Is it time to upgrade?
Should you get that shiny new car or stick with your old one for a few more years. We will help you decide.
It can be tempting to ditch your used car for a shiny upgrade however is it really worth it? It can be hard for people that have limited knowledge about cars to tell how long their car should be kept for. Before making any decisions money is of course a factor, both your disposable income and the book value of your current car need to be consider. Safety features of your current car should be looked at as safety technology is constantly evolving and changing and your vehicles may be outdated. The first thing to look at is money. Will the upgrade be cheaper to run? As technology progresses so does fuel efficiency. It varies between makes and models but generally a newer car will be more fuel efficient than a used one. This can potentially cut the amount you spend on fuel by hundreds of dollars a year. Another used car cost to consider is the maintenance. How much is your current car costing in services and repairs? The older the car the more likely it is something will break or need replacing. Research your car online; is it prone to any particular issues with age? Aside from whether or not you’ll save money by upgrading your car you need to take a good look at your budget. How much are you able to afford to spend on a car, either outright or fortnightly and how much could you get for trading in? Personal budgeting you’ll have to calculate yourself but you can easily find out your cars value in Canada by looking up used car prices on websites such as: http://www.carcostcalculator.ca/. Safety features most importantly keep you and your loved ones safe but in a way they may even save you money. Having the proper safety features in place prior to an accident can be the difference between a few cuts and bruises and a long hospital stay. Besides the obvious emotional and physical impact being hospitalised has on a person it can also be costly. Check that your car has: traction control, stability control, anti-lock brakes and curtain airbags. Other cool features to look into include: blind spot monitoring, a reverse camera, and lane departure warnings. Given how valued safety and security is, it’s a good idea to research the different features out to make sure you aren’t missing out on anything! Once you’ve considered your budget, the cost of maintenance and fuel for your car and the safety features available you’ll be able to decide if an upgrade is the right call or not. Make sure you do the research online before making your decision. If you keep these tips in mind you’ll ensure you’re always driving a safe and affordable car.