When is a Good Time to Buy a New Car?

a front of an orange car

The idea of buying a new or used car may cross your mind when repairs seem too expensive, but replacing your vehicle should not be your first option. In some cases, buying a new set of equipment may not even be the right choice.

For instance, car owners who want to reduce tire wear can simply pay for wheel alignment services in Hamilton or Auckland, the prices will depend on the condition of your car, especially if you seldom bring it to the mechanic for maintenance work.

Cost of Replacement

One way to determine if it is a good time to replace your old vehicle is when the cost of repairs would be higher than a year’s worth of monthly payments. For instance, a $400 monthly fee to have a used car would be more practical than paying for an upfront fee of $5,000 for repairs.

Once you decide on a replacement, find out how much it would cost you on taxes and registration fees. It normally costs buyers at least $2,000 on buying a second-hand vehicle. If you are still undecided, some tools such as the Automatic Transmission Rebuilders Association’s “Fix-it or Trade-it” calculator may help you.

This provides owners with a cost-per-mile calculation on whether it is better to replace or repair a car.

Fuel Efficiency

While used cars are a good option, consider buying a brand-new vehicle that is fuel-efficient. Gas prices in some parts of the country have reached $2.51 per litre; hence, it makes sense to spend your money on a car that lets you save on fuel.

Maintenance is also key to extending the lifespan of your new car, so be sure to bring it to an auto mechanic for routine inspections.

Conclusion

Car owners need to take their time in choosing between replacing and repairing their vehicle. A hasty decision only causes you to spend more than necessary — money that could be used for other important expenses.