When it’s time to replace a vehicle, the question of whether to buy new or used almost always comes up. While some people swear by driving a brand new vehicle off the lot every time a replacement is needed, there are some pros and cons of going this route. In this two-part series, we’ll explore the ups and downs of buying new versus driving off the lot with a used vehicle.

There is just something incredible about being the first (or almost first) person behind the wheel of a car. When a new vehicle is signed, sealed and delivered, an owner will benefit from these advantages:

• No guesswork – Used cars can have some issues under the hood that are not readily evident. When a new vehicle is driven away, worry about the unknown just isn’t a normal part of the prospect.
• Warranty – New cars come with warranties attached so drivers can tool around with the knowledge they won’t have to pay for repairs if they do crop up. This can be a feature of buying new that simply delivers peace of mind.
• Safety features – When a brand new vehicle is driven off the lot, motorists will benefit from the latest safety equipment. There will be no question about seat belts, braking systems or air bags.
• Purchasing incentives – New car dealers and manufacturers offer incentives to get people to buy new. These can add up to some pretty big savings over the actual sticker price. Financing at 0 percent, cash-back bonuses and more can make new look very attractive.

While new cars do have their very definitive perks, there are some potential pitfalls of buying them that you should consider. In the next installment we’ll go over the cons of buying off the new car lot.