How to Know When it’s Time to Get a New Car

Motorists often spend time looking at what other cars are on the market. Even if they’ve only recently bought a new model, there’s a good chance they’ll be checking out what’s coming next off the production line. After all, there’s so much choice.

Plus, with changes to the way we drive in the pipeline, it makes sense to start planning ahead. There’s a lot to consider in the coming years.

If you’ve had your car for a while, it might be time to start looking around at what’s available for your budget. But how do you know if it’s time to make the switch to a new model? Here are some things to look out for

Maintenance

Are you spending more on maintaining your car than you used to? If you’ve been forking out for quick fixes and larger jobs on your motor, it could be time to change things up.

Think about how much you bought your car for and weigh it up against how much you’re spending on repairs and other updates. This is a good way to see if it’s cost-effective to start over again with a new model.

Additionally, there’s an increased risk of your car breaking down at the worst moment. You need a motor that’s reliable.

Deprecation

Within the first five years of a car’s life, it loses around two-thirds (60%) of its value. To reduce the impact of this drop in value and maximise your chances of getting a good resale value, it’s recommended that you sell the car before it hits its peak depreciation point.

Alternatively, car leasing allows you to get a brand-new car every two to four years. This gives you the chance to enjoy a newer model without the stress of trying to sell your car on at a drastically lower price.

Mileage

Drivers searching for a second-hand car will look at the mileage. Cars that have 40,000 to 60,000 will sell for more than those clocking in at 80,000 to 100,000 miles. This is because it’s the biggest giveaway of how much wear and tear the car’s likely to have.

If your car’s miles are close to hitting the higher bracket, it could be time to go for a new model. Doing it at this point is more likely to bag you a better sale price.

Refueling

The miles per gallon that your car uses decreases as time goes on, making it less efficient. This is why you’ve probably been refilling your older model a lot more recently. If you’re on the petrol station’s forecourt more than you used to be, this could be a sign for you to make a swap to a newer car.

Outdated

When you bought your car, it probably ticked all the boxes. It had decent safety features and impressive tech. But if it’s not quite right for you anymore, it could be time to upgrade. Perhaps you need a motor that’s better suited to your commute to the office or maybe your family’s grown since you bought the three-door and you need a five-door now. These lifestyle factors all need to be taken into account when considering the car you drive.