How to Tell When to Get a New Car
- 1). Calculate the cost of repairs. Add up the total you have or intend to spend on your car in the future. Compare this total to the estimated value of your car, as well as to the cost of monthly payments on a new car. If the total is equal to or exceeds either of these values, it is time to get a new car.
- 2). Evaluate your lifestyle. Make a list of your daily activities and transportation needs. If your car no longer meets the needs of your lifestyle because of significant changes, such as a new baby, you might need a new car.
- 3). Examine the body of your car. Note the number of dings, scratches and dents. Call your local body-repair shop and ask how much it would cost to have your car's body improved. If this amount meets or exceeds your estimated value, a new car might be on the horizon.
- 4). Assess your car's reliability. List the times your car has broken down, as well as the amount of time you expect your car to break down. If this amount is greater than once or twice a year, add purchasing a new car to your to-do list.
