New or Used: The Main Decision When Car Buying

For people who visit local car dealers in Hammond, LA looking to buy a car, there's often a single decision that will influence their entire purchase: whether to buy a new or used one.Purchasing a new automobile fresh from the factory is quite a bit different from putting down money for a vehicle that's been around the block a few times. One aspect of this is that you don't have to check a new car's background history to see if it has been involved in any accidents.

Though many people think that buying new will always win out, there are several factors to consider. The first is whether your credit is good—having excellent credit means you'd be able to borrow more with your car loan at a lower interest rate, which expands your buying options; buying new would be preferred in this scenario. If you don't, used cars are probably more within your budget. 

The next thing to consider is whether you can maintain a used car. Pre-owned vehicles often need a bit more TLC than new ones.

Finally, the biggest reason you'll want to buy used is to avoid the depreciation hit. Most cars lose up to two-thirds of their value within three years of purchase. That's a lot of money you can save. The final decision is up to you though; carefully consider the pros and cons and make your choice.