Is buying a new car regularly a good idea? This is a commonly debated question and one without a unanimous conclusion. Replacing your car is going to be a must at some point, but how early does that decision need to be made? Here are some things to consider when deciding if you should buy a new car.
Are you trendy ?
With lots of variables to consider when contemplating the purchase of a new car, think about your style and preferences. If you are simply unsatisfied with your car and continuously interested in new styles of vehicles, buying a new car often could be a great option for you.
A significant factor that could contribute to your desire or need for a new car is how much you drive. For those of you who commute 10 minutes to work a day and travel relatively infrequently, a new car every 5 years is not necessarily a must do. If you drive 30-45 minutes one way to work and you travel several times a month, a new car is going to be a real option sooner than later.
Another influential factor that plays a role in the need and desire for a new car is where you live. If you live in the city and your car is sitting in traffic for hours a day, your car has a chance of getting dinged up somewhat regularly. However, many cities in the South especially have moderate climates that are not harmful to your car. On the other hand, if you’re living in an area with harsher weather conditions such as the beach, the climate and the sand will take a major toal on your car. This will create a need for a new car on a regular basis of every 5 years or so.
How New are you Buying ?
When you do get a “new car”, just how new are you buying? If you are getting a car that is 5-10 years old, switching cars around every few years is a reasonable decision, but if your get a brand new car every time you purchase one, you may not need to replace your car every few years.