Three Factors To Consider When Deciding If You Should Buy A New Car [Infographic]

If your car is crapping out and you're thinking of getting a new one, or even a new-used one, it's a big decision. Cars cost a lot of money, so it's not a decision you want to make lightly. Here are the three main factors to consider when deciding whether or not to buy a new car.

Car sale image from Shutterstock

There's a lot to consider when you're deciding whether to keep your old car or upgrade. For example, driving your car into the ground might seem frugal, but if that car is guzzling gas or in need of expensive repair, it might not be the best long-term decision. That's just one of many things to consider, but Consumer Reports points out that the decision involves three general factors:

  • Money: Will you save money with a car with better fuel economy? How much will your current car cost to repair? Finally, how much will the new car appreciate? These are all important details to consider when you're weighing the financial factor of a new car.

  • Safety: Consumer Reports points out that many newer cars have awesome safety features that make them worthwhile. If you're planning to shop for a new car, they recommend finding one that's at least equipped with: a backup camera, curtain airbags, electronic stability control (esc), and forward-collision warning.

  • Features: A final factor in your decision should be what kind of features you're looking for. Most new cars have at least a USB port for plugging in a phone and Bluetooth phone connectivity. If features are your deciding factor, consider the fact that you can also equip your current car with these features.

With those three factors in mind, Consumer Reports also created a flowchart to help you decide. This should go without saying about any kind of flowchart, but keep in mind: it's just a generic visual guide to aid your decision, it's not based on any kind of science. So take it for what it is, and check it out below, then head to the full post additional info to help you decide.

Three Basic Factors to Consider When Deciding If You Should Buy a New Car

[Via Consumer Reports]


    How much your new car will. ... appreciate? Your assets may appreciate if you buy the car outright rather than borrowing.

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