Think your car is a little old and worn out? If so, then there’s a good chance that you’re looking to replace it with something a little newer. Perhaps you’re tired of the same old vehicle and are looking for a change, or perhaps you’re interested in the features of a new car that you’ve read about. Whatever the case is, replacing your current vehicle isn’t the most straightforward thing and there are lots of opportunities to save money and stretch your budget further.
Do you really need to keep the same car form factor?
If you’ve got a car in mind already then this tip probably won’t apply to you. However, if you’re still open to different car choices to replace your current vehicle with, then you should consider changing the form factor.
For instance, if you’re accustomed to driving a small vehicle that just about fits you and your partner, then you could consider upgrading to a larger car such as the Chevy Silverado as a family vehicle. On the other hand, you could also think about downgrading the size of your vehicle if you no longer need to carry around other passengers. There are loads of different decisions to make when it comes to changing the form factor of your vehicle and you should always be open to trying something different.
Are there any trade-in programs to get a bit more value from your car?
Many people don’t realise that their local dealerships are likely offering some kind of trade-in program to help you extract more value from your vehicle. You should look around for different dealerships and see which trade-in programs can give you the most value for your vehicle. Some trade-in programs are exclusive to the manufacturer themselves, but you might find fantastic deals at used car dealerships too. It’s all about doing your research and getting personalised quotes by contacting them. Alternatively, you could just sell your vehicle first before you decide to buy a new one, or you can recuperate your costs after buying a new car by renting out your current vehicle instead of outright selling it to someone else.
Can you afford something a little more expensive?
When replacing your vehicle, you have the choice of either upgrading or downgrading. If you’re upgrading, then you may want to think about the additional costs of running a car that comes with a bigger or newer vehicle. However, there are also some cases where newer cars can be cheaper to maintain and run. For instance, they might have updated security features that reduce the risk that you’ll be in an accident. Coupled with your clean driving record, this could drastically reduce the insurance costs of your car. Alternatively, you could just go with a cheaper vehicle for the lower initial cost. This is usually the case for people that won’t be driving as much as they did before and just want a smaller city vehicle to get around.