when does it make financial sense to replace a car you bought new for the exact same model?

Answer 1

At the end of 2nd year (3rd as a last resort).
According to insurance companies, the resale value of a vehicle is at it's best then.

Answer 2

If you bought it new, you have to hang onto it a while to make up for the horriffic depreciation of the first 2 years.

If you are talking about Financial sense, I'd say that when you start getting hit with big garage bills, it's time to buy a new one. So for me this would probably be at around 100,000 miles.

I disagree with some of the other answers. If you buy a brand new car every 2 years, all you are doing is putting money into the pockets of the finance companies.

Answer 3

Financially it would make sence to trade it in before the depreciation value of the car drops below a comfortable number. Replacing with the same model doesnt matter,thats what Im gonna do. I want trade my '05 Chevy Cobalt for an '07 Cobalt. The newer models have more upgrades.....If anyone else drives a Cobalt, Check out yourcobalt.com.

Answer 4

if you have been maintaining all along it really doesn't make sense.
i unless there are so many things falling apart.. its always in the shop
used has less fees and insurance and maintenance costs and are far less to own than new payments. plus way way better for the planet to keep the old if kept up an efficient.

if your repairs and other costs become more than fro a new car then it makes financial sense.
if you replace with good for the planet alternate energy or can heavily reduce the energy consumption..added mpg..then it makes other sense.

Advertisers work hard to convince us we must have new bigger better repeatedly. so they can all make lots of money.
NOT Buying into making them rich and you poor is what's SMART!

Answer 5

maximum secure determination is to place your spare on and get on your nearest tyre depot. There are quite a few aspects dictating to no rely if or no longer it quite is repaired, IE has it been pushed on flat? the place is the hollow? how enormous is it? what's the fee score of the tyre? any previous maintenance? it quite is not counseled to stress on a tyre with a nail in in any respect . Having suggested all that for the time of many cases all you get is a nail that hasn't quite punctured the tyre. the thank you to stipulate that's to place some soapy water on the nail then wiggle it gently. any sign of bubbles or foaming denotes an air leak so be arranged to alter the wheel in case this happens. besides the fact which you do i could get it regarded after earlier too long

Answer 6

As soon as you buy a car and drive it off the forecourt it depreciates in value. Its a well known fact that if you were to sell your car you wouldn't get the price it cost you when you bought it new.

The only financial gain would be by the car dealer if they convinced you the only way forward would be to part exchange it and get finance on a newer car.

Answer 7

Is the older car a dependable car? what other Martians will it need and it cost?
The other big consideration is insurance, do you have full coverage now if not what will is cost. And is the car easily to work on ,like does it have a common engine and model.

Answer 8

you will be at a loss of around £1000
as soon as you buy a new car you have lost money

Answer 9

After one or two years of ownership, when your car isn't new anymore?????

Answer 10

if i was getting more for my car than the new one and the new one was in better nick and maybe had more gadgets