How do you know when it's time to buy a new car?

[Banned]

I'm debating buying a new car. My current one is seven years old and there's nothing wrong with it but I want to sell it before it starts having problems and breaking down. I haven't had car payments in a few years and hate the thought of having them again but love the thought of having a new vehicle that is theoretically reliable and under warranty so if something breaks I'm not going to have a huge repair bill.

But, it's an expensive vehicle that I've been drooling over since last summer so I want to be cautious and not my usual bipolar spontaneous throw all caution to the wind self.

I test drove it today but test driving a car is like saying you're going to look at puppies. You don't leave without one. I didn't leave a deposit but in my mind I'm buying it. The good thing is it would have to be factory ordered which would take about five months to get here so it would force me to wait even though there'd be no backing out cause the contract would be signed.

But I just don't know how you know when it's the right time. In the past it was always when my lease was up, or my car no longer suited my needs. There's nothing wrong with my vehicle, it's just getting old and I don't want to have an unreliable vehicle and an expensive repair bill at some point.

Thoughts?

 

[David Baxter PhD]

My rule of thumb has always been you trade it in when it starts to become unreliable or the repair bills are more than the car is worth.

It doesn't sound like you're there yet. I'd keep driving what you have for now.

 

[Banned]

The black book is only about $3000 so that's one repair bill. The brakes and timing belt will need to be done soon I'm sure. I could probably take it in for a check up and see what needs to be done.

 

[Banned]

Well now that I've had more time to think, I really don't want to get into car payments again sooner than I have to. I guess I'll wait a bit longer....maybe a week or so ... Jk. I want the car but not the payments, and I want to be payment free more than I want the car, so I'm going to hold off as long as I can.

 

[Jesse910]

Thank you for this amusing message. In my more playful moods, I want a jaguar any day of the week - baby blue to the point that I can taste it! However, I don't want the bills or the maintenance of it. When I bought my car 9 years ago, it was from dire necessity. The mechanic had told me that the car was on its last leg. I didn't believe him. On the way to take my son to school, the car died in a literal fog of white smoke. Reality check: it ain't broke; don't fix it now. Save up for it so that you have a nice down payment. Wait and tell the bipolar side of you to hush up a bit!