With most people waiting six to eight years to buy a new car, it’s hard to know when to get a new car. Clearly, there’s a point where it just makes sense but it’s hard to pinpoint.
Here are a few points on when to get a new car and when to wait.
Wear and Tear is Normal
Even if you’re the best car owner on the planet, chances are you’re going to have some serious repairs ahead of you every year. While there’s a lot of wear and tear that’s normal, there is some that’s due to excessive use or unmonitored strain. Then, there are the wages of time that happen to everything.
Time is not your friend when it comes to the rubber parts of your vehicle. Any rubber belts and hoses under the hood are going to dry out and crack over time. They’ll be stretched beyond their capacity again and again or just get snagged on a burr or a stray piece of metal and snap.
The metal on the rotors that your brakes rub against is liable to warp or to end up wearing thin over time. Your brake rotors end up needing to be replaced after about 100,000 miles. In fact, a great number of parts on your car are going to need to be replaced after hitting this milestone.
Dealerships can help you to predict when a car you bought from them is going to need some work done on this or that part. If you bring it into their shop, again and again, they’re going to start notifying you after you reach different 10,000-mile milestones. It’s better to replace something when you have the money and before it leaves you by the side of the road.
Why Fix it Up
Buying a new car is a massive expense that most families have to sit down and calculate into their budget before they decide to buy one. If you’re thinking that it’s time to buy a new car or make some major repairs, you should add up how much it would cost to repair. While the repairs ahead of you might be daunting, they might give you a few more years out of your car.
In almost every case, it’s cheaper to repair your car than to buy a new one. While your transmission or your motor could cost you several thousand dollars, a new car still costs you more. While those thousands of dollars are good for a down payment, monthly payments will take a bite out of your budget.
When you drive around an older car, you don’t spend as much on insurance or registration fees. You’ll also avoid that dreaded drop in value that a car sees during the first year. After a year of being off the lot, new cars drop in value by almost a quarter.
New car purchases can also be hasty. You can make a decision that you shouldn’t make so suddenly. Thinking over the idea of buying a new car ensures that you buy something that checks all the boxes important to you but also fits your budget.
Parting with an old car is hard, even if it’s on its way out. Every car builds up an emotional connection as you spend hour after hour seated in it, driving from one memorable place to another.
Why Buy a New One
If you’ve finally had it with your car and you don’t want to spend another dime on it, you might be ready to buy a new car. While it’s a bit intimidating to go into buying a new car cold, it may be the way to go. Anyhow, you can do some quick research online to ensure you get a car that suits your needs and your lifestyle.
If you don’t want to worry about breakdowns in the near future, consider buying a new car. Your old car could up and die at any point for any reason at all and even if you repair something, another thing could break. With a new car, you get a warranty to ensure that you’ll have at least a few years where everything on the car will be taken care of for you.
Even if you get along well with your mechanic, no one wants to be a regular at the repair shop. Even with the best mechanics in the world, some things aren’t repaired at the first go around and need to be looked at a few times before they get fixed.
One of the major reasons that people look into new cars is that they’re tired of worrying about safety. Some of the latest safety features are far and away better than they were 10 or 12 years ago. If you’ve been driving a car for a decade, it’s probably nowhere near as safe as an equally priced car would be today.
When Should you Finally Buy Another Car
The time to buy a new car will vary for everyone. One of the major factors is going to be your budget. If you don’t have the money to buy a new car now or to pay a down payment, then it’s out of the question for now.
However, if repairs are a constant nightmare in your life, those costs are going to add up. At some point, you’re going to be sinking money into something that’s not going to last. If you’re paying $300 a month to keep your car on the road, you could be paying a payment on a new car instead.
An old car could be dangerous and leave you stranded. Everyone has their own breaking point, so listen to yours when it comes up.
Figuring Out When To Get a New Car Varies
Everyone has their own timing for when to get a new car. Whenever matters of safety, security, or dependability are up in the air because of your old car, that’s one of the best times to get a new one.
When you’re looking to trade in your old car, check out our guide for tips.
