New vs. Pre-Owned Honda – What You Need to KnowAug 26th, 2022
There are a lot of questions and concerns that come up when buying a car. The main one being, “should I buy a new car or buy a pre-owned car?”
Each option has its own advantages and potential drawbacks. We’ve put together a list of the main differences between buying a new vs. pre-owned Honda to help you make an informed decision.
Buying a Pre-Owned Honda
If you’re in the market for a car and have decided to buy a pre-owned Honda, consider the following advantages and disadvantages before signing on the dotted line:
Advantages of a Pre-Owned Honda
Competitive Market Prices
If you compare buying a new vehicle to a pre-owned one, a used car is typically going to be the more affordable option. The savings of buying a used Honda can go towards stepping up to a nicer model. Also, certified pre-owned Honda vehicles are often eligible for special financing rates and a 7-year 160,000 km Powertrain Warranty.
One of the harsh truths about buying a new vehicle is that as soon as it drives off the lot, its value starts to depreciate. Some car models can actually depreciate up to 40% after their first year. Spend less time worrying about the depreciating value of your car – especially with a pre-owned and certified Honda, which will hold its value better than a brand-new vehicle.
Wide Selection of Vehicles
You may not be able to custom-order a vehicle to your exact specifications, but you’ll likely be able to find something that fits your needs. Ottawa Honda has a wide inventory of quality certified and pre-owned Hondas. We’re sure that you’ll be able to fit the perfect Honda for your budget and lifestyle.
Disadvantages of a Pre-Owned Honda
- You may have to compromise on the specific colours, features, and models
- Potential of higher interest rates for financing
- Possibility of early-onset problems
Buying a Brand New Honda
If you opt for buying a new car, it comes with its own set of advantages and disadvantages, including:
Advantages of a Brand New Honda
More Financing Options
There are tons of different incentives to entice buyers into purchasing a new vehicle. New car loans will often have better interest rates compared to buying a used car. These financing options mean you might actually end up paying less than the sticker price after negotiations and incentives.
When you’re buying a new vehicle, you can find or build a customised vehicle that checks off every single thing on your list. The colour, style, trim, and features are all customizable with a new Honda vehicle.
Buying a new car means that you’ll have access to all the newest and best technologies out there. Whether that’s to make your driving experience more fun, comfortable or safer, having the latest technology is definitely a bonus.
All new Hondas come with a warranty directly from the manufacturer. Although certified pre-owned Hondas also come with a warranty, the best type of warranty you can get is on a new car.
Disadvantages of a New Honda
- A new car depreciates the most over the first 2-3 years
- New vehicles come with higher insurance costs
- Can be considerably more expensive than buying used
Tips for Buying a Honda in Ottawa
Whether you’re buying a new Honda or a certified pre-owned Honda, use these tips to make your car shopping process smoother and less complicated.
- Consider Your Lifestyle, Needs, and Wants
- Establish Your Budget
- Do Some Research
- Always Test Drive
Come by Ottawa Honda to explore all of your options. If you’re thinking of buying new or pre-owned, speak with our Ottawa Honda experts and book a test drive to find the best fit for your needs and budget.