New vs Used Cadillac: Everything You Need to Know
Shopping for a Cadillac comes with a ton of decision-making. After deciding on the model of your choice and whether you want to buy or lease, you will need to decide if you want to shop new or used. While both new and used Cadillacs come with pros and cons, they both have the power to affect your financial situation, so it’s essential that you choose wisely. To help you decide between the two, we’ve written this expert buyers guide that will break down the basics plus the pros and cons of new versus used in the world of luxury vehicles.
Differences Between New and Used Cadillacs
The main difference between buying a new Cadillac versus a used one is the impact it can have on one’s finances. Especially with Cadillac being considered a luxury brand. A study from the National Automobile Dealers Association showed that the average person purchases approximately 13 vehicles in their lifetime. With each vehicle averaging about $30,000, that same person could save approximately $130,000 if all thirteen vehicles were at least three years old at the time of purchase. At the end of the day, purchasing a new vehicle guarantees you will have the latest and greatest features, but buying certified pre-owned can save you an abundance of money.
Pros and Cons of Buying a New Cadillac
Buying a new Cadillac comes with a list of pros, including:
- Easy shopping. New Cadillacs are practically perfect, so you won’t have to worry about the condition of your vehicle and you will be able to determine the worth of the vehicle a lot easier.
- You’ll have more financing options. To entice buyers, Cadillac and our affiliated dealers offer many financing options and incentives.
- Better interest rates. New car loans tend to come with a lower interest rate.
- Advanced technology and features. On top of better performance and fuel efficiency with lower emissions, your new Cadillac will come with incredible safety features, top-of-the-line connectivity, and intuitive technology.
While the pros of buying new are highly convincing, there are some things you should be aware of before fully investing in a brand new Caddy. The age-old saying about your vehicle losing value as it leaves the lot is true. A study done by Nerd Wallet found that the majority of a vehicle’s depreciation takes place in the first two to three years of ownership, which translates to several thousand dollars. You also take the chance of facing more debt and higher insurance costs.
Pros and Cons of Buying a Used or Certified Pre-owned Cadillac
Like buying new, buying a certified pre-owned Cadillac comes with its own number of pros. This includes:
- Money saved. Along with having a cheaper ticket price, the previous owner of your Caddy will have already taken the depreciation hit so you won’t have to.
- You can take advantage of warranties. Most pre-certified dealers offer deals and strong warranties for used vehicles.
- Excellent resale value. Once you’re ready for a new or new-to-you Cadillac, you should be able to sell your certified pre-owned for the same amount that you bought it for.
- Access to solid financing options. If you go through a credit union or bank, you may be able to obtain some impressive financing options.
There are also some disadvantages when it comes to buying used Cadillac. Perhaps the biggest risk you take when turning to a certified pre-owned is reliability. Buying a used car can come with unknown flaws and needed repairs. Unfortunately, you won’t know until you have a mechanic look at your vehicle or until the problem arises. You will also have to compromise in terms of your vehicle’s colors, packages, features, and other options.
Why Choose Five Star Cadillac of Warner Robins?
Now that you know everything there is to know about new versus used car buying, it’s time to start shopping. Browse our exclusive inventory of new and certified pre-owned cars, trucks, and SUVs from Five Star Cadillac of Warner Robins. Value your trade-in online, research your desired model, and contact us today to begin the effortless buying process.
We look forward to working with you.