When To Buy A New Car

You've got your eyes on a fancy new ride, but your old clunker is still running and relatively reliable. Should you upgrade? When to buy a new car.

Some people like to buy a new car every few years, even if the old car is not that old and works well. Others are new car enthusiasts, and would love never to have buy a new car. How do you know when it's time to buy a new car?

It is very easy to convince yourself to buy a new car. This is more true in the current era of extremely low interest rates on auto loans and offers without a down payment. For some people, it's time to buy a new car every time they have to do more than two repairs or three repairs a year. Attractive financing agreements make the idea more attractive.

But is it really a good reason to buy a new car? Let's think about some factors that need to be analyzed before making a decision. After all, a new car is an expensive proposition. It's also one of those quiet expenses, which can drain your savings and increase your credit limits quickly. For this reason, the decision to buy a new car should not be made easily.

Repair bills in your current car bleeds

Car repair bills are inevitable, even in the latest model vehicles. But as cars age, they require more frequent and expensive repairs. It's hard to know when to buy a new car because much depends on individual circumstances.

You could adopt golden base. For example, let's assume you expect a new car to require a monthly payment of $ 400. Payments equal to 12 months are $ 4,800 per year. You can use this as a measure of the annual repair costs of your current vehicle.

If, for example, you have three repairs in your car during the year at a total cost of $ 1500, you can decide, based on the vehicle's payment scale, that it is worth keeping your previous car. On the other hand, if you have five repairs at $ 3500, you can decide soon enough to pay for a new car, so it's worth buying a new car.

But there are other situations in which the type of reforms can also be a factor.

For example, let's say your 10-year-old car needs a new transmission costing $ 2,500. This is a great cost, but it will also replace an important component in your car. When doing this, you can decide that the car has a "new lease of life" and decide to keep it and get Best New Cars Offer for several more years.

Also, when you make this kind of new investment in your previous car, you may want to recover part of the cost by keeping the car longer. This will be especially true if the car is reliable and does not require constant repairs.

Another factor related to reform is your own ability. If you're an auto repair expert, keeping an old car longer will be less expensive. On the other hand, if you do not know anything about auto mechanics and you should go to a repair shop for all the repairs, the cost can be much higher.car experiences too much down time

This is associated with car repairs, but in a different direction. It may not be so great that the actual cost of repairs is enormous. The car may simply crash and often spend a lot of time in the store. This may force you to rely on renting cars or other drivers or even less repetition than is practical.

For example, you may only spend $ 1500 a year to repair your 12-year-old car. This is much more affordable than buying a new car with a monthly payment. But the amount of money spent is the result, for example, of seven or eight failures that hampered him from running out for 30 days over the past year. You can decide that the car is no longer worth saving.

Cost is always a factor in determining whether you want to keep your current car or not replace it with a new one. But reliability is equally important. You'll find it unhelpful if you save money on driving an old car, but you lose access to it regularly and unexpectedly.

You need a car with updated equipment.

Car reliability has improved significantly in recent decades. Although it is not the cultural norms of the United States to do so, it is possible to draw the same attention for 15 to 20 years. However, given the improvements in technology, it is likely that the old car simply does not have the type of equipment you need or want.

Security features are a good example. If you have an old car and you do not have airbags, anti-lock brakes, a backup camera, or front-impact warning, this could be a convincing reason to switch to a new car. This is particularly true if you have young children and want additional safety margin.

In addition to safety, it may also be important to update the technological capabilities of your vehicle. For example, you can decide that you need integrated navigation, Bluetooth phone and USB port capabilities to connect your phone. This will be more important if these services are necessary in your business line.

The car no longer adapts to your lifestyle.

This is one of the biggest reasons people buy new cars. If you have a lifestyle change, your old car may not work for you. For example, if you have low fuel pressure in your own days, but now you are married and have young children, you probably need a bigger new car.

A change in occupancy may also require a new car. For example, if you have an old car that is ideal for daily transportation, but now you are working for your vehicle and you need a large storage space, you may need to change your car to a 4WD or pickup truck.

Conversely, if you are moving from a rural or suburban area to an urban neighborhood, it is possible that the SUV or truck you currently own may not be operational in a narrow street area and parking is very limited.

There are all kinds of lifestyle changes that can suggest that it is time to change what you are driving now to a car that is more consistent with the life you live in now.

Many people find themselves in car parks like those described above, but they can not buy new cars because they lack the financial resources to do so. We all have to live within our means, so, no matter the state of your current situation in leadership, you can only make a change if you can afford it.

If you bought a very modest car at an early age, when your financial resources were very limited, you could definitely buy a new car if your money improved since then.

Make sure that if you buy a new car, you can afford it comfortably. Not only the monthly payment you must be able to pay, but also the high cost of car insurance, if you live in a state charged with VAT.

These expenses are closely related to the value of the vehicle. This is particularly true in the case of auto insurance, where it will have to conduct a collision and cover full of any new vehicle, in addition to basic civil liability insurance. This can only increase the cost of a new car by hundreds of dollars a year.

Abstract

Buying a new car is an important decision in life, and should not be taken lightly. Be sure to think about your lifestyle, your needs, and above all, your money, before jumping.

How can you decide when it is time to buy a new car?

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