Saving Money Tips – Buying a New Car

A new car sounds lovely doesn’t it? Imagine the purr of the new engine and the looks you will get as you drive down the road in the latest model of your chosen car. However, we also know that the new model of today will be the old superseded model in the not too distant future and that the value of the car will go down very quickly.giroparts

So with this in mind we really need to be careful when considering whether or not to buy a new car.

Before rushing off to the car yard, you should grab out a large sheet of paper and write up the top “Do I really need to buy a new vehicle?” Then let the brain cells take a journey and come up with all of the reasons that you can to justify going out and getting a new car. Underneath this, write down all of the reasons to justify why you shouldn’t go out and buy a new car.

Here are some ideas to get you started and some common reasons that people write down:

1. Reasons to buy a new car

Car too small / big

Starting a family and need more room
Can’t fit in all of my gear
Can’t transport all of the kids and their friends around
It is just us now so we don’t need such a large car
We are going away so we need more leg room and storage capacity
No air conditioning
It is just so hot each summer we bake in our car
No air bags
The car has never been fitted with air bags
Lacking accessories (stereo / cd player / gps)
We need to have a cd player
Some new vehicles have an in built GPS so we need one too
The stereo is broken so we need to replace the car
Costing too much money to run
I am always spending money on this car
The car always seems to be at my mechanic
Need to look good at work
My car is a status symbol of my wealth
My boss would look down on me if I didn’t drive a new car
Having a new car will portray a message to my clients that I am very successful
Too old
My car is x years old so it needs to be replaced
I have had this car x years so it is time for an upgrade to a new model
This model is old, I need the newer model
Petrol guzzler
I am always putting fuel into this car
I checked my credit card statement and boy my car is thirsty
I used to put in $x of fuel a week and now I am putting in $y
Running too fast / slow
I can’t keep up with every one else on the road
My foot is almost flat to the floor and yet we hardly seem to be moving
If I don’t sell this I am going to do damage to someone as it just zips off so fast I can’t keep in control
Want security of a new vehicle warranty
I do a lot of travel for work and I want peace of mind if something was to happen
If the car is under a warranty I won’t have to spend any money on it
No longer road worthy
The mechanic said the car isn’t road worthy
I don’t think the car would pass a road worthy test
Want to keep up with the Jones
My friend has just purchased one of these new cars so I want one
The neighbours have just purchased a new car so we should also buy one
I have been offered a good trade in
The new car sales man has offered me a good trade in
I want to trade now whilst I can get good value for my current car
I want a diesel vehicle
I want to change from petrol to diesel as I heard it is more fuel efficient
I need a ute / 4wd / sedan
I want to change from a sedan to a ute
I need to trade the ute for a 4wd
I need a 4wd for my upcoming holiday
I need a ute so I can shift houses
2. Reasons not to buy a new car
Can’t afford it

The repayments will be too high
It is a lot of money for me to spend on a car
The loan will take me 7 years+ to pay back
Don’t really need a new car
I am being silly, I don’t really need a new car
There are other things I need ahead of getting a new car
Old car is going well
My old car works just fine
I can always get from A to B so what else do I need
Too expensive
Although it is new, I feel it is still very expensive
There is a big gap between 2nd hand cars of 2-3 years to the price on these new cars

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