In our society getting a new car every 5 years or so is fairly common. Maybe you like to keep yours for an additional two years, but still – driving around in a 12-year-old car is not that expected in the big city.
That being said, statistic show that people are keeping their cars more and more. Interestingly though, they are buying more new ones as well. But how can that be? It doesn’t sound logical, right? Well, it actually is fairly simple.
As households grow the need for multiple vehicles grows as well. But not only that – people like to have a backup ride just in case. Plus, they often don’t want to bother with selling it. But should you? What are the reasons behind keeping or selling your car? Let’s see!
The Case For Selling
Let us first look at why selling may be the choice for you. First and foremost, you will be getting a new car. With recent developments in engine you can expect some minor savings on gas, or if you prefer to go the ecological route, you can actually get some great tax breaks and fuel efficiency out of a hybrid or a pure electric vehicle.
Plus, on average, newer vehicles tend to have less problems. In fact, issues are significantly more uncommon up to the 5-year mark. And even if something goes wrong with your car then, you know that it has to be covered by the dealership or the manufacturer and you won’t be giving money out of your own pocket for having things repaired.
Another advantage to selling is that not it is easier than ever. If you offer to organize the auto transport, you can actually list your car and sell it halfway across the country. Pretty neat, right?
The Case For Keeping
The main advantage to keeping your vehicle is that you will be getting more out of your money over the long term. You have already bought it, right? So logic says that the longer you use it the more money you will be saving.
However, we should not something here. If your vehicle is not reliable and you are experiencing a lot of issues with it, you may not be saving much money after all. Also, if you have not taken good care of the engine (as most people forget to do it), you may be way off its expected efficiency. Thus you are paying more for gas, repairs and maintenance. Doesn’t sound all that economical now, does it?
Yet, if you are looking to invest in a new vehicle and keep it as long as possible, we can give you a few tips. Firstly, always pick a reliable car that has good reputation online. Japanese brands for example are famous for their longevity. Also make sure to get its proper maintenance regularly, as that will prolong the vehicles life substantially.