# Should I buy a new or used car?

> Decide between new car benefits and used car savings with budget and tech needs.
- Title: Should I buy a new or used car? · Yahoo Finance | Shortify
- Summary: Decide between new car benefits and used car savings with budget and tech needs. New cars offer customization and tech but depreciate faster; used cars save…
- Keywords: new car, used car, budget, tech needs, depreciation, maintenance costs, experian, car insurance, business, finance, buy, used
- Source: Yahoo Finance — https://finance.yahoo.com/deals-and-buying-guides/articles/buy-used-car-181444914.html
- Published: 2026-09-17T14:53:52+00:00
- Read time: 1 min
- Topics: new car, used car, budget, tech needs, depreciation, maintenance costs, experian, car insurance, business, finance
## New car benefits
Buying a new car allows customization and the latest technology but comes at a higher price and loses value quickly.
## Used car savings
Used cars are less expensive and slower to depreciate but may require compromises and higher maintenance costs.
## Key considerations
When deciding between new and used, consider budget, tech needs and maintenance costs for the best choice.
## Pros of new cars
Customization: Choose color and style; current technology: Latest safety features; better interest rates: Lower auto loan rates.
## Cons of new cars
More expensive: Higher purchase and insurance costs; depreciation: Lose 20% value in first year; higher insurance costs.
## Pros of used cars
Less expensive: Save thousands; lower insurance costs; slower depreciation: Lose 10% in first year.
## Cons of used cars
Making compromises: Harder to find desired features; car history: Check maintenance records; increased maintenance costs.
## Average monthly payments
In Q2 2026, used vehicles cost $542 monthly while new vehicles cost $765, according to Experian data.
## Key takeaway

New cars offer customization and tech but depreciate faster; used cars save money but need more maintenance.