The feeling of buying a new car is one that we do not get to encounter often. Cars became part of the family and bond and maintained like pets. Unfortunately, just like other assets that we cherish, they depreciate with time.
Even though old is gold, there comes a time when you need to let go and look for a better car. Here are five signs that call for selling your old ride:
Your lifestyle has changed
Change is the only constant in life, and as it happens, it necessitates a lifestyle change. As you grow, the taste and events determine what you need. If you were a sports person in college, you should upgrade your wardrobe when you secure a job.
Likewise, many people prefer buying sports cars at their youthful stage because enjoying life is the only thing in mind.
When you marry and are blessed with kids, you will want to upgrade to a more decent car like an SUV. Rather than letting your car waste off in the garage, you can make some money by selling it to cash for junk cars. You can invest the cash or top up and acquire a new one.
High repair cost
New cars are very efficient to maintain. Routine service for changing oil, air filter, and old tires is the only cost you incur. However, as the car ages, the moving parts become less intact, and with time engine loses its power. You know, become a regular customer at the local garage, which comes with a hefty cost.
To avoid incurring unnecessary costs, save money sometimes, and sell the old car. It is a tough but necessary decision to make. It saves you thousands of dollars and restores your confidence because you will drive without any fears of breakages.
When you cannot find the spare parts in the market
Production of spare parts is purely driven by demand. Imagine driving a 1962 ford Mustang, and it breaks down. Where will you get the spare parts? Every shop you visit will have all the spare parts for the high-selling Ford Explorer or Escape or F-150 truck. This indicates that you should sell the vintage Ford mustang and buy the latest model.
Sometimes vintage enthusiasts have this cliché that tradition is forever is important than service without realizing the cost implications of maintaining these unworthy road vehicles.
Lack of fuel efficiency
Cars, just like other assets, age with time, and as your vehicle gets old, they become less fuel-efficient. If you were using a liter of gasoline for six kilometers, you might need two more liters to cover a similar distance.
At this point, you need to sell your car. It is not rocket science! Fuel inefficiency not only adds more burden to your squeezed resources, but it is also very costly to the environment. When our car is burning more fuel than usual, more carbon is released into the atmosphere, increasing air pollution. The government should set stiffer laws to eliminate such vehicles from our roads.
Sell your old car when you are ready to buy a new one
Your car should be very comfortable because you spend several hours on it every day. All vehicles are very comfortable and reliable when new but comfort reduces with age. It is not advisable to sell your car when you do not have enough money to get a new ride.
To be on the safe side, start making savings when you start feeling dissatisfied with your vehicle. When your savings can buy the car of your dreams, dispose of the old ride and get a new one.