New vs Used Car in Canada: 3 Great Reasons for Each

Posted on November 15, 2022

Is your old car failing you and it’s time to move on? You’ve got two choices; new vs used cars, and they both have positive and negative attributes. You can of course go to a dealership and buy a car brand new, or you can hit the used market to find your next car instead? How can you possibly decide which of these two options is better for you? Well that's what this article is here to help you with. 

3 Reasons to Buy New

Let's start by exploring the advantages of shopping on the new market, the biggest of which is the most obvious: new cars are new. They come with all the latest technology and luxuries, they’ve never been used before so everything is in perfect condition, and depending on what kind of dealership you’re buying from they may even be specified to your instructions, meaning that you can get in and chose exactly the details you want, like colour and interior lining. 

New cars are always going to be the most fuel efficient cars on the road. Not just because they're new and don’t have any degradation causing excess fuel consumption, also because as technology improves so does fuel efficiency, and cars are getting more and more efficient with every model released. 

If you’re looking to buy an electric or hybrid vehicle, which more and more new cars are going to be as we move forward, then an extra incentive to buy new is federal tax rebates on your purchase that will not be applied if you buy used. 

3 Reasons to Buy Used

So why buy used then? Well all of those luxuries of a new car come at a cost, a literal financial cost. Used cars are significantly cheaper to buy than new cars, which will almost always require you to get a loan in order to buy the car, whereas with a used car that’s usually not the case and you can pay the entire thing in cash, especially if you’re buying privately. 

Used cars can save you in other ways as well. A used car is significantly cheaper to insure and because they’ve already passed the point of most depreciation, their value will decrease less over the course of your ownership than a new car would. 

What the used car market lacks in optimization, it more than makes up for in choice, as a matter of basic mathematics there are significantly more used cars on the market than new cars.

Hopefully this article helps you make the decision between buying a new vs used car! When you're ready to move forward, we'd love to help you. Click here to get started!