Your car is getting older, you have taken really good care of it all these years, you are faced with a larger repair or large maintenance estimate. You are thinking of calling it quits and just buying a new car to replace your used Audi or Volkswagen. Think again.
You ask yourself… “Is it cheaper to just get a new car?” The answer is simply, no, it is not cheaper in most cases.
Automotivenews.com just released this article about what the average household can afford for a car payment.
What they do not mention in this article is that on top of a car payment (that you most likely did not have before) new cars still require maintenance the first few years and repairs after that.
There is an awesome tool Edmunds.com offers that I love to use to show customers how much a new car actually costs. It is call the True Cost To Own. What does a newer car ACTUALLY cost. It is more then the monthly payments. You need to consider the depreciation, higher registration, higher insurance costs, maintenance, and repairs over a 5 year period.
You could be looking at up to $1 or more PER MILE to drive a new car. Whereas keeping the car you already own on the road for around ten to twenty cents per mile sounds wayyyyyy more reasonable. Why would you want a new car? Think about what you could do with all that extra money you would be saving over the years? Go on a family vacation? buy that hot tub you always wanted? or just save it for retirement?
Please educate yourself when thinking about purchasing a new vehicle. Keeping what you have is financially the smarter choice.
As always, we are happy to look through a vehicle you are considering to purchase. And, if you’re in the market for a pre-owned VW or Audi in NH, check out Reflex Tuning’s Pre-Owned inventory!