Dec 10 2019
When Is It Time To Buy a New Car?
There’s a common belief that the longer you keep your car on the road, the more you save. You’ll also often find dealerships telling you that the longer you put off buying you new car, the less you’ll get for it when its up for sale. Resulting in you having to borrow more to bridge the gap between the money you get for the sale and the money you pay for the new car. While there’s truth to both statements, the right time to buy your new car is all up to your own personal circumstances.
It could be as easy as having a child and realising you need a bigger car! But for some, there’s a little more to it. Economic factors play a big role, including the value of the Aussie dollar or if you can afford a new car right now.
What to consider:
If your car is costing you thousands to keep on the road, it is probably time to part with it. Repairs can be an expensive exercise, especially when they occur constantly. These are inevitable when a car reaches a certain age. Plus, the added cost of having your car off the road for extended periods when your car is in for repairs. Not only is this quite expensive when you calculate rental car /taxis/public transport costs, it also takes up a lot of your time.
This money spent keeping the car on the road could instead be allocated towards a novated lease – a new car at little to no extra cost! This new car will also be much cheaper to run with the array of discounts offered by Remunerator when you take advantage of a novated lease. With a novated lease you can relax knowing you won’t be left stranded or cost you a fortune!
Another factor to consider is the safety of your current car. Safety features in cars have experienced huge advancements in the past few years, with some features that seemed luxury now standard in many models or even required for a 5-star rating. Some safety features are invaluable as they can mean the difference between life and death in a serious accident. If you’ve been driving the same small car for the past 10 years, it’s extremely unlikely that it would even score 4-stars by todays standards. More, take that as a sign that it’s time for an upgrade.
Your safety is invaluable and a new car with a 5-star ANCAP rating will give you and your passengers peace of mind when on the road. Upgrading your car doesn’t have to cost the world, especially on a novated lease.
Finally, your comfort is something to consider too. It may be hard to believe but there are some cars out there that don’t even have an aux cord plug – let alone built in Bluetooth! Imagine having to drive and not being able to listen to your perfectly curated car playlist… or worse, being forced to listen to radio ads. What may have been considered acceptable a few years ago are not in today’s state-of-the-art comfort.
Your comfort while driving is also very important. So, if you’re driving a 10-year-old tiny Japanese car barely reaching 100km/h, it might be time for an upgrade!