Is it Better to Buy a New or Used Car?

Vehicles on a dealership lot

If the time has come to upgrade your Lawrenceville commute with a new vehicle, you’ll probably ask yourself, “Should I buy a new or used car?” Both options have their benefits and potential drawbacks, and what’s best for one driver may not be for another. Rick Hendrick Chevrolet Duluth is home to a premium inventory of new Chevrolet vehicles, as well as a diverse selection of used vehicles. Compare new vs. used cars in the guide below to learn which option is better suited for your needs! 



Compare New vs. Used Car Pros and Cons

Is it better to buy a new or used car for your upcoming upgrade? Compare the pros and cons of new vs. used cars to learn what’s best for your Suwanee travels.

New Car Benefits

  • Modern Technology: A brand-new vehicle will come equipped with all the latest in-vehicle technology, performance, and safety features. 
  • Better Fuel Efficiency: Today’s new vehicles must compete in terms of fuel efficiency, and there are some high mpg ratings to match! As such, even a brand-new truck or SUV will deliver fantastic fuel economy. 
  • Full Warranty Coverage: When you buy or lease a new vehicle, you’re protected by the full coverage of the manufacturer’s new vehicle warranty. 

New Car Disadvantages

  • More Expensive: As you’d expect, new cars are higher-priced than used cars, and you also have to factor in the sales tax. Is insurance higher for new or used cars? New cars tend to be associated with higher insurance rates since their value is greater. 

Used Car Benefits

  • More Cost-Effective: Used cars have the advantage of reduced sticker prices. Additionally, you should see savings on insurance and registration. 
  • Slower Depreciation: It’s no secret that new vehicles, regardless of make or model, depreciate as soon as they’re purchased and driven off the dealership lot. Much of the depreciation occurs within the first few years, which puts you at an advantage if you purchase a used car because it will depreciate at a much slower rate.
  • Less Chance for Negative Equity: Thanks to the reduced depreciation on used vehicles, financing one puts you at less of a risk of becoming upside-down on the loan. 

Used Car Disadvantages

  • Higher Interest Rates: When you’re asking “Is it cheaper to buy a new car, or used?” it’s important to consider that used car loans often come with higher interest rates. You can certainly still save a significant amount by getting a used vehicle instead of a new vehicle, but you will need to consider the higher interest rates in your budget. 

Compare New vs. Used Cars at Rick Hendrick Chevrolet Duluth!

We hope you now feel more confident answering “Should I buy a new or used car?” for yourself! However, if you’d like some one-on-one guidance, you’re welcome to visit our dealership’s finance center near Johns Creek. Our team will listen to your needs and assess your budget to help you make a confident choice between a new vs. used car. Apply for pre-approval to kickstart the process, and value your trade to make your upgrade more affordable!

 

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*2024 Tahoe & 2024 Suburban 0% APR for 60 months. Monthly payment is $16.67 for every $1,000 you finance. Example down payment: 10.6%. Must finance with GM Financial. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery 6/30/2025..**Savings include all dealer discounts, conditional OEM incentives, and non conditional OEM stackable incentives. Savings vary by model and stock number. Not available with lease and some other offers. Not available with lease and some other offers. Take new retail delivery by 6/30/2025.***Well-qualified customers who purchase a new, used, or certified pre-owned vehicle, 4 model years or newer with less than 60K miles between June 1 2025 and July 31, 2025, and finance through a participating dealer and lender have the option to defer monthly payments for 90 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Equal monthly payments only. Not available to Pennsylvania residents; see your dealer for details. Must take retail delivery by July 31, 2025. See dealer for complete down payment and interest rate options and details.

*2025 Equinox EV | 2025 Blazer EV | 2025 Silverado EV 0% APR for 60 months for well-qualified buyers when financed w/GM Financial. Monthly payment is $16.67 for every $1,000 you finance. Example down payment: 19.5%. Must finance with GM Financial. Down payment required at signing, if applicable. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery by 6/30/2025.**To qualify for the GM Limited Time Special, you must: (1) be a current Costco Gold Star, Business, or Executive level Member by June 2, 2025; (2) register with Costco Auto Program online or through its call center by July 31, 2025, to receive a certificate with your unique promotion code; (3) present your certificate and unique promotion code to any Chevrolet dealer at time of visit; (4a) take delivery between June 3, 2025, and July 31, 2025, of a new 2024, 2025 Chevrolet Blazer EV, Equinox EV, or 2024, 2025, 2026 Chevrolet Silverado EV; (4b) take delivery between June 3, 2025, and July 31, 2025, of a new 2024, 2025 Chevrolet Colorado; (4c) take delivery between June 3, 2025, and July 31, 2025, of a new 2025 Chevrolet BrightDrop 400, BrightDrop 600 to receive a $2,750 Gold Star/Business Membership Costco member-only incentive or $3,000 Executive level Membership Costco member-only incentive. Incentive will be applied at time of eligible purchase or lease and is compatible with current eligible manufacturer incentives for which you qualify. Incentive is subject to change due to vehicle inventory availability. Visit CostcoAuto.com/GM for full details. Costco and its affiliates do not sell automobiles or negotiate individual transactions.***For Current Lessees of a 2020 model year or newer GM or Non-GM passenger car or truck at least 30 days prior to the lease of a new GM vehicle through GM Financial. Customer remains responsible for current lease payments. Each dealer sets own price. $289/month for 24 months. Your payments may vary. Payments are for a 2025 CHEVROLET Equinox EV 2WD LT with an MSRP of $34,995. Based on due at signing amount of $2,399 (after all offers). 24 monthly payments total $6,936. Must show proof of lease. Option to purchase at lease end for an amount to be determined at lease signing. Lessor must approve lease. Lessee pays for maintenance, repair, excess wear and disposition fee of $395 or less at end of lease. No security deposit required. Payments may be higher in some states. Not available with other offers. Take new retail delivery by 6/30/2025.

*2025 CHEVROLET Equinox EV 0% APR for 60 months for well-qualified buyers when financed w/GM Financial. Monthly payment is $16.67 for every $1000 you finance. Average down payment is 22.6%. Some customers will not qualify. Take new retail delivery by 6/30/2025. **Savings include all dealer discounts, conditional OEM incentives, and non conditional OEM stackable incentives. Savings vary by model and stock number. Not available with lease and some other offers. Not available with lease and some other offers. Take new retail delivery by 6/30/2025. ***Well-qualified customers who purchase a new, used, or certified pre-owned vehicle, 4 model years or newer with less than 60K miles between June 1 2025 and July 31, 2025, and finance through a participating dealer and lender have the option to defer monthly payments for 90 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Equal monthly payments only. Not available to Pennsylvania residents; see your dealer for details. Must take retail delivery by July 31, 2025. See dealer for complete down payment and interest rate options and details.

*Savings include all dealer discounts, conditional OEM incentives, and non conditional OEM stackable incentives. Savings vary by model and stock number. Not available with lease and some other offers. Not available with lease and some other offers. Take new retail delivery by 6-30-2025. **Well-qualified customers who purchase a new, used, or certified pre-owned vehicle, 4 model years or newer with less than 60K miles between June 1 2025 and July 31, 2025, and finance through a participating dealer and lender have the option to defer monthly payments for 90 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Equal monthly payments only. Not available to Pennsylvania residents; see your dealer for details. Must take retail delivery by July 31, 2025. See dealer for complete down payment and interest rate options and details.

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Rick Hendrick Chevrolet Duluth 33.96436, -84.12224.