We often come across situations when we feel the need of a new car. However, it is really hard to justify the real need of the new car. There are some basic criteria that define whether it is the right time to buy the new car. These are very simple but yet very significant criteria that people often ignore.
If the performance of your old car is reducing then you must consider getting a new one. There are certain factors that need to be discussed here. The repair cost often shoots up with the increasing age and decreasing performance. It is often observed that cost of repair is increasing so much that you can, in fact, buy a new one. The poor performance also reduces the mileage of the car along with the other costs. If the car consumes more gas than normal, then the time has come to shift to the new car.
Very often it is seen that increasing number of family members demand a new car. You may have a small car, but that may not fit when you have kids. A bigger car will be required and that is a good reason to for the new one.
In a growing business, vehicles are required. However, that always depends upon the business you are in. But there is no point in denying the need for growth. If it is required to expand, you must go for it.
However, there are other factors involved in purchasing a new car. These are also the requirements and go hand in hand with the situations.
You may have the necessity of a new car, but you always need to respect your budget before taking the decision. If you are short of the required budget, then new car is asking for debt and trouble. It is better to consider your financial compatibility for a new car purchase.
You may not have the budget, but you may look out for the car financing. However, you must be able to bear the installments in this case. If you can get the financing for the new car purchase, then the time has come when you can take the steps to buy the new car.
Why buy a new car?
This is the bottom line of all the probable conditions that may prompt you to buy a new car. It all depends upon your affordability. If you can afford the new car and the situation arises, you can for it. A new car always reduces the maintenance and repair cost. It also enhances your performance. However, if your financial condition does not allow you to do that, then it is always better to wait. You may have reduced after purchase cost, but the initial cost of the car may seriously damage your economic stability.
A new car is desired by all, but a wise person does not take the decision in a hurry. Your pro-active measures are utmost required when you analyze that the time has come for a new car.