When you’re considering your next vehicle purchase, you may be stuck between buying a new or a used car. While buying a new car is relatively straightforward, those considering a used or certified pre-owned vehicle may have more questions about their options, such as what to look for and the steps to take. If this sounds like you, Terry Labonte Chevrolet is here to assist.
In our Used Car Buyer’s Guide, the team at Terry Labonte Chevrolet goes over how to determine which kind of car, new or used, is right for you, as well as what to look for when buying a used car, what is considered good mileage for a used car, and what steps to take once you’ve made your purchase. Learn everything you need to know about buying a used car for all your High Point travels with Terry Labonte Chevrolet.
Is it Better to Buy a New or Used Car?
Both new and used cars have their pros and cons. Take a look at the differences with each to decide whether a new or used car makes sense for your situation:
New Car Advantages
- Latest Technology: Financing a new car gives you access to cutting-edge technology, from safety systems to entertainment.
- Better Fuel Efficiency: With EVs and hybrids joining the market, the battle for the best fuel economy is on, with several manufacturers working to make their new vehicles more efficient than ever.
- Full Warranty Coverage: Buying a new vehicle means you typically end up with bumper-to-bumper and powertrain warranties that cover all the vital components of a car for a certain number of years or miles.
New Car Disadvantages
- Higher Cost: For all their new technology, efficiency, and warranty coverage, new vehicles come at a price. With less wiggle room for bargaining, a new car may strain your wallet.
Used Car Advantages
- Lower Costs: Buying a used car can help you save money not just on the sticker price but on your insurance rates and taxes as well.
- Slower Depreciation: When you buy a used car, whatever vehicle you choose has gone through the steepest depreciation period of its lifespan. This allows you to maintain your vehicle’s relative value for a longer period of time.
- Less Chance for Negative Equity: Because used cars cost less and don’t depreciate as fast, there’s a lower chance of you owing more on your car loan than what your vehicle is worth.
Used Car Disadvantages
- Higher-Cost Financing: While used vehicles for sale near Winston Salem tend to be lower in cost, choosing to finance a used car can lead to higher interest rates. Always do the math on your loan before signing to ensure you’re not overspending. You can use Terry Labonte Chevrolet’s payment calculator tool to assist.
What to Look for When Buying a Used Car
Once you’ve settled on buying a used or certified pre-owned vehicle, it’s time to consider what you should look for. When buying a used car from a local dealer, like Terry Labonte Chevrolet, here are some steps you should follow:
- Find the Right Car: Do a bit of research into the type of car that will fit your budget and lifestyle. Whether you need a fuel-efficient sedan for your daily commute or a heavy-duty truck for hauling, you should be able to narrow down your models and trims using reliable reviews from sites like Kelley Blue Book and Edmunds.
- Set Your Budget: Browse our inventory for an idea of how much your favorite models cost. Estimate your monthly payments and include other financial factors such as the value of your trade-in, minor repairs, gas, and insurance.
- Test Drive & Inspect Models: Once you have your budget and favorite models picked out, set up a test drive in Greensboro at Terry Labonte Chevrolet! If you’ve found a vehicle you’re very interested in, be sure to do a thorough inspection before committing.
- Explore Used Car Financing & Warranty Options: When you’re ready to sign the papers on your new-to-you vehicle, take a good look at all of your financing options as well as additional fees such as state sales tax, registration fees, potential tax credits, and potential warranty or coverage options.
What to Ask When Buying a Used Car
Before completing the deal and driving home to Kernersville in your pre-owned car, it’s important to ask a few questions during the test drive and inspection process. Ask these questions to help you get an idea of the used car’s condition before committing:
- 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?
One of the most important things to look for when buying a used car is the mileage. That said, mileage can be deceiving. Reidsville drivers typically put about 10,000 – 12,000 miles per year on their vehicle, leading some to stray away from vehicles with 100,000 miles or more on the odometer. That said, mileage shouldn’t be the only consideration when inspecting a used car. Think about the mileage combined with these factors for a more holistic idea of the car’s condition:
- Usage: A car driven 80,000 miles in stop-and-go traffic will have more wear on its components than a car driven 80,000 miles on the highway. Check the owner’s driving history, if available.
- Location: Used vehicles in a dry, warm climate tend to undergo less stress than vehicles with colder, wetter weather.
- Condition: If possible, have a certified mechanic inspect the vehicle to determine if there are aging issues, such as rust or mechanical problems.
- Maintenance: A car with high mileage and a thorough maintenance history may be a better bet than a vehicle with low mileage and no maintenance history. A well-maintained car can keep going well past the average 100,000-mile mark.
So, what is good mileage for a used car? It depends. If you find a used car with 50,000 miles that has been well-maintained, it’s likely a good buy. The converse can also be true– even cars with as little as 20,000 miles on their odometer can lead to expensive maintenance and repair if the car was not properly maintained by the last owner.
What Steps to Take After Buying a Used Car
After you’ve done all your research and taken a test drive, it’s time to sign on the dotted line! That said, your used-car-buying journey isn’t quite over. There are still a few steps after buying a used car to ensure you stay on the road for years to come:
- Get Insurance: Don’t leave the lot until you know your pre-owned car is covered! It’s illegal to drive without insurance, so make sure you’re covered within a day of your purchase.
- Transfer the Title: When you buy a used car from Terry Labonte Chevrolet, we take care of this part for you. However, if you buy from a private seller, you’ll need to transfer the title yourself at the DMV.
- Register the Car: If you buy from a dealership, the dealer typically takes care of this task for you. If buying from a private seller, though, this involves another trip to the DMV.
- Choose a Mechanic You Trust & Schedule Service: For qualified service and expert assistance, Terry Labonte Chevrolet’s service team is here to be your local Greensboro mechanic. Schedule service online, and our team will be happy to help get your used car ready for the road with a quick tune-up.
- Review the Owner’s Manual: Familiarize yourself with your new vehicle. Make note of any maintenance schedules, parts recommendations, and unique features that will elevate your driving experience.
- Check for Recalls: If you forgot to mention this while buying the vehicle, now is the time to check for any manufacturer recalls over mechanical or technological failures.
- Consider Extended Warranties: If you bought a certified pre-owned model, or any vehicle not sold “as-is”, you may be able to protect portions of your vehicle in case of failure. Research extended warranty options with our finance department.
Discover Your Next Used Car for Sale at Terry Labonte Chevrolet!
Now that you know what to look for when buying a used car and what is considered good mileage for a used car, you’re ready to start your search with Terry Labonte Chevrolet! Browse our inventory of used and certified pre-owned cars, trucks, and SUVs in Greensboro to discover your next new-to-you vehicle. When you’re ready to set up a test drive, contact us online or at (336) 268-8078, and we’ll put you in the driver’s seat!
