Your First Car: New or Pre-owned?
Most experts recommend that first-time buyers, especially teens, purchase a used vehicle instead of a new one. The reason for this is two-fold. First off, a driver securing a first time auto loan will typically put themselves in more debt if the vehicle is new. New vehicles simply cost more.
The second reason for buying used is that drivers 16-19 years old (the majority of first time car buyers), are 2.7 times more likely to get into a crash than drivers of all other ages. The vehicle isn’t totaled in the majority of these crashes, and a used car or truck will be much affordable to have fixed than a brand new one.
