Many people don’t rush to replace their old car with a new vehicle. There can be many reasons why they stick to their old car. They may be in some way attached to the vehicle that associates with important events in their life or positive emotions. Others may think that new cars are more expensive in maintenance. If the vehicle is repaired when necessary, driven carefully and taken good care of, it may be in good condition to satisfy its owner.
But if you already think of selling your old car and hesitate, the information below is for you. There are several questions to ask yourself that will help you count your expenses and see whether it’s relevant to keep using your old vehicle. A new one may be much cheaper to maintain despite your possible assumptions about it.
Count your expenses on your old vehicle’s repair and compare it with the maintenance of a new one. Sounds so easy, right? But for many people, it may seem difficult, so let’s make it clear and sort things out to make them obvious and understandable. Just answer the questions below and you will understand everything.
Cash your car or leave it? Numbers will tell you!
How Much Do You Spend on Your Car’s Maintenance?
Count the money you spend on planned maintenance per three last months. This should include possible credit or leasing payments, insurance, car wash, etc. Don’t miss anything. If you do full diagnostics every year, you should count the sum per quarter. Count the same for a new vehicle and compare these two sums. If they are almost equal, go to the second question.
How Much Do You Spend on Your Car’s Repair?
Count how much do you spend to repair the faults that occur in your old vehicle. Compare them to the cost of spare parts for the new car. A new car may be more expensive but the old one has more chances to have problems that require repairing.
How Much Are You Ready to Pay for Your Safety?
From the point of view of safety, new cars are definitely a safer option. The newer the car is, the smarter and safer it is. It’s more likely to be equipped with all the newest technological equipment to make your driving more comfortable. It also has a guarantee from the manufacturer. You won’t have to think about faults that can emerge all of a sudden.
Obviously, a new car is a more preferable option, even if it may be more expensive. But it all depends on each individual situation, sometimes it can be cheaper in a long-term perspective. Counting and comparing the expenses will help you find the best decision.
If your budget doesn’t let you buy a brand new vehicle for cash, there are other options. You can lease a car or pay credit for it. Today there are many possibilities for people of different income to purchase vehicles. You can also buy a used car but there is a risk to have problems with it in the future. Therefore, it’s better to deal only with trusted services.
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