I can’t afford a new car.
Buying a new car today has some people scratching their heads wondering if they can afford it. They search online for the best price on a new car or lowest monthly payments on a new car. What often gets left out of their equation is the cost associated with keeping the older car they are currently driving. This expense can dramatically change the real cost of owning a new car. Let’s dig into the facts and take a closer look at why buying a new car may be less expensive than you think.
When buying a new car you will quickly realize that cars have become more expensive and feature loaded than vehicles in the past. Automobiles from just a few years ago have less safety features and drivers aides than newer vehicles. Not to mention, current automobiles are far more efficient and less polluting than older cars, trucks and suv’s. Vehicles from just a few years ago probably do not feature collision avoidance, backup cameras, lane departure warnings or even traction control and supplemental restraint systems.
When buying your next automobile, be sure to think about maintenance. A newer auto will not require service on things like brakes, tires, transmission, bearings or other wear items. These expenses on an older vehicle will need to be rolled into the equation when comparing keeping and older car versus buying a new one.
Automobile insurance rates on newer / safer vehicles could make a dramatic impact on the overall cost of ownership versus keeping your older vehicles. Factors like insurance are often removed from the equation when buyers are seeking a new vehicle, but it shouldn’t be. Cost of ownership should include all of the factors involved. Factors like maintenance, payments, insurance, parking, washing / detailing and depreciation should all be considered.
When looking for a new vehicle, please look at the entire cost of ownership and you may be surprised to find that new car you want is actually less expensive than keeping your older one.
Review this blog article for some good advice.
Sutherland Chevrolet will help guide you through the process!
Connect with us
