Q: Is it better to buy new or used right now?
Whether to buy new or used is a question a lot of people are asking right now. While it depends on the situation, I often recommend that listeners consider buying new instead of used, after comparing prices.
Right now used car prices - especially used truck and SUV prices - are sky high due to demand. So that means in the current car market you won't save a lot of money for a late model used vehicle. That is especially true for factory Certified pre-owned vehicles which I always recommend if you're going the used car route.
If you buy new, you'll also have the opportunity to take advantage of new vehicle rebates and incentives, something that won't happen if you buy used. Finance Interest rates are also often lower if you buy new.
Of course what is true today may not be true tomorrow, so always take a look at pricing and compare specific models before making a decision. And of course, you can always drop me an email for my advice or give me a call on the Car Pro Show!
If there is one key takeaway I would share - it's to not just look at price when your car shopping, but to also consider the overall cost of new versus used. And always budget for what car you can afford.