What is the best time to buy a new car and then move on to the next one? Which is best, is it better to continue driving the same best car valuation for as long as possible,
Or is it more rational and wise to switch to new cars one after another in short cycles?
Although it has something to do with the vehicle inspection system, it is said that three years after new car registration is one of the best times to change cars.
In this article, we will explain the car change cycle, including the advantages and disadvantages of changing cars every three years.
When is it time to change cars?
After purchasing a new car, when is the best time to transfer to the next car? Of course, car usage environments and budgets differ from person to person, so it may be difficult to find the right timing for everyone.
However, many people consider the timing of vehicle inspections as a trigger for purchasing a new car.
There are many possible reasons why the usage history is increasing, but one reason seems to be that the delivery of new cars has been delayed significantly due to the effects of the new coronavirus, making it difficult to obtain new cars.
In addition, there are many people who do not feel the need to replace their cars because the quality of their cars has improved and breakdowns have become rarer, and there have been no significant improvements in performance.
Furthermore, some people may be thinking of continuing to drive their current car until that time, in anticipation of switching to a next-generation BEV or similar vehicle.
Transfer at the time of vehicle inspection
Looking at the data, we found that on average people buy a new car every 13.87 years, or about 14 years. 2024 is the period between the 6th and 7th vehicle inspections.
After purchasing a new car, it has been inspected six times, and before it passes the seventh inspection, you are giving up your car and switching to a new one.
As cars are becoming longer-lived, vehicle inspections are an important factor in deciding whether to buy a new car in lahore. After all, vehicle inspections cost a lot of money.
If you want to minimize maintenance costs, including vehicle inspections, it would certainly be a smart choice to change your car before passing the vehicle inspection, such as 3, 5, or 7 years after purchase. .
When the manufacturer’s warranty expires
In addition, the manufacturer’s warranty of the car is also a factor when deciding when to buy a new car. Generally, the manufacturer’s warranty for new cars is for three years or up to 60,000 km.
Considering the possibility of future problems, the timing when the manufacturer’s generous warranty expires is also a big factor in deciding to buy a new car.
Advantages of changing your car every three years
As mentioned above, the timing of the first vehicle inspection and the expiration of the car manufacturer’s warranty is exactly 3 years. So, buying a new car every three years is actually a very rational and wise choice.
Three years may seem a bit early, but there are definitely attractive benefits.
You can continue to drive the latest car models
First of all, if you upgrade to a new car every three years, you can continue to drive a new car equipped with the latest features and equipment. Cars are evolving year by year, and newer cars are getting better in terms of advanced safety equipment and fuel efficiency.
If you buy a new car every three years, you will always be able to continue driving a car that is safe and has excellent environmental performance. This would be a big advantage.
Maintenance costs are low
As mentioned above, the manufacturer’s warranty covers the first three years after the car is new, but the reason for this is that there is little chance of mechanical problems occurring within the first three years after the car is new. Automakers are so confident in this that they offer a three-year warranty.
In addition, even if consumable items need to be replace, most of them will be covered by the manufacturer’s warranty.
In other words, if you keep changing your car every three years, you are less likely to run into trouble, and you will not have to pay any maintenance costs for your car.
No need to submit to vehicle inspection
Since the transfer every three years is done before the first vehicle inspection, there is no need to pay for maintenance costs, insurance, taxes, etc. associate with vehicle inspections.
Also, you won’t be unable to drive your car during the vehicle inspection period, and you won’t have to take the trouble and time to take your car to a dealer.
Continue to receive manufacturer warranty
If you buy a new car every three years, you will always be covered by a generous manufacturer’s warranty and can continue to drive a car protected by it.
In the unlikely event that a problem occurs, you can rest assured with this, and you don’t have to worry about maintenance costs. This is also a big advantage.
Disadvantages and precautions for changing cars every 3 years
There are disadvantages and precautions to changing cars every three years. It’s something like this:
Loan balance must be met
If you used a loan when you purchased a new car, you may have a loan balance if you change it after three years. If there is a balance owed on the loan, the car is in the name of the financial institution, so you cannot sell it without permission.
Therefore, you will need to cover the outstanding loan balance. Specifically, you will need to take measures such as using the trade-in value of the car you are giving up to pay off the loan, dipping into your savings, or borrowing money from your family.
If there is no prospect of repaying the remaining balance, you will need to add it to your next new car loan or refinance your loan.
There is a possibility of losing money in total cost.
If you continue to buy a new car every three years with a loan balance as mentioned above, the cost of purchasing a new car will increase in the long run.
If you buy the latest car and sell it within three years, there is a high possibility that it will fetch a high price, but of course there are still some exceptions (Land Cruiser where the used car price is higher than the new car price).
With the exception of, the sale price or trade-in value will be lower than the purchase price of a new car.
In other words, if you look at the total balance between the sale price of the original car and the cost of purchasing the new sell car online valuation, it will be negative in most cases. Of course, you will need to pay for the costs.
There is no problem if the burden is not too difficult, but keep in mind that it may cause negative effects or losses that may interfere with your daily life.
Be sure to carefully calculate how much it will cost to change cars every three years, and carefully consider whether such a car life is really suitable for you.
