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When is the right time to upgrade your car?

By: Louise Mosqueda0 comments

Cars are an essential part of everyday life. Once you get a vehicle of your own, it’s in your best interests to do everything you can to ensure that you can maximise how you use it. But there will come a time when you will want to upgrade it for a newer model.

When is the right time to upgrade?

Merely wanting a new set of wheels to drive is not a good reason to upgrade your car. Considering the depreciation that comes with vehicle ownership, you will first want to ensure that an upgrade is best for you and your family. Here are some instances to consider when thinking about upgrading your vehicle:

Change of situation

Your car should reflect the current needs of your lifestyle. A good example is when you have a family. Not only will you need the extra storage space for the pram and child seats but you’ll want to protect the family with better safety features.

Disposable income

If you find yourself with some unplanned disposable income, then it’s time to choose how this can make a difference in your life. Whether that is buying new appliances for the home, upgrading the family car, or treating the family to something that everyone will enjoy, the choice is yours to make.

Your current vehicle isn’t practical anymore

There comes a time when your car no longer serves the reason you got it in the first place. So, if your single without kids, then a large SUV may no longer be the best vehicle for you. Instead, you might be better suited to a smaller car.

Maintenance is becoming expensive

You always hear about the importance of car maintenance. But if you start to find yourself spending more, then this might be life’s way of telling you its time to upgrade.

An easy way to get a car

Once you decide that it’s time to upgrade, the next step is to figure out how to get a replacement vehicle. You can either buy one outright, get a car loan, or lease a car. If your credit history is an issue and you need a car quickly, then car leasing may be a more suitable option for you.

Not only can you select a car according to your current situation, but you can bundle registration, insurance and lease payments in one convenient amount, and can even upgrade your car to a newer model every few years, depending on your contract.

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