How Long Should a Private Car Be Driven Before Replacing It?
2 Answers
It is appropriate to replace a private car after driving it for 5 years. Here are the reasons why it is suitable to replace a private car after 5 years: Higher resale value for cars around five years old: Generally, it is relatively easier to sell a car that is around five years old. The resale value for cars around five years old is still quite good, and the selling price is relatively high. Peak configuration for cars around five years old: The vehicle will need to have some components replaced successively, such as tires, brake discs, or transmission fluid, etc. After the peak period, the car will start to require more attention, and the resale value at this time is usually between 40-50%.
I think the right time to replace a private car mainly depends on cost-effectiveness. I personally drove a car for 15 years. At first, the annual maintenance didn't cost much, but around the eighth year, problems started to arise. A single repair for the engine or transmission could cost five to six thousand yuan, and the cumulative expenses almost exceeded the down payment for a new car. The repair bills kept rising year after year—tires needed replacing, the suspension required adjustments—these wear and tear issues are hard to avoid. I did the math: when your car's annual maintenance costs exceed the depreciation cost of a new car, it's time to consider replacing it because holding onto it longer will only result in greater losses. New cars are also more fuel-efficient, making them more economical in the long run. In short, don't wait until repairs drain your wallet to make a decision. Regularly evaluating costs is key—generally, you should start paying attention after 10 years or 120,000 kilometers.
