Is Your Car Costing More Than Its Worth?

It may seem the responsible thing to do to hold onto your existing older car whilst

the economy is unstable, but it is worth considering the dangers this could cause to your wallet, the environment and to other drivers. Is your car costing you more than its worth?

The idea of purchasing a new car can seem daunting, especially given that the price is probably the second largest sum of money you ever pay in one go after your home. With uncertain economic times, it is particularly worrying purchasing a new car, making it easy to hold onto your existing car, at least until the market picks up anyway.

Whilst replacing your car may seem overwhelming, it is worth considering the implications of holding onto your existing car. The age of your existing car can affect the amount of money you are currently spending on the running of your vehicle. Replacing your car may cost more from the outset but servicing and fuel costs could be significantly lower than the running of your existing car, especially if it is more than ten years old.

Cars nowadays are much more efficient. Not only does this save you money but they are designed to release less C02 emissions, making them much more environmentally friendly. Whats more, with time becoming increasingly harder to obtain with work commitments and home responsibilities, replacing your car can see you spending less time on repairs and more time doing the things that matter.

Whats particularly worrying however, is the amount of people driving unsafe cars. It is easy to hold back on the replacement of a car because of money concerns and whilst you may feel the responsible thing to do is to wait until conditions stable, your car could be a major hazard for you and other drivers on the road. With older cars, things are more likely to go wrong and astonishingly many people are choosing not to service their cars.

This said, not all older cars are costly or dangerous, but it is important to check your car and make sure that it is not a danger and that it is not costing you more than its worth. If you are unsure, ask your local dealership.

The good news is that you dont have to pay off the whole car purchase up-front. Carlyle Finance can offer you your new car on finance to help you spread the cost. Carlyle Finance are dedicated to ensuring you get the right car on finance and are able to provide you with support and advice should you need it.

by: Graham Filmer

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