A former car salesman recently got on Reddit and talked about the most common reasons people gave for needing a new car. Here are two good reasons he heard all the time, and two bad reasons . . .
Bad Reason #1: You want a new car, because it’s a status symbol. In other words, it’s just an ego thing. If you’ve got plenty of money and looking professional for your job is important, then go for it. But if it’ll make paying bills a lot harder and you DON’T really need it, then think long and hard about how important it really is.
Bad Reason #2: You want new technology, like Bluetooth or an mp3 player. He says that’s one of the TOP excuses he’s heard for needing a new car. But you can add those features to your current car for a lot less. Like $200 compared to $30,000.
Good Reason #1: Your current car is breaking down a lot. If it’s got a ton of miles, and you’re constantly having it fixed, it’s time to start thinking about a new car. But if your current car is all paid off, just do some quick math first. Estimate how much the repairs might cost over the next year, and compare that to what a new car payment would be.
Good Reason #2: You’re worried about safety. Newer cars have more safety features than older cars. Especially if you’re still cruising around in something from the 90’s. And bigger cars tend to be safer too. Which is one reason people buy SUVs, trucks, and minivans once they have kids.