Why buying a Used Vehicle vs. New Vehicle is a better deal

Buying a certified pre-owned vehicle over financing a new one has increasingly become the more popular choice amongst Canadians living in the greater Toronto area and beyond. While there were a record of 1.85 million new vehicles sold in Canada last year, the number of people who opted to save money and go the used vehicle route was exceeded at 2.8 million for used cars, vans and light trucks. 

The Lower The Price, The Less Depreciation

In a country that knows the extremes of Mother Nature all too well, buying a used vehicle over financing a new one is a more cost-effective way to go when you consider all the associated fees and loss in value (depreciation) that come along with the changing seasons, which can add up to the thousands in just the first few years of car ownership. The fact-of-the-matter is, new cars depreciate faster than used cars no matter how much TLC you give them. Remember the old adage that a brand new vehicle will lose roughly 11% of its value the second you drive it off the dealership lot? It exists because its true.

If Going Used, Go Certified Pre-Owned
 

While a Certified Pre-Owned Vehicle may be slightly more expensive than a vehicle without the certification, the additional cost is peace of mind that you're making a solid used vehicle purchase, taking the risk out of buying a used vehicle that may have inherent problems not immediately apparent until after you've made the purchase. 

Looking For A Certified Pre-Owned Vehicle in Toronto, ON?

Check out Somerville Auto's impressive selection of quality pre-owned vehicles! Our automotive Finance & Lease experts will be with you every step of the way to help you buy or lease your next used vehicle in the greater Toronto area.