One of the subtle hazards of being a football fan is the temptation that comes from all of the televised new car advertisements during the football games. Many otherwise contented adults fall victim to the hype and make an impulsive decision that will cost them dearly for years. Sometimes these decisions are motivated by nothing more than boredom, and otherwise careful decision makers get sucked into the whirlpool of conspicuous consumption.
New cars have many costs besides the sticker price. The immediate depreciation loss when you drive it off the lot is well known. Unless you can afford to pay cash for your new car, you will spend a considerable amount on interest in addition to the cost of the new car. New cars require more expensive collision and comprehensive insurance coverage also because the lender has an interest to protect.
One of the most frugal decisions you can make it to hang on to your old car and use it for another year or two before upgrading to a new model. If your car is paid for, you can get away with carrying only liability insurance coverage. Avoiding car payments would be the biggest savings. Of course keeping your old car requires proper maintenance and upkeep, but that is much less expensive than new car payments and all of the additional expenses that come along with them.
If you are tempted to trade in your old car for a new one, whom should you ask for advice? Obviously, the new car salesman has an interest in helping you see that the new car is your best bet. A trusted mechanic could be your wisest counselor in this situation. He can give you a realistic assessment of your old car’s condition and what repairs would likely become necessary in the future.
If you do opt for a new car, your mechanic would have some insight on which models require the most frequent and costly maintenance and which ones are the most dependable. Your mechanic can save you a load of money if he convinces you that he can keep your old car roadworthy for another year or two.Do you have a mechanic who will take the time to have these conversations with you?
As your Brevard County auto repair facility, we are well equipped to perform major repairs or provide routine maintenance on your car.
Comments are closed.