Remember These Factors When Choosing Between a New and Used Car

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When you decide it is time to update your old car or get your first one, you will need to decide whether you want a new or used vehicle. Either option has its benefits, but it is harder to choose today than it used to be.

Considering TechnologyUsed Car Birmingham

One important thing to consider when choosing between a new and used Toyota or another model is the technology. In today’s modern world, technology and safety features tend to advance quickly. This means that if you want to have all the latest features available, you will always need a new car. At the same time, it also means that if you just want the basic technology features, like Bluetooth, USB, and auxiliary audio inputs, you can save a lot of money. Since technology advances so quickly, used models with fewer tech features tend to be significantly cheaper due to depreciation.

Pricing

Probably the biggest reason Birmingham drivers choose a used model over a new one is the price. You can easily save thousands of dollars simply by choosing a used version of last year’s model as opposed to the newest one. This makes used or pre-owned vehicles the ideal choice for those on a budget. When considering price, however, don’t forget about fuel economy. Newer models tend to do better in this respect, although the difference is not always significant. In some cases, however, you may end up saving enough money on gas over the car’s lifespan to make up the difference you pay. This is only true, however, when the new and used models are in different generations or include major updates.

When you head to Limbaugh Toyota in Birmingham, Alabama, the team can work with you to figure out how a used car is the better choice for you and show you the wide selection of options.

Toyotas Have The Best Retained Value

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This year, Edmunds.com voted Toyota this winner of the Best Retained Value Awards in the non-luxury division with a projected residual value of 52.4 percent after five years. Edmunds.com’s Best Retained Value Competition is part of the website’s efforts to highlight vehicle value. These particular awards recognize brands and models that have the highest projected residual wear after five years (assuming approximately fifteen thousand miles are driven each year). Here is a little bit more information on how they determined the winner.toyota used cars

Each brand with both (i) more than 100,000 unit sales in 2014, and (ii) models offered within at least four vehicle-type categories was eligible for this year’s brand-level Best Retained Value® Awards. Each model year 2015 vehicle that both (i) was launched by the end of 2014, and (ii) had unit sales in February 2015 that were at least 25 percent of the average unit sales for the models in its segment was eligible for this year’s model-level Best Retained Value® Awards. Edmunds determined each model’s category for the 2015 awards based on (i) its body type segment; (ii) for certain categories, the size of the model within its body type segment; and (iii) for certain categories, the model’s price and/or its competitive segment.

A reliable assessment of a vehicle’s resale value is a critical piece of information for buyers. For consumers who lease, selecting cars with strong resale value is just as important: Resale value is a key factor in determining the monthly lease payment. Limbaugh Toyota and these award-winning vehicles are waiting for you to come snag one for yourself!