Do you Really Need to Buy a New Car?

There are various reasons why a person wants to buy a new car. It might be because your car is already begging to be retired or you’re drowning from continuous car repairs that never seem to end. You probably need a bigger and more spacious vehicle for family use or perhaps, you just envy how your next door neighbor rolls in style.

The list of reasons may be endless but before you decide if you really need to buy a new car, make sure you read this first. It’s actually easy to decide when you’re armed with a checkbook, but ask yourself first if it is vital you get a new set of wheels.

Here are some points to ponder on.

  • Determine your reason
Is your reason valid or are you just trying to convince yourself that you are in dire need of a replacement? List down your reasons and assess each point. Be honest with yourself.

    Your reason should make sense. If your car is working and does the job of transporting you from place to place then chances are you don’t need a new one.

    • Consider the math
    Once you purchase a new car, it automatically depreciates on the first year. If it reaches 5 to 10 years, you should stop worrying about depreciation. It is inevitable.

      If you compute the costs of maintaining your existing car versus spending on a new one, you’ll see the difference more clearly. Put it all on paper so that everything is in black and white. Maybe you can factor in the cost of and consider buying a second-hand car instead.

      Don’t forget to list down the average maintenance and repair cost per year. Create a comparative table where you can categorize each column by indicating the percentage of depreciation, current value of your car and the total value lost.

      • Will it save you money?
      Evaluate the current condition of your vehicle. Calculate the total cost of your maintenance and repair. Then compare it to the maintenance costs of buying a new or used vehicle.

        Add up the repair costs in a year and if the total is more than your annual car payment, then you might want to get a new ride. If it is relatively smaller, then you can still use your car for a couple more years. You can use this time to save money so that you are more prepared when you’re finally due for a car replacement.

        Before you decide, clean it thoroughly with the KevianClean Interior Defense. Make sure you clean it inside and out. You might just realize that your car doesn’t seem as bad as you think.

        Older Post Newer Post

        Leave a comment

        Please note, comments must be approved before they are published