Tips to find out when to buy a new car
The question of when to buy a new car can arise from time to time in the mind of any car owner. A new car is a good investment in terms of safety and performance. Although having a used car is not a bad thing, buying a new car can be a better option if you are able to afford it. If you don’t have a reasonable budget to buy a new car you can also have the option to car financing in Pakistan. This article describes some things to consider when buying a new car.
Factors to consider when buying a new car
The costs of maintaining and repairing an old car as well as the constantly evolving needs dictated by your lifestyle are often the key points that let you know when to buy a new car.
Let your old car to go
While your old car may have served you well, you may have noticed that the repair costs have accumulated. Maintenance and small repairs are quite normal for cars as they get older. However, major problems related to the old car can cost you more money than what the car actually is worth. Significant damage to the structure or engine may cause you to buy a new car instead of having it repaired.
You can also know when to buy a new car, once you have checked, that the performance of the car has dropped. A significant indicator of this is the consumption of your car. The new cars have consumption of 30 miles a gallon and above. If you have noticed that your fuel consumption has increased dramatically, you can calculate that you spend a lot more money on gasoline.
You can make a quick check of your monthly or annual car maintenance and repair costs. If the monthly costs start to reach the amount you are going to pay for a new car, it is time to consider buying a new car.
Most people are considering buying a new car when their old car is between 5 and 10 years old. Just because you can resell your car at a good price at this age. The money can then be used to buy a new car.
Need a new car for business or family
The growing and changing needs of a car owner can dictate when to buy a new car. Having your own family usually means you have to buy a new car. A big van is a great help to keep up with the kids ‘ rhythm. It can comfortably accommodate a family of four people while being able to carry groceries and luggage. Maybe the time has come to move on to a new car.
Having a business can also mean that you need a new car. Your old car may simply not be able to meet the needs of your company. Whether it’s commuting to the city or transporting the equipment you need, a new car can meet the needs of your business.
Add a car
Buying a new car does not necessarily mean maintaining a single car. You can choose to buy a new car as an extra car. This is a good option if you need another car for your family. Two cars can help your family move faster, as both parents can go to different places using these cars.
If your old car still works well and maintenance costs are reasonable, you should consider buying a new car to meet your needs.
Costs involved in a new car
The car will definitely cost more than the old car. There are, however, benefits such as guarantees. Even car manufacturers offer extended warranties.
Insurance costs are an additional cost related to the purchase of a new car. Because the car is new, the premium can be higher. You must pay for a comprehensive insurance plan covering the damage to the car and other property. But that is not such a bad thing. Accidents can happen and you want to protect your investment.
Such as garbage and other periodic services, maybe a little higher if you need to go to a dealership for services such as garbage, to prevent your warranty from being canceled. However, this is a value-added service that adds to the resale value of the car. In the long run, this type of maintenance will help you protect your car.
Financing of new cars
The financial aspect is one of the best advantages of a new car. There are several loans or financing plans that you can conclude with a dealership and a Bank for car loans. Thanks to financing offers, items such as loans and some maintenance services can be added free of charge.
If you deal directly with a dealer, you must be very firm to get what you want at the absolute lowest price. Dealers usually work on the Commission or a percentage of sales. They will try to lobby for Add-ons and sticker prices. If you are firm with them and can haggle well, you can get discounts on your new car.
Why buy new?
If you can afford to buy a new car, then go ahead. A new car will generally be more efficient and initially cost cheaper to maintain than an older car. It may be cheaper to operate as well, as modern cars have a standard fuel efficiency. These savings can help to see the car paying some of its costs.
Peace of mind is above all what a new car can offer you. When your old car starts to make you doubt or when you feel it’s starting to pinch your wallet too much, you’ll know if it’s time to buy a new car.
To get more details on car financing in Pakistan click here.