6 Warning Signs Describing It’s Time to Buy A New Car
WorldExecutivesDigest.com | Buying a new car is a necessity. Most often, it occurs because a driver’s old car is about to bite the dust. When you purchase a vehicle you want the relationship to have the shelf life of a marriage. You want to make it ’till death do us part. Unfortunately, an automobile is not made to last forever. Eventually, it will begin to break down and the decision comes to ditch it or fix it. If you have come to this crossroads and are unsure of your decision then here are six key signs that it is time to buy a new vehicle.
- The Cost of Repair Outweighs the Value of the Auto
The principal reason most driver’s walk away from their auto is cost. For many, it is a major repair that creeps up and is too costly to fix. For many others, it is a combination of repairs. No matter how much money they put into the vehicle it breaks down again. In such cases buying a new car is a lot better than financing a money pit.
A great way to determine this is to look at the blue book value of your car. If the cost of a repair or repairs is more expensive than the current value of the auto you need to walk away. This means whatever money you spend you will not be getting back and that is a terrible investment. It is better to invest in a new car.
- Your Car Stops Passing Emissions
Emissions are a pain in the keister for everyone. But it gets so much worse if your car stops passing the test. Autos that are on their last legs will always fail emissions. This will lead to an extra cost you have to foot in order for it to pass. After that, you have to shell out more bucks to renew your registration. Newer cars come packed with better technology that makes emissions a breeze. So if your car regularly fails emissions get rid of the thing.
- You Grow Out of It
This reason has less to do with the condition of the vehicle and more with the condition of the driver. Driving a compact car is great when you are single but terrible for a family of four. As you grow and evolve your auto should grow with you. A new car offers a better fit for your current lifestyle condition.
- Insurance Keeps Going Up
Most people do not realize that older cars are a bit tougher to insure. This is because older models lack the nifty new safety features newer model cars come stocked with. They also fall victim to rising yearly premiums. Many motorists actually trade-up to save money on their auto insurance. It may sound crazy but in the long run, it can be much more cost-effective than paying an ever-increasing premium.
As aforementioned newer cars come stocked with spiffy new safety features. Some of these features, like side-airbags, are actually lifesavers. It could be very dangerous driving without them. Also, the older the car the more hazardous it is to operate. It could break down in dangerous situations and leave you stranded. So a good time to trade-up is when your auto become unsafe to operate.
Older cars also cost more at the pump. Fuel efficiency is one of the factors on an automobile that wanes with age. Older cars also have lower efficiency than newer ones. Mainly, because efficiency was not an issue in the past. So the older the car the more money you are likely to spend at the gas pump. A great way to cut cost is to switch out for a more efficient model.