When Should I Upgrade My Car?

There are a number of reasons why you might want to upgrade your car. Perhaps it’s falling apart and the cost to repair it simply isn’t worth it any more, or you’re keen to drive around in style and your current vehicle just isn’t cutting it.

Whatever it may be, upgrading your ride is a big decision so it’s important that you think about it carefully before taking the next step. We’ve compiled a list of reasons why you might need to upgrade your car so that you know you’re making the right choice for your lifestyle - keep reading to find out more.

10 Reasons You Might Need to Upgrade Your Car

1. The Car Has Depreciated

It's a sad fact that cars depreciate, and once they are past the initial new-car glow and have done a fair few kilometres, many people start looking at upgrade options. If you're eyeing up a new car, you might find it helpful to work out the difference in price between your current vehicle and one of similar age with higher kilometres.

2. The Car Needs More Than a Little Attention

No matter how careful you are, your car will eventually need maintenance. Check the level of service intervals and cost, as well as the difference in price between servicing your vehicle and someone else's. Also, consider what other services your car needs to keep it going – oil changes and tires keep vehicles on the road longer; brakes, tires, and engine checks help you get from A to B more efficiently.

3. The Cost of Repair

Even the most careful driver can forget to do an oil change, and if you're prone to leaving the lights on after dark, you may run into more road hiccups. Minor issues that require some minor repairs can add up quickly, and while a one-off price may seem agreeable during a cold snap, it can add up over time.

4. Confidence in the car

If you're regularly worrying about your car breaking down on the side of the road, it's probably time to think about buying a new vehicle. Even if your current car is still going great distances and getting you where you need to go safely, being behind the wheel of a newer model may inspire confidence and ease some of the stress you feel behind the wheel of your current vehicle.

5. Your Finances Have Taken a Hit

Life throws us curveballs, and when it does, our financial situation doesn't always keep up – you may feel a sudden or sustained financial hit can be just the motivation you need to upgrade your car to something more economical. If you're still unsure when the perfect time is to upgrade your car, one thing is sure – now is an excellent time to think about it.

6. Your Family Has Grown

If you consider car payments are usually the second-highest expenditure after rent or mortgage, it's easy to see why someone would want to upgrade to a car that can fit a growing family. If you're looking for a seven-seater SUV instead of a five-seater sedan, it might be time to consider upgrading.

7. Your Needs Have Changed

Being stuck in a rut is generally a sign that it's about time to splurge on a new car, and if you've been thinking about doing so for a while, maybe this is the perfect moment. If you've been driving the same car for a decade, it's about time to switch up your wheels. While the excitement of buying something new can wear off after a few months, the comfort upgrading to something that fits your lifestyle better will last much longer.

8. You Need More Space

If you are the kind of person who likes to take friends out for a drive, or perhaps you need more room for afterschool activities, then you might want to upgrade your vehicle to fit a few more people and cargo comfortably. If you love to travel and only have an old sedan, then perhaps it's time to consider something with more space – a nice SUV or even a van can help make your adventures easier.

9. You Want Something Better

Some people are particular about the car they purchase, and others settle on something just in their budget. Perhaps you're looking for a better-performing ride with lower fuel consumption. Whatever the reason, if you're thinking about an upgrade, make sure it's worthwhile because the last thing you want to do is hit the road with a vehicle that doesn't perform as well as you'd like.

10. You Want to Make a Statement

Some people want a car that is trendy and if that's the way you feel, then now is the time to ensure your vehicle can fit in with your current lifestyle. Whether you’re looking for a flashy sports car, or you’re hoping to upgrade to the latest electric vehicle - if you want a vehicle that reflects your personality and values, it might be time to get a new vehicle.

Buying a car is not just about convenience and transport; it is also about how much you are willing to spend and what you want your car to represent. If you have any financial strains and need to upgrade your car, then Better is here to help you; consider applying for a loan with us today for your needs. For any inquiries, get in touch with us today.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.