Pre-Owned Or New Ford In The GTA: Which Costs Less After 36 Months?

Choosing between a used and new Ford in Mississauga is hard. Cars lose their value fast, making them cheaper over time. At Erinwood Ford, we guide you on how to save money after three years with either choice.

Key Takeaways

• Buying a used Ford saves you money both at purchase and on insurance because new Fords lose 20-30% of their value in the first year.

• Although financing a new Ford might offer lower interest rates, with options like cash-back deals, it requires more upfront payment.

• Newer Ford models are more fuel-efficient, saving you money on gas in the long run.

• Erinwood Ford gives protection plans for both new and pre-owned cars that cover major repairs for up to eight years, depending on the model.

• Over three years, opting for a used Ford can save you monthly over a new one, but expect higher maintenance costs with older vehicles.

The Cost of Buying a New Ford in the GTA

At Erinwood Ford, customers often ask about the total cost of buying a new Ford in the Greater Toronto Area. We explain all the prices involved in owning a new car.

Depreciation Over 36 Months

Cars, including Ford vehicles, lose value fast. In the first year, a new Ford could drop 20-30% in worth and about 30% over two years. After that, it decreases by 8-12% every year.

By the third year, it may be much less valuable than its original price.

Knowing this helps buyers in Mississauga, Ontario choose between financing or leasing based on their budget and needs. Being aware of depreciation is key to making informed decisions when getting a car.

At Erinwood Ford, we guide customers through these financial aspects to pick what's best for them.

Insurance and Registration Costs

Insurance for new Fords often costs more than for used ones. This is because replacing or fixing a new car if it gets damaged or stolen can be expensive. At Erinwood Ford in Mississauga, we notice buyers usually save on insurance with a used Ford.

Registration fees in Ontario stay pretty much the same whether the car is new or used, as they're based on weight and type.

We help our customers find affordable auto insurance options. Understanding how insurance affects your choices is key to us. Plus, we provide competitive financing deals for both new and pre-owned Fords with approved credit, making buying from us a wise decision.

Maintenance and Repairs

New Ford cars usually need fewer repairs at the beginning. They come with a promise from the company to fix certain parts for free if they break early on. But, once this guarantee runs out, repairing newer cars can be expensive due to their advanced features.

Used Fords might cost more in repairs over time. Older cars often don't have a free repair deal anymore, so you pay for any fixes yourself. Still, regular maintenance like oil changes or new tires is part of owning any car.

At Erinwood Ford in Mississauga, our team helps keep your vehicle in great shape, whether it's new or used.

The Cost of Buying a Pre-Owned Ford in the GTA

Buying a used Ford in the GTA saves money upfront and on insurance, while avoiding rapid value loss. Erinwood Ford's inventory includes quality pre-owned models, offering better financial value for your next car purchase.

Lower Initial Purchase Price

Pre-owned Ford vehicles cost less than new ones. At Erinwood Ford in Mississauga, used Fords have a lower starting price. On average, a used car costs $27,177. This makes getting into your next car more affordable.

The lower initial price helps with budgeting over time. Buyers can save money or pick higher trims and models within their budget at our dealership. We make sure these choices match each customer's financial situation with approved credit.

Depreciation Benefits for Pre-Owned Vehicles

Buying a used Ford in the GTA helps save money because of less depreciation. New cars lose 60% of their value in five years, but used cars have already gone through this loss. This keeps their value steady over time.

At Erinwood Ford, customers find better savings due to this slow depreciation rate.

Choosing a used car at Erinwood Ford also cuts down on upfront costs. These vehicles are cheaper from the start, making the investment more sensible. Used Fords suit buyers in Mississauga looking for value and quality in one vehicle.

Insurance Savings

Insurance costs matter when budgeting for a car. Pre-owned Fords from Erinwood Ford in Mississauga often have lower insurance rates because they're worth less than new cars. You could save per month with a used car.

Insurers look at the purchase price, theft risk, and accident odds to set rates. Used vehicles are cheaper to replace due to prior depreciation. So, insuring a used Ford will generally cost less than a new one.

Choosing a pre-owned vehicle can lead to big savings on insurance.

Now, let's talk about maintenance costs for pre-owned vehicles.

Potential Maintenance Costs

Older used cars usually need more repairs, leading to higher costs. At Erinwood Ford, our pre-owned vehicles include service guarantees. This reduces worries about repair bills. We thoroughly inspect every car before sale, ensuring they're road-ready.

When you buy a pre-owned vehicle from us, you get peace of mind. Our service guarantees cover many maintenance issues. Enjoy your Ford without fear of unexpected expenses. Our Mississauga experts work hard to maintain your vehicle's performance and save you money on future upkeep.

Key Factors That Impact Total Ownership Costs

Fuel efficiency and guarantee offers impact the total cost of owning a Ford in Mississauga significantly. Choosing between new and pre-owned Fords at Erinwood Ford influences not only your immediate budget but also your long-term spending.

Fuel Efficiency Comparisons

New cars with the latest technology often use less gas. This lets them go farther on less fuel, which saves money over time. At Erinwood Ford in Mississauga, we understand the need for fuel-efficient cars.

We offer a variety of new and used Ford models that are good on gas. Choosing a car with better fuel efficiency is wise, helping save money as you rack up kilometres.

Financing Options for New vs. Pre-Owned

When you finance a new Ford, the interest rate is usually pretty low for qualified buyers. For used Fords, it's a little higher. This means financing a new car saves you money on interest. Down payments also vary.

Erinwood Ford in Mississauga offers competitive financing deals for both new and pre-owned vehicles. Our team finds the best rates and terms to suit your budget.

Buying a car is an important decision that involves looking at various options to find what works best financially while getting all the benefits each choice offers.

Erinwood Ford's Wide Selection of New and Pre-Owned Ford Models

Erinwood Ford in Mississauga has 136 new and used Ford cars ready for sale. Our team helps you find the right car, ensuring it fits your needs and budget if you have good credit. Used Fords from the 2022 model year retain about 74% of their initial value, offering a mix of reliability and value.

We provide deals on both new and pre-owned Fords, focusing on fuel-efficient sedans and durable trucks. Erinwood Ford stands out in Mississauga for matching quality with affordability in automobiles.

Why Choose Erinwood Ford for Your Next Vehicle

At Erinwood Ford in Mississauga, we help drivers find the right new or used car with good credit deals. Our team inspects each vehicle carefully to ensure quality and reliability.

Pre-Owned Options for Peace of Mind

These autos undergo a detailed 172-point examination for assured quality.  This backing aids drivers in feeling safe on the road, whenever they require it. Our assistance in Mississauga aligns drivers with vehicles fitting their lifestyles and financial means, promising tranquillity of mind.

Trusted Service and Maintenance in Mississauga

Our team in Mississauga specializes in Ford vehicles. We use genuine Ford parts for all repairs, ensuring your car stays reliable. From oil changes to brake checks, we handle it all.

Our financing deals are designed to fit any budget, so you get quality service at a fair price.

Skilled mechanics focus on keeping your Ford in top condition. We work diligently, so you drive confidently knowing your vehicle is well taken care of.

Competitive Financing Deals for Every Budget

Erinwood Ford offers fair financing deals for every budget. There are no hidden fees, such as admin fees or registration costs. Customers can choose from new luxury SUVs to fuel-efficient sedans, with clear loan or lease terms provided.

This ensures affordable access to owning a dream Ford.

Experts at Erinwood Ford help customers through the process and suggest the best vehicle based on their needs. They have a broad selection of models available for review.

Which Ford Option Saves You More After 36 Months?

Our team analyzes costs to determine if a new or used Ford saves more money over 36 months, presenting clear figures.

Total Cost Analysis: New vs. Pre-Owned

Buying a new Ford will usually have a higher payment due to the price of the vehicle.

But buying used offers savings too.

Used Fords tend to have a lower payment due to the lower price.. This means you can save each month compared to buying new. Over three years, this adds up to significant savings. However, older cars often need more repairs.

At Erinwood Ford in Mississauga, we have options for customers with approved credit or who qualify. We help customers choose the best option for their budget and needs.

Conclusion

Deciding to buy a new or used Ford in the GTA? At Erinwood Ford, we've noticed that new Fords offer deals but lose value fast. On the other hand, used Fords are cheaper at first and keep their value longer.

Consider your budget, driving needs, and car insurance costs.

Our Mississauga dealership has many choices for every driver. Thanks to smart financing with approved credit, picking between new and used gets easier. Visit us at Erinwood Ford to pick the perfect car that matches your life and budget after three years.

FAQs

1. Which is more cost-effective over 36 months: a new or pre-owned Ford?

A pre-owned Ford generally saves you more over 36 months due to lower purchase prices, insurance premiums, and slower depreciation. While new Fords may offer better interest rates and fuel efficiency, the upfront and ongoing costs are typically higher.

2. How much can I expect to save on insurance with a used Ford in Mississauga?

On average, you could per month by choosing a used Ford over a new one. Insurance rates are lower because used vehicles cost less to replace and have already depreciated in value.

3. What are the maintenance differences between new and used Ford vehicles?

New Fords usually require less maintenance in the first few years and come with factory warranties. Used Fords may need more frequent repairs, but Erinwood Ford includes service guarantees on many pre-owned models to reduce repair costs.

4. Do financing options differ significantly between new and used vehicles?

Yes. New Fords may qualify for lower interest rates, while used Fords average a little higher. However, used vehicles usually require a lower down payment and monthly cost, making them easier to budget for upfront.

5. What kind of warranty protection is available at Erinwood Ford for used cars?

Erinwood Ford offers extended warranties on most of our vehicles in inventory.  New vehicles come with Ford factory coverage.  Please ask your representative for details.

Dave Raymond

President, Erinwood Ford & Direct Nissan

Dave Raymond has been a dedicated leader in the automotive industry since 2006, serving as the President of Erinwood Ford and Direct Nissan in Mississauga. With a wealth of experience and a customer-centric philosophy, Dave has consistently aimed to deliver the highest level of satisfaction to his customers.

His involvement in industry relations is extensive, including his roles as a former member of the Ford National Roundtable, President of the Toronto Dealers Association, and various leadership positions on advertising and action committees at the national and local levels.

Dave is deeply committed to social responsibility, actively participating in numerous projects that reflect his dedication to making a positive impact on society. His approach to business ethics focuses on continuous improvement, fostering a team ethos through community service, and creating an interactive and satisfying buying experience for customers.