If you’re a frugal driver, then you’ve probably been driving a pre-owned car for the vast majority of your life. In most cases, as long as it can take you from point A to B in a short amount of time, it’s usually not worth replacing your vehicle unless it’s for cosmetic purposes and you have a hefty amount of savings. Unfortunately, there are better things to spend your money on than a new vehicle that essentially does the same thing.
Most of us can’t bear to replace our vehicles because they’re so expensive, especially if you’ve been driving a fairly old car for a while. Not only is the resale value low, it might even be so undesirable to a point you actually have to pay the scrapyard to get rid of it for you. Everyone understands that buying a new vehicle and replacing a fully-working one is a tough decision, but here are a couple of points to consider that may sway your decision.
Your old car is costing you a fortune to repair
The first thing to consider is how much your vehicle costs to repair. If the mechanics at your local auto repair let out a sigh everytime you bring in the vehicle, then there’s a chance they’re starting to run out of ideas on how to maintain your vehicle or they can’t source replacement parts quickly anymore. This naturally happens as old cars phase out of fashion and unless you have a vintage classic, there probably aren’t many people in the world that would want to pour in time and effort to repair your old car.
Your old car has terrible fuel economy
As car technology improves, so does fuel efficiency. With so many electric and hybrid model cars out now, we’re starting to make more use of our fuel and it’s carrying us further. Old vehicles have to top up their fuel more often due to inefficiency engines and systems, making them expensive to operate. You could potentially save a lot of money by switching to an electric model if speed isn’t your primary concern.
Your old car isn’t big enough anymore
If you plan to start a family, then you’re going to need a car that’s big enough to house everyone and also carry ample amounts of shopping in the boot. For bigger vehicles, try to focus on larger SUVs and pickups instead of buying a small car. They don’t have great fuel economy, but they offer a tonne of space for all of your needs.
Your old car is getting more expensive to maintain
Be it increased insurance costs because of a flimsy car body, excessive maintenance and repair costs or even just the price of fuel, old cars are usually more expensive to maintain and operate. Instead of spending ridiculous amounts of money on keeping it running, research newer models that cost less to maintain and calculate how much money you would save over a long period of time. You’ll be surprised to find that investing in a new vehicle isn’t nearly as expensive as you’d imagine, and the savings you make are absolutely worth it.