IS BUYING A CAR WORTH IT?
When we’re young, we just assume certain things will happen as we get older. We’ll own our home, we’ll get married and have kids, we’ll go on lots of holidays and have the career of our dreams, and we’ll have a car. Most of us imagine buying our first car as soon as we are able. But, the realities of adult life are often a little different.
Firstly, not many of us can afford to buy a car when we are 17 and legally allowed to drive. Even if we could afford the car, driving lessons, insurance and tax make it much more difficult. Many teenagers choose to wait. They want to have fun nights out drinking with their friends, not wanting to become the designated drivers and are unable to afford the associated costs of a car. So it gets put off. It’s all too common to find that even if we’ve passed our tests, we’re approaching 30 without a car of our own. At which point, you might be asking yourself if buying one now is really cost-effective? Or if we’d be better off without. Here are some of the things to ask yourself to help you make the decision.
How Much Would You Spend?
To know if a car would be worth it, you need to know how much you are likely to spend on one. Have a look at some used cars at Border City Autos and explore possible finance options, asking yourself how you are going to pay for the vehicle in the first place. Think about what kind of car you need, how much space, how many doors etc. and try to find options that match to get a rough idea of cost. Then, look online to see how much your insurance premiums are likely to be for that car, how much the tax is, and think about how much fuel you are likely to use.
Of course, all of these costs are relative. The cost of fuel today won’t be the same in a few weeks, or even days and insurance premiums can change drastically, but it’s always good to have a vague idea before committing.
How Much Do You Spend Now?
Then, you really need to work out what you are spending now so that you can compare. If you are commuting on buses or trains, you might be spending quite a lot each week. Would fuel and parking be less? Or around the same? In the time that you’d save on your commute, could you earn more money?
Would A Car Have a Positive Impact on Your Life?
Figuring out the worth of a car isn’t all about cost and money saved. It’s also about how it would impact your life. Even if owning a car wouldn’t save you money, would it decrease your stress levels and make your days easier? Would a car mean that you could be more flexible at work? Or more free and spontaneous out of it? Would you use it often and would it mean that you could go to new places, drive on holidays and explore your local area more? Would a car make your life better?
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