Knowing when to get a new car can be difficult. Read on to find seven signs that will let you know it’s time to say goodbye to your old vehicle.
In the United States, more than 17 million cars and trucks are sold each year.
These vehicles serve their owners for years, on average. Well cared for vehicles can last for a very long time and go well over one-hundred thousand miles.
No matter how well they are cared for, however, cars have to be replaced. People become very attached to their vehicles, so it isn’t always easy to realize when to get a new car. There is a lot to consider when getting a new car, and for most people, it leads to new debt.
When to Get a New Car
All vehicles degrade with age. Despite our best efforts to keep them on the road, cars and trucks have a limited service life. As they begin to reach the end of that time, vehicles will start to display signs of their age. Some vehicles will experience catastrophic issues that can’t be repaired, but most decline over a period of time.
1. Certain Parts Break Down With Age
While various parts on your car can need to be repaired at any time, there are a few that are known to break down as the vehicle ages. Brakes are one such component because they are used all the time. If your breaks go out, it might not be that expensive to fix them, but it could be a sign of age.
Suspensions are also known to degrade over time. The constant wear on them means that as the car ages, the suspension goes bad. Depending on what happens, repairing a suspension can be very expensive, and if you just fixed the brakes, you might be feeling a pinch.
These repairs can be preludes to even more expensive repairs. Transmissions, the power train, and leaky gaskets are all going to be heading your way. Once these components and systems start to break down, it is a telltale sign of when to get a new car.
2. Repair Costs Exceed Value
As all of this happens, the cost of continuing to repair your vehicle will add up. It’s easy to forget over a year or two how much you have spent. If you sense that you have had to repair a car over a period of time, it might be time to consider getting out.
Most used cars that reach the end of their service lives are not worth much. Vehicles are famous for depreciation. If repairs are costing you more than the vehicle is worth, you are wasting money. Purchase a new or used vehicle to better manage your money.
3. Parts Become Difficult to Find
Unless you are restoring a classic or antique car, parts should not be hard to find. As components are improved and replaced, the availability of the older components goes down. You will notice this hitting your pocketbook and the amount of time that your vehicle has to remain in the shop.
As parts become more difficult to find, they become expensive. The network of mechanics and parts dealers in the country can find almost anything, but it takes more time. This time translates to money, and so the cost of your repairs will continue to increase.
4. Fuel Economy Decreases
As our vehicles age, their fuel efficiency can suffer as well. If you have to start gassing up more often without having gone any further, you will know. This is a sign that the engine is no longer healthy and will require additional maintenance.
Losing fuel efficiency will also increase the expense of owning the vehicle. When you combine increased fuel costs with repair costs, you can see that owning an older used car isn’t going to save you any money.
5. Modern Emission Tests
Many people live in areas where vehicles undergo emissions tests. These ensure that the vehicle is not putting out excess pollution. As vehicles age, their operation becomes dirtier due to the build-up of oil, carbon, and other pollutants. These will escape the vehicle.
If your car used to pass with flying colors but now can’t, it’s because it has reached a venerable age. There are some ways you can improve your emissions, but this is a sure sign that the end of your car’s life is going to be sooner rather than later.
6. Insurance and Safety
Used cars with lower value are cheaper to insure. Vehicles that you don’t have a loan out on can be cheaper as well. However, constant advances in safety mean that owners of older vehicles can see their premiums go up.
If your vehicle is out of date and no longer has modern safety features, the cost to insure it can increase. This is because the chances of you getting in an accident and being injured are higher. That alone will make any car insurance company raise the rates on your vehicle.
7. No Longer Fun to Drive
Something that gets overlooked a lot is the joy of driving. When we first get a car, most people are ecstatic and happy. They drive more often and enjoy the drives. Familiarity does temper this feeling, but nice cars are nice to drive. If your vehicle is old, embarrassing, or just not fun to drive, it is time to think about replacing it.
Old Cars
Before you ditch your old vehicle, remember there are parts on a car to scrap. These can get you back a little bit more money on your vehicle. Anywhere you can save money and get back something for the years you drove the vehicle is a good thing.
Getting a New Car
New vehicles are amazing in a lot of ways. As the years since your last vehicle purchase go by, new features and amenities are put into vehicles. You will find yourself having a lot of fun just exploring what your new car offers.
New cars are also safer than older vehicles. The rates of injury and death from accidents continue to fall every year. When to get a new car is when you begin to question your safety in any way. Buy a new or used car that you can drive and be safe, happy, and save money in.
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