It’s summertime and you’ve realized your go-to commuter isn’t loving the heat. Maybe you’ve been envious of the convertibles you’ve seen zipping along the highway, or perhaps you’ve realized the mounting gas prices have you pinching pennies. Whether you’ve been craving a car that screams freedom or a money-saving option like a new Kia Crossover, ‘tis the season for ditching your old car.
Summer deals are some of the best, with dealerships eager to get you into a ride with high-powered air conditioning and tinted windows for added sun protection. However, how do you know when your old car has had enough? It’s a bit of a balancing act because you want to make sure you’re starting from zero when getting into a new car. Nobody wants to be stuck having to pay off a straggling balance on their old car loan.
If you’re looking to trade in or sell your old vehicle, now is the time to do it. A quality dealership is happy to give you a fair price, especially in order to get you into a vehicle that’s better suited to your needs. Do some research and price comparisons to know exactly how much you should expect to sell your vehicle for—and what kind of new ride fits into your budget.
Benefits of Newer Cars
There are many benefits to a newer ride, but safety and “greenness” are usually at the top of the list. Newer cars are inherently safer because they feature newer technology. Increasingly, vehicles (including SUVs and crossovers) are designed to be more eco-friendly. Opt for a brand new car, and you may even get a tax credit. Check with your CPA first to be certain, as regulations change every year.
This summer is featuring very high gas prices, which is making some people skip their summer road trips entirely. At the same time, commutes around the country are getting longer. If you have a gas guzzler, you’re not actually saving money by keeping your old car. There’s a good chance you’ll save in the long run by switching to a newer vehicle that gives you better gas mileage. There are also a variety of hybrids and fully electric vehicles available to maximize fuel—or eliminate it altogether.
Why People are Switching
Logistics and rational reasoning aren’t the only reasons people love a newer car. Maybe you’re enamored by some of the new technology available, like parking assist features. Or, maybe you just need to get rid of your old car because you do not want to put the time and money into repairing it anymore. Business owners and entrepreneurs also enjoy a new vehicle because it’s part of representing themselves to clients and partners. Plus, a newer vehicle can be a tax write-off in certain instances. Again, checking with your CPA is critical before tax implications become a part of the car shopping process.
There are also a number of vehicle manufacturers who are ditching sedans altogether. People simply want crossovers and SUVs because their vehicles need to carry more. Drivers want more room, the ability to carry more passengers, and space to make their vehicle akin to a moving studio. With more larger vehicles on the road, it’s also important to keep pace so you’re not at a disadvantage. While being in a larger vehicle is naturally safer, add in the luxury of more space and it’s clear why drivers are steering clear of sedans.
Need even better news? Access to information has made car shopping transparent and easy. It’s enjoyable to test drive, compare vehicles, and consider your options. Make a weekend of it before the cool weather rolls into town, and don’t forget to check out those sunroof options.