March 21, 2018
One question that all of us have asked ourselves at least once is “should I keep my current car a little longer or should I buy a new car?” The answer is usually straightforward, but it all depends on several conditions, including what kind of shape your vehicle is in and your financial position. And of course, it’s important to consider the reduction in maintenance costs, as well as improvements in safety and connectivity in today’s new cars, trucks, and SUVs.
Regardless of how well your car has been maintained, even the most reliable models require more frequent repairs as they age.
We here at Team Ford want to make certain you make the right decision. So here are several factors that you should consider before making the decision to purchase a new car, truck, or SUV.
There’s no doubt that modern cars, trucks, and SUVs are safer than those manufactured even a few years ago. High-strength steel is now widely used and advancement in structural design help reduce injuries in a collision. There are also safety measures that will warn if you’re following another car too closely, drifting out of your lane, or there’s a vehicle in your blind spot. It’s doubtful that any of these features were available when you purchased your last car.
Your car, truck, or SUV is a machine manufactured from thousands of parts and like all machines they wear over time. Machines also require service and sometimes replacement of components. When your machine is brand new, all those components are free from troublesome problems. A Consumer Reports survey of the readers reported that the annual maintenance cost for a seven year old car is twice as much as that of a four year old car.
Ford’s basic warranty is competitive with other manufacturers, covering the vehicle for three years or 36,000 miles, with a powertrain warranty of five years or 60,000 miles. When you purchase a Ford Protect Premium Maintenance Plan for your new car, truck, of SUV it not only covers routine oil changes, it also covers inspections, as well as preventive care and replacement of normal wear and tear components.
The cars, trucks, and SUVs of today deliver better fuel mileage than the same model did just a few years ago. New engines with direct fuel injection, some with turbocharging, actually make more power but also deliver better mileage than cars of the recent past. And a few MPG can really add up over time. For example, if your current vehicle gets 26 mpg and you trade it in for a new vehicle that achieves 34 mpg, you can save about $300 in annual fuel costs.
Electronic communications are now an integral part of our lives. To accommodate connectivity, many vehicles today offer an in-car WiFi HotSpot for all passengers. In addition, with Apple CarPlay and Android Auto phones and tablets connect directly to the Ford’s Sync 3 in-vehicle infotainment system, unlikely to be in your existing vehicle.
When the annual repair costs for your current car, truck, of SUV exceeds a year’s worth of new car payments, the decision is pretty easy. But keep in mind that repair costs rise exponentially as vehicles age. In fact, if you’re driving a five year old car, expect a nearly 50 percent increase in repair costs by within two years – money that you could have been paying towards a new car.
Pull together the documents for your existing car, truck, or SUV, and bring it along with you to the experts at Team Ford. We’ll take you through how a new Ford can not only make financial sense but also provide you with the peace of mind that can only come from a new vehicle under warranty.
Come out and see us for a test drive today.