Buying a car is a major decision. In fact, a car is one of the most expensive one-time purchases most people make throughout their entire lifetimes—second only to buying a house. Because buying a car is such a major purchase, most drivers want to choose a reliable car that they enjoy driving and that will serve them well on the road for many years. These are great priorities to keep in mind and can help you choose the right model for you if you’re in the market for your next vehicle. With that in mind, we answer if it’s better to buy a new Ford Ranger or a pre-owned one.
Once you make a final decision on which vehicle model you want to buy, you have another choice to make. Unless the car model you have your eye on only just debuted on the mainstream auto market for the current model year, you have the choice to buy either a new or pre-owned vehicle model. There are general advantages and disadvantages to both options, which makes it even more difficult for many drivers to settle on a final decision.
Pre-owned vehicles are more affordable than brand new models, and their value depreciates more slowly over time. New cars, on the other hand, are more customizable and come with zero wear and tear and zero mileage. Plus, there’s just something exciting about knowing that you’re the only driver to ever take your car out on the road.
Whether or not you should buy your next vehicle new or pre-owned depends largely on the model you choose. If you’re in the market for a midsize truck, the Ford Ranger is an ideal option. Reliable and high-performing, the Ford Ranger is an iconic midsize pickup truck from Ford that has been a popular option in Ford’s vehicle lineup for decades.
If you have your sights set on a Ford Ranger and are struggling with the decision to buy your Ranger new or pre-owned, keep reading to learn the benefits and drawbacks of each choice—catered specifically to drivers who are in the market for a Ford Ranger.
Brand new vehicles are understandably more expensive than pre-owned vehicles. The value of brand new vehicles also depreciates much quicker than the value of pre-owned vehicles. Saving money on initial costs and depreciation is one of the main reasons why purchasing a pre-owned vehicle is the smartest financial decision for many drivers on a budget.
In terms of the Ford Ranger specifically, however, cost differences between new and used models is less of a concern. On average, a brand new 2020 Ranger costs just over 11% more than a pre-owned 2019 Ranger. Compared to the average 20% discrepancy between the price of a new car and that of a used car, that difference isn’t actually very significant.
Due for New Features
One concern many drivers have when deciding whether to buy a new or pre-owned vehicle is the fear of missing out on the latest and greatest features of your new-to-you vehicle by purchasing a pre-owned model from a past model year.
In the case of the Ford Ranger, this issue is slightly complicated. If you compare the 2019 and 2020 Ranger models, you won’t find many significant changes. The 2020 Ranger includes very few new features that aren’t standard or available for the 2019 Ranger as well. If you are choosing between a 2019 and 2020 Ranger model, you won’t be missing out on much if you decide on a pre-owned 2019 model.
However, because the Ranger did not change much between the 2019 and 2020 model years, it is due for some big changes and new features in the near future in order to remain relevant. That means that you might miss out on new features you value if you opt to purchase a pre-owned Ranger from a previous model year instead of waiting on the 2021 model to hit the market.
While this is not the case for every vehicle model, it’s generally a better idea to buy a Ford Ranger new rather than buying it pre-owned. It is true that you will pay a little more upfront for your Ranger if you buy a brand new model. However, you’ll also get to personalize it however you want and—in the case of the Ford Ranger—you don’t have to worry too much about the difference in price between a new and pre-owned model.