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Is It Time For A New Car?

A new vehicle is always a great new pleasure! Everyone you know will be envious!  But in most cases you’re stuck with a large monthly payment for years to come.  Insurance will cost you more with a new car and that does not include all the taxes and depreciation that you will incur.  

As Consumer Reports states, “buying a new car might be a lousy financial move”.

So, how do you decide?  Here’s a few things to consider: 

  • Overall condition of your current vehicle

  • Annual maintenance and repair cost  

  • Reliability of the vehicle

  • Safety of the current versus the new vehicle

  • Fuel economy of the current versus the new vehicle

  • Is the current vehicle less than 10 years old and in good condition? If yes, it’s probably worth keeping a few more years (the average age of vehicles on the road today is almost 12 years old). 

  • Is your annual maintenance and repair costs less than a new car monthly payment? If yes, it’s a good idea to keep your current vehicle. 

  • Upgrading to a hybrid or electric vehicle can help make fuel economy less of a deciding factor.

We understand that is a lot to consider when deciding on investing in your current vehicle or purchasing a new vehicle.  The car care experts at Charles Automotive & Tire are always here to help with deciding and answering any questions you may have.  

Good Luck! 

Sincerely, Gary Mendelson and the team at Charles Automotive & Tire