I don't drive and have been very hesitant to take that step to buy a car. The biggest reason up until this point has been a lack of a need for one. Most of the places I have lived have had great alternatives to driving, and I've used them. To me, travelling all the miles I've travelled, a car just seems like a glorified waste of time. Sure it's convenient, but what are you really getting when you buy a car?
New cars especially are long term investments. For all that new car feel, look and smell, this is the automobile you will have for a LONG time before you see any return of its value. Is the investment really worth the reward? That is the question you need to ask when you look at a car, especially in these tough economic times.
So let's ask ourselves this: For the most part what do you get when you buy a car?
1) Convenience - barring an actual business use, this is the number one reason people buy a car, whether they realize it or not. An automobile's biggest advantage is its ability to get you from point a to b in a reasonably quick period of time. That's why we buy one. It gives the average person range with how far they can go. Say I wanted or needed to drive a hundred miles. I could, no questions asked. That is the automobile's only advantage.
2) Business Reasons - if you're a taxi driver, truck driver, courier etc. you need a car, and that's all there is to it. That doesn't mean you need a new top of a line car. It just means you need some kind of car for your business.
3) Perception - Let's be honest: people love being the center of attention in a new car. There's that new car smell and shine that just can't be duplicated. This is usually accompanied by a joyful glee on the driver's end. And it feels good. And why wouldn't it?
If you look carefully at this list, only one of the reasons are what I would call necessary. The rest of them are for people with money. Now if you are one of them, chances are this article is making you feel good. If you're not, you really need to consider what exactly you are buying with a car. Most people don't. They see only the convenience.
Here are a few reasons why someone should think twice about buying a car.
1) Low return on investment - cars on average drop in value for about two decades before you recieve any profit. cars become junk and like everything else in the market, it's value depreciates the moment it leaves the store or lot. Are you willing to wait two decades before you see a profit? Because on average that's how long it's going to take.
2) Money - between car payments, taxes, maintenance, and gas, you spend an awful lot of money on a car. Is it worth the investment? I can't stress that point enough. The question here is do you NEED a brand new car? Really think it through.
3) Time - are you really that impatient to wait a few minutes while someone picks you up? One guy I know was so bad with his car, he'd drive it two blocks from home in one of the quietest neighborhoods. He will not. walk. two. blocks! to go to his work. I'm okay with waiting an extra ten fifteen minutes to go somewhere. What about you?
There are other reasons and factors to consider, but you get the point. The car for all it's virtues lauded, only gives you a convenience. And while there are times that convenience is handy, for the most part we do not need it. We have buses, we have bikes, we can walk, or move closer to our work.
But for those of you looking for a car, and really do need one. Ask yourself the following questions:
1) What do I need? - For all the features lauded with a car these days, there are some that are useful and convenient, but are not necessary. Do we really need a GPS system? Or that boom box custom job so our speakers can blow us away? I mean sure, who doesn't want to jam to Master of Puppets and feel the vibrations? That's cool, but not necessary. Also, is this a car you are going to want with a family in mind?
Figure out what you need first and foremost. Necessity trumps convenience.
2) Age - The older the car is, the more money will call towards maintenance. And the harder it will be to replace the parts. I love the old 70s and 80s cars. They are a lot more durable then the hunks of junk on most lots today. That said, good luck finding parts for those things if they do break down.
modern cars have anywhere from a 3-5 year lifespan before things start breaking down on them. if the car you are buying is that old, you should pay careful attention to what has been fixed already, and what hasn't broken down. Factor those costs into your car.
In these hard times, your buck only goes as far as you are willing to stretch it, and just going for the impulse buy is suicide. Really focus on the essentials, if you even have to buy a car at all. Otherwise you may be paying thirty grand for a useless paperweight.