreciation phase so your vehicle retains its value over a longer period of time.
- Less Chance for Negative Equity: Used car owners rarely have to worry about negative equity. Negative equity is when you owe more on your car loan than the vehicle is worth. Thanks to slower depreciation and cheaper sticker prices, the chances of ending “upside down” on your used car loan are low.
Used Car Disadvantages
- Higher Interest Rates: There is one area of used car purchasing that can lead to higher costs: financing. Lenders tend to charge higher interest rates on pre-owned car loans, leading to higher monthly payments for the loan’s duration. That said, the loan term will be shorter and the overall loan amount smaller than if you had bought a new car.
What to Look for When Buying a Used Car
If you’ve decided that a pre-owned vehicle makes the most sense for your situation, then you’re ready to jump into the used car buying process! Discover what to look for when buying a used car and what factors to consider when you follow the steps below:
- Set Your Budget: The most important factor in any used car purchase is your budget. Most finance experts recommend your monthly car expenses shouldn’t exceed 10% of your monthly income. This includes everything to do with your car, such as your car payment, maintenance, repairs, and interest on your car loan.
- Find the Right Used Car: Once you’ve settled on a budget that makes sense for your situation, begin researching used cars that match that range on reputable websites such as Kelley Blue Book, Edmunds, and Car and Driver. Be sure to pay close attention to reliability ratings, safety ratings, and reviews from experts and drivers alike.
- Test Drive & Inspect Models: Search local used car dealers, like Hendrick Porsche in Charlotte, for the used car models you’re interested in. When you find a model that checks all your boxes, set up a test drive to get a feel for the vehicle’s performance. You’ll also want to perform an on-the-lot inspection to look for any issues or concerns.
- Explore Used Car Financing & Warranty Options: Ready to sign on the dotted line? Talk to our finance team to go over all your financing options, available warranty coverages, and any potential incentives or tax breaks your used car may be eligible for.
What to Ask When Buying a Used Car
During your test drive and inspection, you must ask questions about the vehicle you’re interested in to get a complete picture of its condition. Some of the questions you should ask before committing to a used vehicle include:
- Are there any current recalls on the vehicle?
- What is the ownership history?
- Do you have the title in hand?
- Is the vehicle history report available?
- Is there a history of maintenance?
- What is the vehicle’s mileage?
- Do the amenities and features work like they’re supposed to?
- Is the car as is, or is it under warranty?
- Can I take the car to a mechanic for an inspection?
- How was the vehicle priced?
- Does this vehicle affect your insurance premiums?
What Is Good Mileage for a Used Car?
As you shop for used cars near Stallings, you’ll likely find all sorts of options ranging in age, mileage, make, trim, and more. But, of all the important factors to look for when buying a used car, many prioritize mileage. What is good mileage for a used car? That depends on several factors.
There is no magic number that determines good mileage for a used car. Instead, mileage should be considered in conjunction with other “big picture” factors for a more holistic view of the vehicle’s condition. Some of those factors include:
- Usage: 75,000 miles spent in stop-and-go traffic will cause a lot more wear and tear than 75,000 miles spent on the highway. If you’re able to obtain the previous owner’s driving history, you can glean a lot of information on the vehicle and how much longer it can go.
- Location: Find out where the vehicle was driven before it arrived at Hendrick Porsche. A dry and warm desert-like climate will be much easier on a car than a cold, wet climate.
- Maintenance: Always ask about the maintenance history of a pre-owned car. If the previous owner was diligent about routine services, it will perform better for longer than if it hasn’t been maintained at all.
- Condition: When you shop at Hendrick Porsche, you can eliminate a lot of the guesswork about the used car’s condition. All of our pre-owned vehicles are inspected and reconditioned before they’re made available to buy. Additionally, our used cars come with a full vehicle history report available.
Since there is no one-size-fits-all answer for what good mileage is on a used car, it’s important to think about all of the factors together. For example, a pre-owned vehicle with 75,000 miles and a thorough maintenance history may be a better deal than a used car with 20,000 miles and no maintenance history. Always get all the information you can about the used vehicle you’re interested in before dismissing it based on mileage alone!
Take These Steps After Buying a Used Car
Found a pre-owned vehicle that’s perfect for your commutes through Indian Trail? Then it’s time to sign all the paperwork for your new ride! Take these steps after buying a used car for a seamless transition into your new-to-you vehicle:
- Get Insurance: Don’t drive off the lot until your car is insured! Driving a vehicle without insurance is illegal, so always make sure you’re properly covered before heading out onto the Charlotte roads.
- Transfer the Title & Register the Car: Buying a used or certified pre-owned model at Hendrick Porsche lets you skip this step. That said, if you buy from a private seller instead, you’ll need to gather the title and registration for a trip to your local DMV.
- Check for Recalls: If you forgot to check for recalls before purchasing, now is the time to do so!
- Choose a Mechanic You Trust & Schedule Service: Whether you’re looking for a recall service or a certified service and repair, a mechanic is integral to the continued health of your used car. For high-quality service in the Matthews area, choose Hendrick Porsche’s service team! You can conveniently schedule service online, and rest assured our qualified technicians will take the utmost care of your pre-owned model.
- Review the Owner’s Manual: Reading the owner’s manual is one of the simplest ways drivers can familiarize themselves with their new vehicle. Inside, you’ll find information on recommended maintenance and parts, as well as unique features you can enjoy while driving around Pineville.
Discover Used & Certified Pre-Owned Cars for Sale at Hendrick Porsche!
If you’re looking for a gently-used luxury model, Hendrick Porsche has you covered! Reach out to us online or at (980) 224-4657 to set up a test drive at our Charlotte location and experience top-notch service, financing, and more for your next used vehicle. Our team is eager to put you behind the wheel of a reliable used car, so stop by our dealership today and experience the Hendrick Difference.
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