When’s The Best Time In Your Life To Buy A Car?
Buying a car is a good investment. It can make your daily commutes easier, allow you to travel across the country, and driving can also be an excellent hobby. Everyone loves to have their own car, and you can customize it to make it a truly personal belonging.
But don’t rush into buying. If you’re at a stage in your life where you won’t drive much, it may be better to wait. Keep in mind that operating a car doesn’t just involve the cost of buying. You also have to consider insurance, maintenance, and fuel prices.
There are certain points in your life where it makes perfect sense to buy a car. There are also times where you may be able to get a much better deal on a new car. For these reasons, sometimes it’s worth waiting to make a car purchase. Whether it’s your first car or a replacement for your last one, here are some of the best times to invest in a car.
When Your Current Car Is Depreciating
As much as you might love your old car, if it’s on it’s way out, it’s better to replace it. A lot of things can wear down on a car over the years. High mileage can make a car less valuable. General use can wear down on components such as tyres, brakes, and the clutch. Your car may simply become outdated. New vehicles with breakthrough technological equipment are always being released.
Sometimes it’s better to get a new car before your old car becomes completely invaluable. This way, you can make up some of the cost of a new car with your old car. Dealerships which deal used cars will often allow you to trade your old car in for credit on a new one. Another option is to sell your car yourself. You could advertise it in the newspaper or even online to find buyers.
Before selling your car or trading it in, make sure it’s as valuable as possible. Paying for some servicing and a new lick of paint can help you get a much better price. If you sell at the right time, you can get the best possible value out of your old car and move on to a brand new model.
When You Find A Good Deal
Cars are a huge consumer commodity. For that reason, there’s always ways to find an appealing offer for buying a car. In high-sales months like December and January, you can find many dealerships offering reduced prices on cars.
A lot of dealerships also advertise special offers all year round. Sometimes slightly older models of cars get a discounted price to make way for new models coming in. Check local dealerships and also dealership websites such as Thames Motor Group to see what deals are available. You may just find the perfect offer on a car you want.
You could also strategically plan to buy when dealerships are trying their hardest to sell. In March and September, new number plates arrive. Many dealerships will offer reduced stock in February and August to get rid of the old ones. You could also get a vehicle when it isn’t in high demand, for example buying a summer convertible in the winter.
Also, keep in mind that car dealerships have sales targets to meet. At the end of each month, salespeople will be trying harder to shift cars to reach quotas. This becomes even more crucial at the end of each quarter. December is one of the best times overall to buy a car, as dealers will be trying their hardest to meet their yearly sales target. This is an ideal opportunity to haggle for an excellent price.
When You Get Your License
In some cases, the best time to buy your first car is when you’ve just learned to drive. Getting a car instantly helps you put your newfound knowledge to work. If you wait too long, you may forget some important aspects of driving.
This isn’t practical for everyone. Since a lot of people are young when they first start driving, they may not have the funds to buy a car when they’ve just learned. Also keep in mind that younger drivers usually have to pay much more for car insurance. Waiting until you’re 25 makes insurance cheaper.
Sometimes it’s much more practical to get insured on a family member’s car instead of having your own. You can use their car to keep your driving sharp without destroying your wallet.
When You Start Working
Obviously, a good time to buy a car is when you’re making money. University students may want to hold off buying a car due to the high costs of education. However, once they’ve graduated and started work, it’s the perfect time for a vehicle purchase.
Having a job will most likely involve daily commutes. Having a vehicle helps you get to work on time each day. If you’re going to use your car at least five days a week, it’s a good investment to have one. If you’re moving to a new area to work, having a car also allows you to drive home for visits.
If you’re lucky, your job may make getting a car cheaper. Some companies have schemes with dealerships to offer employees reduced prices on car purchases. Certain industries will also give you a company car, saving you from having to buy one at all.
When You’re Starting A Family
If you’re single, you may find that you don’t even need a car. When you have a partner, you might need to give the occasional lift or drive them out to dates. When you have children, you’re definitely going to want a car.
Having a spouse and children means you’re likely to get much more use out of your car. Kids will often need lifts to school, friends’ houses, and extracurricular activities. It’s also ideal to have a car for family outings and holidays.
There’s a lot of excellent family cars on the market specifically for this purpose. It’s one of the times of your life you’ll really appreciate having a car.
When Money Isn’t An Issue
A car is most likely the second biggest investment you’ll make in your life. Many people use a cheap car to get them from A to B for years, to save them worrying about money. But when you don’t have to worry about money, you can get the best upgrade possible.
If you’ve landed a huge promotion or an excellent performance bonus, a new car is a good way to treat yourself. You might be able to get the luxury car you’ve always want, or a powerful jeep to suit your personality. If money isn’t an issue, you can finally get your dream car without worrying about finances.
It may sound strange, but it’s possible that the best thing to do is never buy a car at all.
This doesn’t mean you can’t have one. Leasing a car gives you all the perks of having your own car without you having to worry about certain drawbacks. When you buy a car, you’re probably going to have to pay monthly payments for years before owning it. Once you do own it, it might already be outdated or running poorly.
Leasing a car means you pay the same monthly payments without owning the car. Once your lease is up, you can start leasing a new car. You’ll have to pay continually, but it’s a good option for those who want to get new cars every few years regardless. If you no longer need a car, you can give your old car in without starting a new lease.
For certain circumstances, you might not even need a car. Cycling to work can save a lot of money and give you some exercise. Public transport can fill in the gaps. If you find you need a vehicle for something like a holiday, you can always find short-term rental cars.