At Cartelligent we’re somewhat obsessed with new cars so it’s no surprise that we often think they’re a good idea. That said, there are times when a new vehicle becomes a necessity rather than a luxury. If your current car is becoming unreliable, no longer fits with your lifestyle or doesn’t meet the needs of your family, it can make sense to explore upgrading to a new vehicle.
There are a number of reasons why a new vehicle can be a good decision. We’ll discuss each of these in more depth below:
1. Your lease is maturing
If the lease on your current vehicle is maturing you have a few options: buy out the lease, buy or lease a new vehicle, or return the vehicle without replacing it.
A number of brands have specials available to make leasing attractive and to retain existing lessees. Many Cartelligent clients decide that leasing is a great way to consistently drive a newer car whether they continue to upgrade their current model or take advantage of the opportunity leasing provides to try new brands for a shorter period of time.
2. You want to save money on costly maintenance and repairs
Cars are lasting longer these days and, when they are maintained regularly, many vehicles continue to run well past 100,000 miles. That said, even well-maintained cars are likely to need major repairs as they grow older. At a certain point, it can make sense to replace the vehicle before it becomes unreliable or requires a significant investment to repair.
3. You want to save money on gas
Today’s fuel-efficient vehicles can easily save you hundreds at the pump each year. Clean diesel cars, hybrids, plug-in hybrids and electric vehicles can achieve even greater fuel-efficiency although they may also come with a higher sticker price.
Additionally, electric vehicles and plug-in hybrids can also take time off your commute by allowing you access to the carpool lane. For many, this time savings alone can justify the purchase of a new vehicle.
4. You want the latest tech and safety features
Many new cars have features available that seemed impossible only a decade ago. From head up displays to crash prevention systems to AppleCarPlay, technology is making cars safer and more enjoyable to drive.
Today’s safety features not only mitigate the damage in the case of an accident, they can actively work to prevent accidents from happening. The Insurance Institute for Highway Safety calculates that vehicles with adaptive headlights have 10% fewer accidents while forward collision warning systems with active braking can result in 14% fewer accidents.
5. You need a larger vehicle
Whether your lifestyle requires carpools, frequent road trips or you just need room for a lot of stuff, there are times when it makes sense to upgrade to a larger vehicle.
Minivans and SUVs can be ideal for those looking for additional capacity. Extras like captain’s chairs and rear entertainment are excellent for multiple children while Pandora radio can make getting to your next vacation far more enjoyable.
6. You’re moving to a new environment
Your FIAT 500e may have been the perfect car for your Berkeley lifestyle, but your new home in Half Moon Bay has a half-mile dirt road driveway you’ll need to traverse every day. Sometimes a change in house or job is so radically different that a new car is the best option.
In this case, it can help to think critically about how your lifestyle has changed and what features you will need in your new car to accommodate those changes. Your Cartelligent agent can help you prioritize these and make the best decision for your new surroundings.
7. You’re ready for an image upgrade
If you’re still driving the Honda Civic your parents bought you even though you’re a rising financial analyst, a new vehicle can be essential for your image. In many professions a new car can be a necessity, indicating that you have the confidence and skills required to succeed.
While a new Ferrari or Lamborghini may still be beyond your means, brands like BMW, Audi and Mercedes-Benz can signal success without a monthly payment that dwarfs your mortgage. Leasing can be a good option in these circumstances, allowing you to consistently drive a newer vehicle for a lower payment than financing.
No matter what your reason is for buying or leasing a new car, Cartelligent can help you get a great deal on exactly what you want. Call our team of car-buying experts at 888-427-4270 or get started today.